What Next ??? - May 3, 2025

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Gold prices could fall $3205 to $3162 up to and Silver up to $30.95 to $29.86
-Praatap Kolagatla, MD, sQuareindia Advisory


Gold :  

15 analysts responded this week, 7 see prices up, while 8 see prices down, and 0 see prices unchanged. especially Trading range will be between $3136-$3287 levels.

S1:3205 S2:3173 S3:3136
R1:3247 R2:3262 R3:3287

Silver :  

Silver Prices remain volatile, but the tone toward the metal remains high, especially Trading range will be between $30.13-$33.88 levels.

S1:31.69 S2:31.05 S3:30.13
R1:32.47 R2:32.95 R3:33.88

Crude :  

15 of 10 analysts, forecast Crude Oil will rise in next week. 0 respondents predicted that futures will be little changed and 5 said the contract will fall.

S1:57.10 S2:55.86 S3:53.28
R1:58.95 R2:.59.83 R3:61.74

MCX Gold JUN :  

Now support for the Gold is seen at 91005 and below could see a test of 90150-88280. Resistance is now likely to be seen at 93595 a move above could see prices testing 95050-97955.

S1:91005 S2:90150 S3:88280
R1:93595 R2:95050 R3:97955

MCX Silver JUL :  

Now support for the silver is seen at 92655 and below could see a test of 90085-88190. Resistance is now likely to be seen at 94900 a move above could see prices testing 96150-98489.

S1:92655 S2:90085 S3:88190
R1:94900 R2:96150 R3:98489

MCX Crude Oil MAY :  

Now support for the Crude is seen at 4820 and below could see a test of 4550-4215. Resistance is now likely to be seen at 5158 a move above could see prices testing 5368-5620

S1:4820 S2:4550 S3:4215
R1:5158 R2:5368 R3:5620



MAY 5th :

ISM Services PMI :
Previous: 50.8 Forecast: 50.2
Actual > Forecast is good for Dollar

MAY 7th :

Federal Funds Rate :
Previous: 4.50% Forecast: 4.50%
Actual > Forecast good for Dollar

MAY 8th :

Unemployment Claims :
Previous: 241K Forecast: 232K
Actual < Forecast is good for Dollar

MAY 8th :

Prelim Nonfarm Productivity q/q :
Previous: 1.5% Forecast: -0.4%
Actual > Forecast is good for Dollar

MAY 8th :

Prelim Unit Labor Costs q/q :
Previous: 2.2% Forecast: 0.5%
Actual > Forecast is good for Dollar

APR 30th :

Advance GDP Price Index q/q :
Previous: 2.3% Forecast: 3.1%
Actual > Forecast good for Dollar

APR 30th :

Core PCE Price Index m/m :
Previous: 0.4% Forecast: 0.1%
Actual > Forecast is good for Dollar

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