Gold and Silver Price Prediction: Bullish Momentum to Drive Gains
Gold and silver prices are exhibiting a bullish bias and are poised for a steady rise in the coming days, according to Abhilash Koikkara, Head of Forex & Commodities at Nuvama Professional Clients Group. This positive outlook is supported by technical indicators and market trends, suggesting favorable conditions for investors.
MCX Gold Price Outlook: Strong Uptrend Intact
On the weekly chart, MCX gold has recorded gains for three consecutive weeks, maintaining bullish momentum after rebounding from recent lows. The metal has established support near the 30-week moving average, highlighting the strength of the prevailing uptrend. Currently, gold reflects an intermediate bullish outlook, indicating a potential accumulation phase for traders.
However, a decisive close below key support levels could trigger a deeper corrective move. Despite this risk, the broader uptrend remains intact as long as prices stay above recent swing lows. In the upcoming week, the area around the weekly low of 148,000 is expected to serve as a critical support zone, with any pullback toward this level likely to attract fresh buying interest and limit near-term downside risk.
As long as prices hold above 148,000, the bullish structure is likely to persist. Gold appears set to continue its upward trajectory toward the 165,000 level in the coming sessions, signaling a rebound from support and strengthening near-term bullish momentum. The sustained firmness in price action reinforces the positive outlook, suggesting further room for extension of the bullish move.
MCX Gold Trading Strategy
- Current Market Price (CMP): 153,400
- Target: 165,000
- Stop Loss: 148,000
MCX Silver Price Outlook: Constructive Tone with Upside Potential
From a weekly perspective, silver is building on its bullish move off support while trading above the key 30-week moving average. Following a 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 advised 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 signaling 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
- Current Market Price (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.
