Gold, silver price prediction: Where are gold and silver prices heading?
Gold has immediate resistance at 147,000 and 149,000, with the current setup continuing to favour the bullish bias in the sessions ahead. Gold and silver
Gold has immediate resistance at 147,000 and 149,000, with the current setup continuing to favour the bullish bias in the sessions ahead. Gold and silver price prediction today Gold and silver prices are showing positive movement and dips may attract buyers, says Abhilash Koikkara, Head - Forex & Commodities, Nuvama Professional Clients Group. MCX Gold Price Outlook MCX Gold Trading Strategy CMP: 141,670 Target: 149,000 Stop Loss: 139,500 MCX Silver Price Outlook MCX Silver Trading Strategy CMP: 218,000 Target: 238,000 Stop Loss: 210,000 (Disclaimer: Recommendations and views on the stock market, or any other asset classes or personal finance management tips given by experts and analysts are their own. These opinions do not represent the views of The Times of India.) MCX Gold has continued to trade through the consolidation this week, with prices lacking any clear directional bias for the past six weeks.
With the broader trend being positive, making any dip toward support a buying opportunity rather than any sign for trend reversal. A move below the recent lows, however, would put that positive trend under pressure.The level of 139,500 is the crucial support to hold heading into the week, being the recent swing low. Any dip toward this zone is likely to draw fresh buyers and limit the downside. A decisive break below it, however, would weaken the positive outlook and invite fresh selling pressure.Gold has immediate resistance at 147,000 and 149,000, with the current setup continuing to favour the bullish bias in the sessions ahead. A push toward those levels would confirm that the bounce from support had real conviction and that buyers have firmly reclaimed control.Gold has opened the week on a positive note, recovering from consolidation support while the weekly trend keeps the door open for further gains.The 139,500 mark serves as the backbone of the bullish setup, a breach of that level would call off the active trend.
With momentum staying constructive and the broader trend intact, gold appears well-positioned to extend its advance from current levels.Silver has bounced from consolidation support and is now trading within a narrower range, with a near-term recovery looking increasingly likely. Similar to gold, the broader trend for silver stays positive, and prices are expected to find support at the recent lows and push higher from there.Silver has strong support around 210,000, which is expected to limit any further downside. As long as prices hold above this level, the short-term technical outlook continues to favour a bounce. A closing breach of that mark would shift the tone considerably, but any dips above it are likely to draw buyers in and keep the broader uptrend alive.The next resistance for silver is placed at 230,000, with the swing high at 238,000 as the crucial resistance to target beyond the week.
The BriefWire