Gold and silver price prediction: Gold and silver prices have bounced back from recent lows, and appear to be on path for a long-term rise, believes Abhilash Koikkara, Head – Forex & Commodities, Nuvama Professional Clients Group. The commodity expert shares his outlook for gold and silver in the coming sessions:
MCX Gold Price Outlook
On the weekly chart, MCX Gold continues to maintain a bullish bias after rebounding successfully from the trendline support. A decisive break above last week’s high of 160755, which is currently acting as immediate resistance, would further confirm and strengthen the bullish outlook. The recent pickup in momentum highlights the strength and sustainability of the move, and the broader trend remains positive as long as prices stay above the weekly low.For the week ahead, the level of 148,400 should be a key support zone, coinciding with the 30-day exponential moving average and reinforcing its technical significance. Any corrective dip toward this region is likely to attract renewed buying interest, thereby protecting near-term downside pressure. Holding above this limit maintains the broader bullish outline and underlines the existing upward momentum.Gold appears to continue its advance toward the 175,000 level in the upcoming sessions. A firm close ahead of this mark would serve as confirmation of continued bullish strength in the periods ahead. This projected move is consistent with the larger uptrend and reflects solid underlying momentum. Additionally, the consistent pattern of higher highs and higher lows on the weekly chart reinforces the constructive outlook and signals the potential for a sustained rally.In summary, gold maintains a positive outlook, with the technical framework favouring further upside. Provided prices remain firmly above the critical 148,400 support zone, the bullish structure stays intact. Supported by strong momentum signals and an encouraging sentiment background, the precious metal looks positioned to extend its advance in the sessions ahead.
MCX Gold Trading Strategy
- CMP: 158,500
- Target: 175,000
- Stop Loss: 148,400
MCX Silver Price Outlook
MCX Silver has rebounded from its recent lows, with prices currently testing a key retracement zone and indicating a potential continuation of the broader uptrend. Since the underlying trend remains positive, interim declines may present buying opportunities, provided the previous weekly low continues to hold. Traders are advised to align with the prevalent trend while keeping stop-loss levels placed near the recent weekly lows to manage risk effectively.The strong start to the week reinforces the return of bullish momentum and supports expectations of further gains. The positive outlook remains intact as long as prices trade above the established weekly support levels. Immediate support is positioned near the 226,000 mark; a decisive close below this area could temper the bullish view. Until such a breakdown occurs, corrective dips are likely to invite renewed buying interest, helping to sustain the upward trajectory.On the higher side, silver seems poised to challenge the 315,000 resistance level in the near to medium term. Such a move would reinforce the continuation of the ongoing bullish cycle, supported by solid momentum and constructive technical signals. Overall, as long as prices hold decisively above the 226,000 support zone, the uptrend is likely to remain intact, leaving room for further gains amid strengthening positive sentiment.
MCX Silver Trading Strategy
- CMP: 264,500
- Target: 315,000
- Stop Loss: 226,000
(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)
