A weaker than expected non-farm payroll data in the US enthused bullion as the yellow metal ended with sharp gains on Friday. A weaker greenback aids the cause of the yellow metal.“Dollar Index corrected by 0.62% and closed at a 2 week low that helped gold gain 1.03% on the MCX. Silver futures increased by 3.27%. As for September Silver futures support is seen at Rs 69,500 - Rs 68,000 while resistance is at Rs 72,500 - Rs 74,000.He expects Gold to test Rs 60,000 per 10 gram and Silver futures to test Rs 72,500 - Rs 73,000 levels “very soon again”. They were up by 6.84% or Rs 3,765 on the year-to-date basis as on Friday, July 7 on the closing price basis, he added.

Source: Economic Times July 09, 2023 08:19 UTC