Precious Metals stabilize after the Employment report

Fundamental Q News and Triggers

Gold and silver prices have stabilized after ADP Employment Services in the United States reported a steep drop in private payroll hiring in September. Employers in the United States hired 89k new workers in August, compared to 153k expected and 177k in August. This points to lacklustre labour demand, which will set the tone for the Federal Reserve’s November monetary policy.

On softer-than-expected Employment Change data, the US Dollar fell to roughly 106.25 from an 11- month high of 107.20. The 10-year US Treasury yield has given up some of its gains and is now hovering around 4.7%.


Technical Triggers

Gold prices are trying to stabilize above $1830 (Rs 56000) as prices are very oversold, some recovery expected

Silver prices are trying to stabilize around $21 (Rs 67000) as prices are oversold, and some recovery
is expected.

Support and Resistance




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