Fundamental News and Triggers:

Gold and silver prices are staying within a narrow range as traders await significant movements in anticipation of Fed Chair Powell’s Jackson Hole speech, which could provide clues about the direction of US policy.
Despite indications of a weakening job market and inflation that is still above goal and susceptible to pressures from tariffs, Fed policymakers on Thursday showed scant support for a rate decrease next month, leaving markets looking to Powell’s speech for clarity.
With markets pricing in a 75% chance of a quarter-point cut, investors continue to view policy easing as a possibility in September.
Geopolitical optimism for a possible peace agreement between Russia and Ukraine waned when reports surfaced that Russia had launched its biggest drone and missile attack on Ukraine in over a month. Moscow accused Kyiv of rejecting the prospect of a “lasting and fair settlement.

Technical Triggers

Gold seems to continue its downward trajectory after sustaining below $3400. Next support is $3340 (~Rs 98500), while $3445 (~Rs 100,500) remains the resistance.
Silver prices are expected to consolidate in a range of $37(~Rs 110,500) to $39(~Rs 115,000). Buy on dips and sell on rallies.
Support and Resistance

Disclaimer: This report contains the author’s opinion, which is not to be construed as investment advice. The author, Directors, and other employees of Augmont Enterprise Private Ltd. and its affiliates cannot be held responsible for the accuracy of the information presented herein or for the results of the positions taken based on the opinions expressed above. The opinions mentioned above are based on information, which is believed to be accurate, and no assurance can be given for the accuracy of the information. The author, directors other employees and any affiliates of Augmont Enterprise Private Ltd cannot be held responsible for any losses in trading. In no event should the content of this research report be construed as an express or implied promise, guarantee or implication by or from Augmont Enterprise Private Ltd. that the reader or client will profit or the losses can or will be limited in any manner whatsoever. Past results are no indications of future performance. Information provided in this report is intended solely for informative purposes and is obtained from sources believed to be reliable. The information contained in this report is in no way guaranteed. No guarantee is implied or possible where projections of future conditions are attempted. We do not offer any sort of portfolio advisory, portfolio management or investment advisory services. The reports are only for information purposes and are not to be construed as investment advice.