Daily Bullion Report for the Day of 2nd May 2025

Fundamentals for the Day

6.00 pm Average Hourly Earnings m/m

Non Farm Employment Change

Unemployment Rate

7.30 pm Factory Orders m/m

US - China Trade talks & comments are getting softer & smoother in compare to previous days which indicates there is no more risk of Tariff Hike - again indicates there is no risk as of now & no need to move to safe heaven Gold investment.
Which means Gold may remain a little more downside with ZIGZAG as well as jumping upside & move downside specifically for the month of May 2025.
Today is NON Farm Payroll data will declare which is expected Negative already which effect on Bullion Upside- We will find a good opportunity to sell on rise side in this situation with a back up
90,500 is coming in Gold, COMEX Gold spot will touch 3120$ - for Indian Currency is getting much more stronger will make push Indian Gold little more downside & changes as per INR 1 Rs = 500 Rs in MCX Gold.
All of above indicates just be sell on rise idea is far better as of now.
Upside 3290$ to 3300$ is a Good sell point as of now for downside 3120$

Gold

Range:93100 - 90500

Our Preference: Sell Gold 93110 with back up 93378 target 92150 & below 91900 target extend till 90500 with SL 93450+

Alternative Scenario: Sell Gold @ 94206 with SL 94500 target 92000 & 90500

Trading Zone

90500 Last Buy of the Week

93100 Sell start for the Day

93645 Sell for session

94206 Last for the Day

Silver

Range:96100 - 92555

Our Preference: Silver @ 95100 for target 92555 with SL 95600+ only if sustain

Alternative Scenario: Sell Silver @ 96100 for target 92555 with SL 500+ only if sustain

Trading Zone

95085 Sell start for the Day

97200 Last sell for the Week

Pricing