Gold & silver price prediction today: MCX Gold to remain bullish? Here’s the outlook – The Times of India

Gold and silver price prediction today: Gold prices and silver prices continue to exhibit a bullish trend, says Abhilash Koikkara, Head – Forex & Commodities, Nuvama Professional Clients Group. He shares his views on gold and silver:

MCX GOLD Price Outlook

MCX Gold continues to remain on a bullish trajectory, despite witnessing some correction ahead of the recent Federal Reserve meeting. The pullback was more of a profit-booking phase rather than a trend reversal, as the broader sentiment for gold still favors the upside. Currently, gold prices have approached a very crucial support zone around ₹1,09,000 levels, which is likely to act as a strong floor for the metal. As long as prices sustain above this level, the overall structure remains positive, keeping buyers in control.The resilience of gold at this support indicates that market participants are still positioning themselves for higher levels. Key drivers such as global uncertainty, demand for safe-haven assets, and expectations of interest rate policies continue to lend strength to the metal. Technically, holding above the support opens the possibility of a move towards ₹1,11,000 levels in the near term. A decisive breakout above this level may further extend the bullish momentum.On the downside, a breach below ₹1,09,000 could invite fresh selling pressure, but until that occurs, the outlook stays constructive. Traders and investors are advised to remain cautiously optimistic, with a focus on buying at dips near the support zone.

MCX Gold Trading Strategy

MCX Silver Price Outlook

MCX Silver witnessed a healthy correction from ₹1,30,000 to ₹1,26,000 levels ahead of the recent Federal Reserve meeting, as traders preferred to book profits and stay cautious before the policy outcome. However, this decline appears more like a short-term retracement rather than a reversal in trend. The broader structure of silver continues to remain positive, supported by robust industrial demand, safe-haven buying, and global cues that favor precious metals in the medium term.Currently, silver is finding strong support near ₹1,25,000 levels, which is expected to act as a cushion against further downside. As long as prices sustain above this zone, the bias remains firmly upward. On the higher side, silver has the potential to rebound towards ₹1,29,000 levels, a zone that may act as immediate resistance. A sustained move above ₹1,29,000 could even pave the way for retesting the ₹1,30,000 levels once again.From a technical perspective, dips towards support are being viewed as fresh buying opportunities by traders, indicating continued bullish sentiment. On the flip side, a break below ₹1,25,000 may invite additional weakness. Until then, the outlook remains constructive, and investors may consider a buy-on-dips strategy.

MCX Silver Trading Strategy

(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)