Gold slightly up, silver slightly down amid conflicting fundamentals

Gold is modestly firmer while silver slips in midday U.S. trade, with June gold last at $4,688.20, up $9.50, and May silver at $72.65, down $0.264. The move is being driven by a mix of chart-based buying and some Middle East safe-haven demand, but gains are capped by a stronger tone in U.S. equities early in the week. Friday’s upbeat U.S. employment report is still weighing on the metals complex by reinforcing a higher-for-longer Fed narrative. Outside-market support is mixed: WTI crude is roughly steady near $111.50/bbl, the dollar index is slightly lower, and the 10-year Treasury yield is 4.327%. Technically, gold bulls need a close above $5,000 to extend the uptrend, with resistance first at $4,750 and then $4,825.90; support comes in at the overnight low of $4,626.20 and then $4,580.40. For silver, bulls need a close above $80, while initial support sits at $70 and then $67.70, with the March low at $61.21 as the key downside level.