Today's market is quite volatile, with both the ADP employment data and the new Fed Chair's speech. His remarks are likely to be used by market makers to whipsaw prices!

The ADP report is released at 8:15 PM ET. Watch if the actual figure exceeds the expected 110,000–113k. If it does, or is higher than last month's, it indicates employment remains strong, giving the Fed a reason to hike rates—bearish for gold and silver. Conversely, if it lowers rate hike expectations, it's bullish for gold and silver. Observe the market's initial reaction.

Right after, Fed Chair Kevin Walsh speaks at 9:30 PM. Focus on the tone of his speech:
If he continues to stress that "inflation remains high" and refuses to give clear forward guidance on rate cuts/hikes, the market will read it as hawkish, pressuring gold and silver. If he starts discussing "potential risks in the labor market" or "economic cooling," the market will read it as dovish, and gold and silver may see a rebound.

Note: July 4th is US Independence Day, so financial markets will close on July 3rd. Therefore, the non-farm payrolls (NFP) release is moved up one day to 8:30 PM on July 2nd. Don't miss this timing.