Safe-Haven Dynamics – Gold and silver have recovered from key support levels as Middle East de-escalation signals pressured oil prices, reducing inflation concerns. The dollar weakened against major currencies after the US indicated progress toward an Iran deal, while the yen surged to a two-month high amid intervention expectations.

Geopolitical Developments – President Trump announced a temporary pause in “Project Freedom” — the US military’s commercial shipping escort operation through the Strait of Hormuz — to allow time for a potential Iran agreement. Trump confirmed via Truth Social that negotiations have advanced significantly toward a comprehensive deal.

Macro-economic Signals – Market attention now shifts to the upcoming non-farm payrolls data, which will indicate whether economic resilience justifies holding Fed policy steady or whether labour market softening strengthens the case for rate cuts.

Technical Triggers   

Gold has bounced from the $4,500–4,550 (~₹1,49,000) support zone and is now targeting resistance at $4,800–4,850 (~₹1,55,000).

Silver has recovered from the $73 (~₹2,43,000) support level and is expected to advance toward resistance at $77–78 (~₹2,54,000–2,56,000).

Dr.Renisha Chainani, Head- Research, Augmont