Megha Das 
According to Navneet Damani, Senior VP of Commodity Research at Motilal Oswal Financial Services, gold climbed to a three-week high as the U.S. dollar and Treasury yields fell in response to poor economic data.
Today’s focus will be on US GDP and private payroll data, which, if published lower than anticipated, could further support gold and silver price gains, he explained.
On the COMEX, the broader trend could be between $1,915 and $1,950, and on the domestic front, prices could fluctuate between Rs 59,000 and Rs 59,650.
After data showed a decline in US job openings in July, the dollar fell against its major counterparts, reversing earlier gains; benchmark 10-year Treasury yields also declined from 10-month highs.
The disappointing Job Openings and Labour Turnover Survey and consumer confidence reports suggest that the Federal Reserve may not raise interest rates as much as previously anticipated, thereby bolstering bullion prices.
In contrast to expectations, US consumer confidence data was reported at 106.1, raising queries about consumer expenditure and overall confidence in economic activities, he said.
According to the CME Fed-Watch tool, the probability of a pause at the September meeting of the Federal Reserve has increased from 80% to 88%, thereby increasing the safe-haven appeal of gold and silver prices.
This week, investors will focus on the US personal consumption expenditures price index and nonfarm payrolls for additional insight into the direction of interest rates.
