Gold and Silver Price Prediction: Bullish Momentum Expected to Continue
Gold and silver prices are likely to extend their gains in the coming days, according to Abhilash Koikkara, Head of Forex and Commodities at Nuvama Professional Clients Group. The precious metals have shown resilience in recent weeks, with technical indicators supporting a positive outlook for investors and traders.
MCX Gold Price Outlook: Sideways-to-Bullish Trend Intact
On the weekly chart, MCX gold is displaying a sideways-to-bullish trend, having recorded gains for three consecutive weeks while holding near the levels of the prior two weeks. Prices are approaching trendline resistance, which underscores the underlying strength of the current uptrend. The metal maintains an intermediate bullish outlook, suggesting a potentially favourable accumulation phase for market participants.
However, a decisive close below key support levels could trigger a deeper correction. Despite this risk, the broader uptrend remains intact as long as prices hold above recent swing lows. In the coming week, the region near the weekly low of 148,500 is expected to serve as a critical support zone, highlighting its technical relevance. Any dip toward this level may attract fresh buying interest, thereby cushioning near-term downside pressure.
As long as prices sustain above this threshold, the broader bullish structure should remain intact. Conversely, a decisive close below it would negate the current bullish bias. Gold appears set to extend its advance toward the 165,000 level in the upcoming sessions. A move in that direction would indicate a bounce from support and could reinforce near-term bullish momentum.
Additionally, the persistent strength in price action supports a positive outlook, suggesting that the recovery may have further scope to continue its upward trajectory. In summary, gold retains a bullish bias, supported by a constructive underlying trend that indicates further upside potential. With momentum indicators aligned and sentiment still favourable, the metal is well-positioned to maintain its positive outlook and extend its upward move in the sessions ahead.
MCX Gold Trading Strategy
Current Market Price (CMP): 153,900
Target: 165,000
Stoploss: 148,500
MCX Silver Price Outlook: Bullish Momentum Extends
From a weekly standpoint, silver is extending its bullish momentum, forming higher highs while consistently holding above the key 30-week moving average. After rebounding from recent lows, the price structure signals a positive bias. With the broader trend still upward, any near-term dips could present strategic accumulation opportunities, as long as the previous week’s low remains intact.
Traders are advised to align with the prevailing trend and maintain prudent stop-loss levels near the latest weekly lows to manage risk effectively. The market began the week on a strong footing, rebounding from recent lows and indicating sustained upward momentum. The constructive outlook is expected to persist as long as prices remain above key weekly support levels.
Immediate support is placed near the previous week’s low at 230,000, and a decisive close below this level could undermine the current bullish sentiment. Until then, short-term declines are likely to attract buying interest, reinforcing the continuation of the broader uptrend. On the upside, silver appears ready to revisit the previous breakdown zone near the 280,000 resistance area over the near to medium term.
A sustained move toward this level would reinforce the ongoing bullish trend, supported by steady momentum and favourable technical indicators. Overall, as long as prices hold above the 230,000 support zone, the broader uptrend is likely to remain intact, paving the way for further gains amid improving sentiment.
MCX Silver Trading Strategy
Current Market Price (CMP): 250,000
Target: 280,000
Stoploss: 230,000
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.
