Gold and Silver Early Market Trend (MCX, December 9, 2025)
Good day, traders! February contracts of gold were rotating at ₹1,29,978 per 10 grams around 9:25 AM, signaling a rather lackadaisical start of the day for gold. No big action there, it looks like the yellow metal is simply weighing the Fed’s next step before going up.
In contrast, silver brought some early luster to the market, as it went up 0.50% and reached ₹1,82,705 per kg. Investors are eagerly watching the global cues and the US economic data to be released soon as the metals market is anxiously waiting for the Fed’s policy announcement. So will gold shine or just stay calm? Today’s trading will reveal it.
US Economic Data Affecting The Metals Market
Gold and silver meters are up and down as the US economic indicators are influencing the market direction and, therefore, the metals market. The Fed’s go-to gauge of inflation, the Personal Consumption Expenditures (PCE) Price Index, went up by 0.3% in September, which is also the same increase if one looks at it from a year-on-year perspective.
On the other hand, American businesses cut back on hiring as US private payrolls dropped by 32,000 in November, which is the highest layoff figure in over two and a half years.
Claims for unemployment benefits came down to 1,91,000, which is the lowest number in more than three years and, additionally, it was significantly below the 2,20,000 that the market was expecting. The investors in gold and silver are taking a very careful stand as the market waits for the policy to be announced by the Fed.
Fed Rate Outlook And Market Expectations
- Comerica Economics expects the Federal Open Market Committee (FOMC) to cut rates by 25 basis points.
- The federal funds target would adjust to a range of 3.50%–3.75%.
- Bill Adams, Chief Economist at Comerica Bank, noted that the Fed may remain cautious regarding the 2026 rate outlook.
- The Fed is also likely to signal measures to support short-term funding markets amid recent signs of tight liquidity.
Gold & Silver Market Watch: Key Levels And Influences
| Category | Details |
|---|---|
| Impact on Gold | Rate cut expectations support gold, but rising US 10-year Treasury yields weigh on prices. |
| Market Insight | Aksha Kamboj (IBJA) noted gold remains supported by steady buying interest from the past week. |
| Intraday Movement | Movements may remain measured; traders are focusing on global cues and upcoming US data. |
| Gold Key Levels | Support: $4,165 and $4,135; Resistance: $4,230 and $4,265 |
| Silver Key Levels | Support: $57.60 and $56.95; Resistance: $58.75 and $59.15 |
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