Market Theme 

Precious metals led the session, with gold pushing sharply higher. On the data front, USD Unemployment Rate printed 4.1%, below forecasts. 

The dollar index softened slightly 0.39%; gold jumped 2.19%; U.S. indices broadly higher (the Nasdaq 100 recovered 0.73%); in Europe the DAX rebounded 0.48%, the FTSE 100 nudged up 0.28%; in Asia-Pacific the Hang Seng advanced 1.22%, the Nikkei 225 rose modestly 0.67%, the ASX 200 gained 0.39%, the China A50 ticked up 0.84%; crude edged higher 0.98%. 

Market Recap 

In the precious metals, gold (XAUUSD) closed firmer on Friday, settling at 4,340.2, sharply higher by 2.19% on the day, printing a fresh 10-day high along the way. Silver (XAGUSD) powered higher 3.03% alongside it — with more beta than gold. The softer dollar index kept a floor under gold. With silver’s industrial character and its high correlation to gold, both show firm upside momentum in the current backdrop. Across the PGMs, platinum climbed 1.29%, in step with the precious complex. On the technicals, gold is trading clear of the upper Bollinger band; the RSI reads 66, neutral-to-firm, with momentum intact. Key resistance sits at the 4400 handle: a decisive break would harden the bull case, while a rejection puts the defence of the upper Bollinger band it broke above at 4,265.20 back in focus. Into the next session, JPY BoJ Summary of Opinions is the cue to watch for direction in the yen. Overall, buyers keep the initiative and the firmer tone can extend until a fresh macro driver lands, though upside stays capped until the 4400 handle clears decisively. 

The Hang Seng (HK50) ground steadily higher on Friday, settling at 25,811.5, firmer by 1.22% on the day. The session lacked a single macro driver, leaving technicals in charge. Initial resistance sits at 26,269.77 (the upper Bollinger band), with support eyed at 25,764.65 (the 10-day moving average). Near term, price keeps trading above its main moving averages, leaving the uptrend structure intact; watch whether the upper Bollinger band at 26,269.77 gives way. On the daily chart, the RSI has moved into overbought territory at 71 — the advance looks stretched. Overall, the trend itself still points up and the debate is about pace rather than direction, though with the RSI overbought the risk-reward of chasing is fading. 

Key Levels 

XAUUSD — resistance 4400 (round-number handle) / 4,371.84 (session high); support 4,265.20 (the upper Bollinger band it broke above) / 4,190.85 (the 5-day moving average) 

XAGUSD — resistance 65 (round-number handle); support 62.448 (the upper Bollinger band it broke above) / 60.879 (the 5-day moving average) 

HK50 — resistance 26,269.77 (the upper Bollinger band) / 26000 (round-number handle); support 25,764.65 (the 10-day moving average) / 25,339.70 (the 20-day moving average) 

Economic Calendar Recap & Preview 

Today’s focus: JPY BoJ Summary of Opinions at 08:50 JST (Japan) 

Why it matters: high-impact release — volatility can pick up sharply around it 

Market consensus: no consensus published 

What to watch: This release lands most directly on the yen; volatility around it can pick up sharply, and the direction has to wait for the print itself. 

On the data front, USD Unemployment Rate printed 4.1% (prior 4.2%, forecast 4.2%), below forecasts; USD Nonfarm Payrolls printed -23K (prior 57K, forecast 41K), below forecasts; USD Average Hourly Earnings m/m printed 0.1% (prior 0.3%, forecast 0.3%), below forecasts; JPY Household Spending y/y printed -3.3% (prior -0.4%, forecast -1.8%), below forecasts. Looking to the next 24 hours (Mon 10 Aug 2026), the calendar highlights JPY BoJ Summary of Opinions at 08:50 JST (Japan) — likely to steer the yen near-term; JPY Current Account n.s.a. at 08:50 JST (Japan) (forecast 2290.8B, prior 3968.3B); JPY Adjusted Current Account at 08:50 JST (Japan) (forecast 3421.0B, prior 3064.5B); CNY PBC New Loans at 09:00 CST (China) (forecast 0.591T, prior 1.610T). 

Volatility alert: silver’s daily range ran to about 204% of its ATR — swings are running hot, so mind the risk. 

Tick-volume data are not provided. Volatility can pick up quickly — please mind position sizing and risk management. This report is dated by its publication day (China time) and recaps the previous completed trading session. Server time is set to GMT+3 during U.S. Daylight Saving Time and GMT+2 during U.S. Standard Time.