• A better-than-expected U.S. jobs data has strengthened predictions that the Federal Reserve would not lower interest rates at its December meeting, which has caused precious metals to trade mutedly.
• The highly anticipated U.S. Labour Department report, which was postponed due to the federal government shutdown, revealed that nonfarm payrolls climbed by 119,000 in September—more than twice the projected gain of 50,000.
• The Fed lowered interest rates despite members’ warnings that doing so could jeopardise persistent inflation and erode public confidence in the US central bank, according to minutes from the Fed’s October meeting that were made public on Wednesday.
• The Cleveland Beth Hammack, the president of the Federal Reserve, cautioned on Thursday that further rate cuts at this time pose a number of economic dangers. There is a chance that asset prices will drop excessively, according to Fed Governor Lisa Cook.

Technical Triggers 

• Gold has been trading in the range of $4000 (~Rs 121,000) and $4150 (~Rs 125,000). Buy on dips around support and sell on rallies around resistance.
• Silver has been trading in the range of $49 (~Rs 150,000) to $53 (~Rs 160,000). Buy on dips around support and sell on rallies around resistance.

Support and Resistance