đĄ Weekend wrap | Gold & silver
Gold and silver gave back Fridayâs initial bounce after the jobs report. Payrolls missed and October hike odds fell sharply, but the 10-year yield held near 5.25% and oil stayed elevated. The relief bid didnât last.
The U.S. added 29K jobs versus about 90K expected. Unemployment was 4.2%; average hourly earnings rose 0.1% m/m and 3.0% y/y. JulyâAugust payrolls were revised down by 60K combined. October hike odds fell from roughly 70% to 22%, though December tightening is still being priced. The dollar slipped on the day but rose on the week.
Brent traded near $101.23 and WTI near $90.70. Hormuz flows recovered, but shipping and security risks remain. Equities moved higher: the S&P 500 rose 0.7% to 7,722 and the Nasdaq gained 1.2% to 27,191.
Gold finished around $4,142 (-0.83%); silver near $60.23 (-1.04%).
Levels for next week
Gold: $4,149.83 is the first level to reclaim, followed by $4,171.46. A sustained break below $4,149.83 puts $4,110.87 and $3,942.10 in focus. Bulls need to reclaim $4,203.65â$4,230.51 to bring $4,319.61 and $4,327.50 back into view.Silver: $60.26 is the first resistance. Above $60.85â$61.74, watch the 50-day EMA near $64.63, then the 200-day near $65.45. A break below $60.26 puts $60.00 and $59.57 in focus.
September CPI and PPI, energy prices and Fed commentary are next weekâs key tests. Softer inflation would support the payroll-driven rate outlook; a renewed energy inflation push could keep yields weighing on metals. Hormuz remains a two-way risk: lower oil could ease inflation pressure, while renewed shipping concerns may support safe-haven demand.
Levels first. Iâm staying patient until CPI gives a clearer read on whether 5.25% on the 10-year is a ceiling or a floor. Cash is a position. NFA.
#XAU #XAG #Macro #Fed
Gold and silver gave back Fridayâs initial bounce after the jobs report. Payrolls missed and October hike odds fell sharply, but the 10-year yield held near 5.25% and oil stayed elevated. The relief bid didnât last.
The U.S. added 29K jobs versus about 90K expected. Unemployment was 4.2%; average hourly earnings rose 0.1% m/m and 3.0% y/y. JulyâAugust payrolls were revised down by 60K combined. October hike odds fell from roughly 70% to 22%, though December tightening is still being priced. The dollar slipped on the day but rose on the week.
Brent traded near $101.23 and WTI near $90.70. Hormuz flows recovered, but shipping and security risks remain. Equities moved higher: the S&P 500 rose 0.7% to 7,722 and the Nasdaq gained 1.2% to 27,191.
Gold finished around $4,142 (-0.83%); silver near $60.23 (-1.04%).
Levels for next week
Gold: $4,149.83 is the first level to reclaim, followed by $4,171.46. A sustained break below $4,149.83 puts $4,110.87 and $3,942.10 in focus. Bulls need to reclaim $4,203.65â$4,230.51 to bring $4,319.61 and $4,327.50 back into view.Silver: $60.26 is the first resistance. Above $60.85â$61.74, watch the 50-day EMA near $64.63, then the 200-day near $65.45. A break below $60.26 puts $60.00 and $59.57 in focus.
September CPI and PPI, energy prices and Fed commentary are next weekâs key tests. Softer inflation would support the payroll-driven rate outlook; a renewed energy inflation push could keep yields weighing on metals. Hormuz remains a two-way risk: lower oil could ease inflation pressure, while renewed shipping concerns may support safe-haven demand.
Levels first. Iâm staying patient until CPI gives a clearer read on whether 5.25% on the 10-year is a ceiling or a floor. Cash is a position. NFA.
#XAU #XAG #Macro #Fed
