Archive · 3 Aug 2026
Gold, Silver Likely Trade Narrow Range Awaiting US Data
Gold and silver are precious metals that people buy and sell.
Right now, their prices are not expected to move a lot.
Traders are waiting for important information from the United States, like how many people got jobs and how fast the economy is growing.
They also want to hear what the Federal Reserve, the U.S. bank that sets interest rates, will say.
Things happening around the world, like a conflict between the U.S. and Iran and how much oil is moving through shipping lanes, can also change how people feel about buying gold and silver.
In India, the price of gold on the MCX market is expected to stay between 1.40 and 1.44 lakh rupees for every 10 grams.
Silver is expected to stay around 2.17 lakh rupees per kilogram.
Because of all this uncertainty, investors are being careful and not buying a lot.
Gold and silver likely to trade in a narrow range this week.
Traders await US non‑farm payrolls, unemployment rate, and PMI data for clues on Fed policy.
Fed officials Lisa D Cook and Thomas Barkin’s speeches are key signals.
Global events such as the US‑Iran conflict and crude oil supply stability influence sentiment.
Domestic MCX gold is projected at Rs 1.40‑1.44 lakh per 10 g; silver at Rs 2.17 lakh/kg.
- Who
- Analysts and traders, including Jateen Trivedi, are monitoring the markets.
- What
- Gold and silver are expected to trade in a narrow price range this week.
- When
- During the week of August 2, 2024.
- Where
- In India’s MCX market and global commodity exchanges.
- Why
- Because investors await U.S. employment data and Federal Reserve signals, while global events like the U.S.-Iran conflict and oil supply affect sentiment.
- Expected MCX gold price range
- Rs 1.40-1.44 lakh per 10 grams
- Expected MCX silver price
- Rs 2.17 lakh per kilogram
- Key US data to watch
- Non-farm payrolls, unemployment rate, PMI
- Fed officials to watch
- Lisa D Cook, Thomas Barkin
- Global factors
- US-Iran conflict, crude oil supply stability
