Gold and silver price prediction today: Both gold and silver prices are seeing some bullish bias and are likely to see a steady rise in the coming days, says Abhilash Koikkara, Head – Forex & Commodities, Nuvama Professional Clients Group.
MCX Gold Price Outlook
On the weekly chart, MCX Gold has posted gains for three straight weeks, sustaining its bullish momentum after rebounding from recent lows. It has established support near the 30-week moving average, indicating the ongoing strength of the prevailing uptrend. The metal currently reflects an intermediate bullish outlook, suggesting a potentially favourable accumulation phase. However, a decisive close below key support levels could trigger a deeper corrective move. Despite this, the broader uptrend remains intact as long as prices stay above the recent swing lows.In the upcoming week, the area around the weekly low of 148,000 is expected to act as a key support zone, underscoring its technical significance. Any pullback toward this level could attract fresh buying interest, helping to limit near-term downside risk. As long as prices hold above this mark, the broader bullish structure is likely to remain intact. However, a decisive close below it would invalidate the prevailing bullish outlook.Gold looks poised to continue its upward move toward the 165,000 level in the coming sessions. Such a rise would signal a rebound from support and could strengthen near-term bullish momentum. Moreover, the sustained firmness in price action reinforces the positive outlook, indicating that the recovery may have further room to extend the bullish move.In summary, gold maintains a bullish bias, underpinned by a positive underlying trend that points to further upside potential. As long as prices hold above the key support level of 148,000, the broader bullish structure is likely to persist. With momentum indicators in alignment and sentiment remaining favourable, the metal is well-positioned to sustain its positive bias and continue its upward trajectory in the sessions ahead.
MCX Gold Trading Strategy
- CMP: 153,400
- Target: 165,000
- Stop Loss: 148,000
MCX Silver Price Outlook
From a weekly perspective, silver is building on its bullish move off support while continuing to trade above the key 30-week moving average. Following the positive rebound from recent lows, the price structure reflects a constructive tone. With the broader trend still pointing upward, near-term pullbacks may offer strategic accumulation opportunities, provided the previous week’s low holds. Market participants are encouraged to align positions with the prevailing trend and maintain prudent stop-loss levels near the latest weekly lows to manage risk effectively.The market opened the week on a firm note, bouncing back from recent lows and signalling continued upward momentum. The positive outlook is likely to hold as long as prices stay above key weekly support levels. Immediate support is seen near the previous week’s low at 225,000, and a decisive close below this level could challenge the current bullish sentiment. Until then, short-term dips are expected to draw buying interest, supporting the continuation of the broader uptrend.On the upside, silver seems poised to retest the prior breakdown zone around the 270,000 resistance area in the near to medium term. A sustained move toward this level would further confirm the prevailing bullish trend, backed by steady momentum and supportive technical indicators. Overall, as long as prices remain above the 225,000 support zone, the broader uptrend is expected to stay intact, opening the door for further gains amid improving positive sentiment.
MCX Silver Trading Strategy
- CMP: 244,200
- Target: 270,000
- Stop Loss: 225,000
(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)
