DAILY BULLION REPORT — Thursday, 09 July 2026
Full trading day coverage: 9:00 AM – 11:30 PM IST | Anchored to COMEX with MCX bridge | USDINR 95.54
1. RANGE — Expected Full-Day Band
Instrument |
Spot / Ref |
Expected Low |
Expected High |
|---|---|---|---|
COMEX Gold |
$4,069 |
$4,020 |
$4,130 |
MCX Gold Aug |
1,43,650 |
1,42,300 |
1,45,100 |
COMEX Silver |
$58.1 |
$56.9 |
$59.8 |
MCX Silver Sep |
2,23,079 |
2,18,500 |
2,28,500 |
Bridge: 1 USD/oz ≈ Rs30.7/10g. Gold $110 band ≈ Rs3,380 MCX swing → matches 1,42,300–1,45,100. High/Low expected to hold inside this band barring event shock.
2. OUR PREFERENCE — Primary Full-Day Call
GOLD (MCX Aug) — Sell-on-rise into resistance, level-trading regime.
- Direction: Sell the rally (July = quiet range month; $4,225-4,250 cluster caps upside)
- Entry zone: 1,44,600 – 1,44,900
- Add-on: 1,45,000 (only if COMEX rejects $4,125-4,130)
- SL (only-if-sustained close above): 1,45,650
- Target 1: 1,43,600 | Target 2: 1,42,600
- R:R: risk ~750, reward ~2,000 → ≈ 1:2.6
SILVER (MCX Sep) — Buy-on-dip, silver holding firmer than gold.
- Direction: Buy dips (silver base $57.0-57.3 held twice; softer dollar supportive)
- Entry zone: 2,20,000 – 2,20,800
- Add-on: 2,19,000 (only if held on close)
- SL (only-if-sustained below): 2,17,800
- Target 1: 2,23,500 | Target 2: 2,26,500
- R:R: risk ~2,200, reward ~5,700 → ≈ 1:2.6
3. ALTERNATIVE SCENARIO
- Gold (breakout-long): Sustained move + close above 1,45,650 (COMEX $4,135) opens 1,46,800 then testing $4,225 cluster. SL 1,44,900.
- Silver (breakdown-short): Sustained break below 2,17,800 (COMEX $56.9) triggers slide to 2,14,500 / 2,12,000. SL 2,19,500.
4. TRADING ZONE — Jobbing Levels (tight SL, quick strokes)
Instrument |
Sell 1st-stroke |
Buy 1st-stroke |
Tight SL |
|---|---|---|---|
MCX Gold Aug |
1,44,800 |
1,42,600 |
300 pts |
MCX Silver Sep |
2,27,500 |
2,20,300 |
900 pts |
5. SESSION CALLS
EUROPE SESSION (12:30–18:30 IST)
- Gold: Sell 1,44,700 → target 1,43,000 (1,700 pts), SL 1,45,500. Range grind expected pre-US data.
- Silver: Buy 2,20,600 → target 2,24,000 (3,400 pts), SL 2,18,900. R:R ≈ 1:2.
US SESSION (18:30–23:30 IST) — driven by Jobless Claims (18:00) + FOMC Minutes (23:30)
- Gold: If claims come hot (weak labour), buy dip 1,43,200 → target 1,45,200 (2,000 pts), SL 1,42,400. R:R ≈ 1:2.5. If soft claims, revert to sell 1,44,900.
- Silver: Momentum long on dollar softness — buy 2,21,000 → target 2,25,500, SL 2,19,300. Keep light into 23:30 Minutes.
6. FUNDAMENTALS FOR THE DAY
- 18:00 IST — US Initial Jobless Claims. Hot (higher claims / weak labour) → bullish bullion, dollar softer, favour gold longs on dips + silver momentum. Soft (low claims / strong labour) → dollar firms, favour selling gold rallies.
- 23:30 IST — FOMC Meeting Minutes. Dovish tone (open door to hold/cut, echoing NFP miss) → gold pops toward 1,45,600. Hawkish surprise → sharp fade, protect longs. FLAGGED: high-volatility print late in session — trim size before 23:30.
7. YESTERDAY — WHAT HAPPENED & WHY
Gold closed near weekly highs on a soft-dollar bounce after June NFP missed badly (57K vs 110K), pushing Sept hike odds from 67% to 50%. The dollar logged its weakest week since April, lifting gold ~2% off the $3,942 low. Early-week MCX traded rangebound near 1,47,3xx — classic July level-trading, no fresh directional conviction, just dollar-driven drift.
8. TREND
- TREND FOR THE DAY: Range-bound with sell-on-rise bias in gold, buy-on-dip in silver; event risk into US session.
- TREND FOR THE WEEK: Sideways-to-mildly-firm — capped by $4,225-4,250 cluster, floored
