Gold and Silver Price Prediction Today
Gold prices are consolidating and silver prices are exhibiting a sideways to bullish bias, according to Abhilash Koikkara, Head of Forex & Commodities at Nuvama Professional Clients Group. The precious metals market shows resilience with key support levels holding firm.
MCX Gold Price Outlook
MCX Gold is maintaining its consolidation phase, defending the previous swing low support, which keeps a sideways to bullish tone intact. The base trend remains firmly upward, making any near-term dip a potential accumulation opportunity. Traders should watch the recent swing lows closely; a firm close below key support risks a deeper correction, but holding above those levels keeps the broader uptrend alive.
The level of 148,000 deserves the most attention heading into the week. It marks the recent week's low and stands as the most critical support on the chart. A pullback to this zone should attract buyers and limit further weakness. Holding above it keeps the bullish structure sound, but a decisive close below would negate the intermediate bullish move entirely and change the picture quickly.
Gold has its target set on 160,000 as the next resistance, and the setup continues to shape up well for the upside in the sessions ahead. Reaching that level would confirm that the bounce from support had real legs and that buyers have firmly reclaimed control. With price action staying positive and showing no signs of exhaustion, the path of least resistance remains higher, and further gains look well within reach.
A bright start to the week for Gold is expected, with prices likely to challenge the consolidation ceiling in the sessions ahead. The weekly trend leaves room for more upside. The 148,000 support is the backbone of the current bullish setup; cracking that level would shift the narrative fast. Momentum sits in neutral, sentiment stays optimistic, and gold has the makings of a move higher from current levels.
MCX Gold Trading Strategy
- CMP: 152,400
- Target: 160,000
- Stop Loss: 148,000
MCX Silver Price Outlook
MCX Silver has recovered from last week's low and is holding a sideways to bullish tone heading into the sessions ahead. The underlying trend remains positive, with prices finding support near the weekly moving average, keeping the broader setup intact. The positive price structure and upward pointing trend make any near-term weakness toward last week's low a potential accumulation zone. Traders should trade with the prevailing trend and place stop-losses close to the weekly breakout level to stay protected against any sharp reversal.
A bullish start to the week for Silver is expected, but recent sessions have seen prices consolidate around the recent high. The bullish case holds as long as 235,000 remains intact as the key weekly support. Losing that level on a closing basis would shift the tone for bulls, but dips ahead of that are likely to be bought into, keeping the uptrend alive.
The level of 265,000 is the next target in silver's upmove, with the swing high at 270,000 as an immediate target for the week. A clean close above 270,000 unlocks further upside and keeps the bullish momentum going, as technicals and momentum are both supportive. The critical support to protect remains at 235,000; holding above it keeps the case for further gains strong.
MCX Silver Trading Strategy
- CMP: 249,000
- Target: 270,000
- Stop Loss: 235,000
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.
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