Gold, silver price: Will precious metals continue to tank? Check outlook for today
The 152,000 zone is shaping up as a strong resistance area. (AI image) Gold and silver price prediction today Gold prices are seeing a bearish
The 152,000 zone is shaping up as a strong resistance area. (AI image) Gold and silver price prediction today Gold prices are seeing a bearish structure with the downtrend in place. Silver prices are trading cautiously, though with a negative bias, says Abhilash Koikkara, Head - Forex & Commodities, Nuvama Professional Clients Group. MCX Gold Price Outlook MCX Gold Trading Strategy CMP: 149130 Target: 140000 Stop Loss: 157000 MCX Silver Price Outlook MCX Silver Trading Strategy CMP: 234000 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.) MCX Gold has gapped down at the open, reflecting weak market sentiment and continued selling pressure in the near term.
The price structure stays bearish, with lower highs and lower lows keeping the downtrend firmly in place. Traders should stay cautious and hold off on aggressive buying until a clear trend reversal is confirmed.The 152,000 zone is shaping up 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 view sits at 140,000 as 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; any of these can move gold prices and stir up short-term volatility.Proper position sizing and disciplined risk management remain essential.MCX Silver continues to trade with a cautious to negative bias, with the broader market structure favouring 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, 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.
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