Gold and silver outlook: What's in store for traders this week? Job data, crude and more in focus - The Times of India

AI desk brief

Gold and silver enter a volatile, data-heavy week after last week’s selloff, with US non-farm payrolls, unemployment, PCE inflation and Fed commentary likely to drive rate expectations and bullion sentiment. In India, MCX October gold fell Rs 3,500 (-2.3%) to Rs 1.5 lakh/10g and silver dropped Rs 6,907 (-3%) to Rs 2.34 lakh/kg; Comex December gold slid $103.7 (-2.34%) to $4,321.2/oz and silver fell $2.35 (-3.5%) to $64.80/oz.

Traders are watching the dollar index above 101 and US yields, which are at multi-decade highs on the long end; stronger jobs data would reinforce higher-for-longer rate bets and pressure gold, while softer prints could support bullion via a weaker dollar. Geopolitics and crude remain supporting variables, but higher Saudi and Iraqi supply has weighed on oil, limiting the immediate impulse from Middle East tensions.