Daily Bullion Report — 7 August 2026 | MCX Gold & Silver Full-Day Levels

DAILY BULLION REPORT — Friday, 07 August 2026

Full trading day 9:00 AM – 11:30 PM IST | Prepared by Tradeline Capital Research Desk

MARKET SNAPSHOT

• Overall bias: Bullish-to-neutral; gold parked at weekly highs after soft-dollar bounce.
• Dollar index: Weakest weekly close since April — supportive for bullion.
• Bond yields: Drifting lower post-soft NFP; mild tailwind for metals.
• Risk sentiment: Balanced; rate-cut repricing (Sept hike odds 67→50%) keeping bid firm.
• Events: FOMC Minutes due next session (23:30 IST 08-Aug) — position lightly into close.

FUNDAMENTALS

No major economic events scheduled today. Technical price action is expected to dominate. Focus stays on the $4,315–4,320 COMEX resistance shelf and follow-through from last week’s soft-dollar strength.

MARKET BIAS

• Gold: Bullish (while above 1,47,800 MCX)
• Silver: Bullish (holding above 2,22,000 MCX)

GOLD — MCX (ref. active October contract 483079)

Primary Trade (Buy on dips):

• Entry zone: 1,48,300 – 1,48,000
• Add-on: 1,47,750 (only if held)
• SL (only if sustained below): 1,47,450
• Target 1: 1,49,400 | Target 2: 1,50,200
• R:R ≈ 1:2.6

Alternative Trade (Sell on failure):

• Trigger: sustained break below 1,47,450
• Target: 1,46,700 then 1,46,100
• SL: 1,47,950

Trading Zone (jobbing):

• 1st-stroke buy: 1,48,050 | tight SL 1,47,800
• 1st-stroke sell: 1,49,900 | tight SL 1,50,200

SILVER — MCX (Sep)

Primary Trade (Buy on dips):

• Entry zone: 2,25,000 – 2,24,200
• Add-on: 2,23,300 (only if held)
• SL (only if sustained below): 2,22,300
• Target 1: 2,27,500 | Target 2: 2,29,300
• R:R ≈ 1:2.3

Alternative Trade (Sell on failure):

• Trigger: sustained break below 2,22,300
• Target: 2,20,500 then 2,18,800
• SL: 2,23,400

Trading Zone (jobbing):

• 1st-stroke buy: 2,24,400 | tight SL 2,23,600
• 1st-stroke sell: 2,29,000 | tight SL 2,29,800

FUNDAMENTALS FOR THE DAY

• No first-tier US data today. Session is technically driven — level-trading regime typical of a quiet mid-summer tape.
• Forward flag — FOMC Minutes (23:30 IST, 08-Aug): Hot (hawkish) read → dollar bounce, gold pressured toward 1,47,000; Soft (dovish) read → gold extends above 1,50,000.
• Forward flag — Initial Jobless Claims (18:00 IST, 09-Aug): Higher claims reinforce cut narrative, bullion supportive; lower claims trim gold rally.
• Forward flag — US CPI (14-Aug next week): The macro pivot — build/reduce risk into it.

YESTERDAY — WHAT HAPPENED & WHY

Gold closed at weekly highs on a soft-dollar bounce — the dollar index printed its weakest weekly close since April after June NFP badly missed (57K vs 110K expected), pushing Sept hike odds from 67% to 50%. Silver held firm near the top of its range in sympathy. Metals remain in a level-trading month with resistance clustered at $4,225–4,250, then the 200-DMA at $4,402; sustained central-bank buying (WGC +41t in May) keeps the downside cushioned.

TREND

• Trend for the day: Buy-on-dips bias while gold holds above 1,47,800 and silver above 2,22,000.
• Trend for the week: Constructive but range-bound; direction hinges on FOMC Minutes and next-week CPI.

DESK VIEW

• Soft-dollar momentum keeps the path of least resistance higher into the weekend close.
• Respect the $4,315–4,320 COMEX shelf — a clean break opens fresh MCX highs above 1,50,000.
• Central-bank demand and repriced rate expectations underpin dips; favour buying weakness over chasing strength.
• Silver leads on strength but whips harder on reversals — honour tight jobbing stops.
• Trim exposure before FOMC Minutes next session; event risk can override technicals quickly.

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