Gold and silver prices are exhibiting bearish trends, with gold maintaining a downtrend and silver trading cautiously with a negative bias, according to Abhilash Koikkara, Head of Forex & Commodities at Nuvama Professional Clients Group.
MCX Gold Price Outlook
MCX Gold opened with a gap down, reflecting weak market sentiment and continued selling pressure in the near term. The price structure remains bearish, characterized by lower highs and lower lows that keep the downtrend firmly intact. Traders are advised to exercise caution and refrain from aggressive buying until a clear trend reversal is confirmed.
The 152,000 zone is emerging as a strong resistance area. Any pullback or recovery toward this level is likely to attract fresh selling interest, making it a potential opportunity for short positions, provided prices show clear signs of rejection or fail to hold above that mark.
The downside target for this bearish view is set at 140,000, which represents the next meaningful support area based on current momentum and the broader technical structure. To manage risk, a stop loss at 157,000 is recommended. A sustained move above that level would invalidate the bearish outlook and signal a possible shift in momentum.
Global cues, dollar movement, central bank signals, and geopolitical developments are all worth watching closely, as any of these factors can influence gold prices and stir up short-term volatility. Proper position sizing and disciplined risk management remain essential for traders.
MCX Gold Trading Strategy
- CMP: 149,130
- Target: 140,000
- Stop Loss: 157,000
MCX Silver Price Outlook
MCX Silver continues to trade with a cautious to negative bias, with the broader market structure favoring a sell-on-rise approach in the near term. Recent price action shows upward moves running into resistance, while upside momentum remains limited.
From a technical standpoint, 240,000 stands out as an important resistance zone. Any recovery or short-term rally toward this level could present an opportunity to initiate fresh sell positions, particularly if prices fail to hold above it and show signs of weakness.
On the downside, 225,000 is the immediate target, representing a key support level and a potential area for profit booking. The expected move lower is backed by prevailing market sentiment and a technical setup that continues to point toward sustained selling pressure.
A stop-loss at 249,000 is advised to keep risk in check. A sustained move above that level would invalidate the bearish outlook and signal a possible shift in momentum toward the upside. Traders should also keep a close eye on global precious metals markets, US dollar movement, interest rate expectations, and industrial demand trends, as these factors can significantly sway silver prices and stir up short-term volatility.
MCX Silver Trading Strategy
- CMP: 234,000
- Target: 225,000
- Stop Loss: 249,000
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.
