A stronger-than-expected US employment report drove a broad pullback across precious metals markets on Monday, lowering rate-cut expectations and lifting Treasury yields. On the Multi Commodity Exchange (MCX), gold futures for October opened gap-down at Rs 1,52,279 per 10 grams before sliding further to an intraday low of Rs 1,51,850. The December contract similarly lost ground, dropping 0.51% to trade around Rs 1,53,372 per 10 grams across 8,519 lots. Technical analysis indicates that while domestic gold continues to trade above its 50-day EMA, an RSI reading of 47.02 confirms softer momentum.

 Technical levels show immediate support sitting between Rs 1,50,700 and Rs1,50,000 near the 100-day EMA, with secondary support at Rs 1,48,000 to Rs 1,47,300, while resistance remains capped between Rs 1,53,700 and Rs 1,54,000.

Silver tracked the downward trend on the domestic exchange, with December futures opening lower at Rs 2,37,176 per kg and touching an intraday low of Rs 2,36,827 per kg before paring a fraction of those losses. International spot prices mirrored this weakness, as COMEX gold slipped 0.90% to approximately $4,401.90 per troy ounce, while global spot gold dropped $32 to trade near $4,393.97 per ounce.

In the physical spot market, 24-carat gold quoted at Rs 1,54,300 per 10 grams in both Delhi and Mumbai, while Kolkata and Chennai saw slightly lower rates at Rs 1,54,150 per 10 grams. For 22-carat gold, prices stood at Rs 1,41,450 in Delhi, Rs 1,43,600 in Mumbai, and Rs 1,41,300 in Kolkata and Chennai. Physical silver prices held firm at Rs 2,50,000 per kg across Delhi, Mumbai, and Kolkata, while buyers in Chennai paid a higher rate of Rs 2,55,000 per kg.