Gold, silver price prediction today: Gold, silver back on track for gains? Here’s the outlook

Gold price prediction today (AI image)

Gold and silver price prediction: Gold and silver prices have resumed their upward momentum after the recent crash, signalling bullish momentum, says Abhilash Koikkara, Head – Forex & Commodities, Nuvama Professional Clients Group. He shares his views on gold and silver:

MCX Gold Price Outlook:

MCX Gold on the weekly timeframe has undergone a correction from its all-time high of 180,779. However, prices have found support at the rising trendline and have rebounded, indicating a resumption of the bullish trend. The recent acceleration reinforces the strength and sustainability of the move, and the broader outlook remains positive as long as prices hold above the weekly low.

From a weekly standpoint, the 147,000 region stands out as a crucial support, aligned with the 30-days exponential moving average. Any pullback toward this zone is expected to draw fresh buying interest, helping to limit downside risk in the near term. Sustaining above this level keeps the bullish structure intact and supports ongoing positive momentum.Gold looks well positioned to move toward the 175,000 mark in the coming sessions, and a decisive close above this level would validate the bullish bias for subsequent periods. This potential upside aligns with the broader uptrend and highlights the strength of prevailing momentum. Moreover, the formation of higher highs and higher lows over the week further supports positive sentiment and points to the likelihood of a sustained upward move.Overall, gold continues to exhibit a positive bias, with the broader technical structure clearly supporting trend continuation. As long as prices stay comfortably above the key 147,000 support level, the bullish setup remains valid. Backed by strong momentum indicators and a supportive market sentiment environment, the metal appears well placed to carry its upward move forward in the coming sessions.

MCX Gold Trading Strategy:

MCX Silver Price Outlook:

MCX Silver has seen a healthy pullback from its all-time high of 420,048 and has since rebounded from recent lows, signalling a resumption of the bullish trend. With the underlying trend still positive, any ongoing dips may be viewed as buying opportunities as long as the latest weekly low holds. We advise aligning positions with the prevailing uptrend, while maintaining a controlled stop-loss at the recent weekly lows.Silver’s rally at the start of the week signals a renewed bullish trend and strengthens the outlook for further upside. As long as prices remain above the weekly support levels, the positive bias is expected to persist. Immediate key support is seen around the 245,000 zone, and a close below this level could weaken the bullish outlook. Until then, any pullback is likely to attract fresh buying interest, sustaining upward momentum.On the upside, silver appears well positioned to test the 330,000 resistance over the near to medium term. This prospective move points to a continuation of the prevailing bullish phase, backed by strong momentum and favourable technical indicators. Overall, provided prices remain firmly above the 245,000 support level, silver is expected to sustain its uptrend, with ample scope for further appreciation as bullish sentiment continues to strengthen.

MCX Silver Trading Strategy:

(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)