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Gold & silver price prediction today: Will bullish momentum of MCX Gold, MCX Silver continue ahead of Diwali? Here’s the outlook for gold, silver rates – The Times of India
Gold and silver price prediction today: Both gold and silver prices are exhibiting strong bullish momentum and investors should look to buy on dips, says Abhilash Koikkara, Head – Forex & Commodities, Nuvama Professional Clients Group. He shares his views on gold and silver:
MCX Gold Outlook:
MCX Gold prices are currently trading around the ₹1,27,000 mark, reflecting strong bullish momentum. On the international front, COMEX gold is comfortably holding above the $4,000 level, further reinforcing the positive trend. This price behaviour indicates that gold is consistently forming higher lows, which is a classic sign of strength in technical analysis. The ability to protect previous support levels suggests that buyers are active at lower levels, absorbing selling pressure and preparing for potential upside moves.From a short-term trading perspective, gold prices have the potential to move towards the ₹1,30,000 level if the current momentum continues. Traders can consider accumulating positions near the ₹1,26,000 support zone, where buying interest has previously emerged. A strong support base is seen at ₹1,23,500, and any dip toward this level may offer a good risk-reward entry for bullish positions.Given the ongoing geopolitical tensions, inflationary concerns, and a weak global economic outlook, gold remains a preferred safe-haven asset. These factors are likely to keep demand strong and prices buoyant in the near term. As long as prices sustain above the key support levels, the outlook for gold remains optimistic with further upside potential.
MCX Gold Trading Strategy:
- CMP: 127000
- Target: 130000
- Stoploss: 123500
Buy on Dips near to 126000 for the above mentioned target
MCX Silver Outlook
MCX Silver has shown significant strength and has outperformed MCX Gold in recent sessions, currently trading around ₹1,60,000 levels. This rally reflects robust bullish sentiment driven by a combination of industrial demand, investment interest, and a positive technical setup. Silver’s strong price action suggests that market participants are confident in its upside potential, especially as it continues to make higher highs and higher lows, a clear sign of an ongoing uptrend.Compared to gold, silver tends to exhibit more volatility, which can offer attractive trading opportunities. Any corrective move or dip toward the ₹1,57,000 level can be seen as a buying opportunity, supported by strong demand and momentum. On the upside, prices have the potential to move toward ₹1,63,000 in the near term. Traders should maintain a stop-loss at ₹1,54,000 to manage risk effectively in case of unexpected price reversals.Silver’s dual role as both a precious and industrial metal makes it a favored asset in times of economic uncertainty, as well as during periods of industrial recovery. With favorable fundamentals and technical strength, silver remains well-positioned for further gains, and buying on dips strategy could prove rewarding in the current market environment.
MCX Silver Trading Strategy
- CMP: 160000
- Target: 163000
- Stoploss: 154000
Buy on Dips near to 157000 for the above mentioned target(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)
The government on Thursday kept petrol and high-speed diesel (HSD) prices unchanged at Rs253.17 per litre and Rs257.08 per litre respectively, for the coming fortnight, starting from January 16.
This decision was notified in a press release issued by the Petroleum Division.
Earlier, it was expected that the prices of all petroleum products would go down by up to Rs4.50 per litre (over 1pc each) today in view of variation in the international market.
Petrol is primarily used in private transport, small vehicles, rickshaws, and two-wheelers, and directly impacts the budgets of the middle and lower-middle classes.
Meanwhile, most of the transport sector runs on HSD. Its price is considered inflationary, as it is mostly used in heavy transport vehicles, trains, and agricultural engines such as trucks, buses, tractors, tube wells, and threshers, and particularly adds to the prices of vegetables and other eatables.
The government is currently charging about Rs100 per litre on petrol and about Rs97 per litre on diesel.
One of Britain’s most prolific rail fare dodgers could face jail after admitting dozens of travel offences.
Charles Brohiri, 29, pleaded guilty to travelling without buying a ticket a total of 112 times over a two-year period, Westminster Magistrates’ Court heard.
He could be ordered to pay more than £18,000 in unpaid fares and legal costs, the court was told.
He will be sentenced next month.
District Judge Nina Tempia warned Brohiri “could face a custodial sentence because of the number of offences he has committed”.
He pleaded guilty to 76 offences on Thursday.
It came after he was convicted in his absence of 36 charges at a previous hearing.
During Thursday’s hearing, Judge Tempia dismissed a bid by Brohiri’s lawyers to have the 36 convictions overturned.
They had argued the prosecutions were unlawful because they had not been brought by a qualified legal professional.
But Judge Tempia rejected the argument, saying there had been “no abuse of this court’s process”.
JSW Jetour T2 Launch: JSW Motors Limited, the passenger vehicle arm of the JSW Group, is reportedly preparing to enter the Indian car market this year. It has partnered with Jetour, a China-based automotive brand owned by Chery Automobile, and the Jetour T2 SUV could be the company’s first product, according to the reports.
Media reports suggest that the launch will happen independently and not under the JSW MG Motor India joint venture. The SUV will wear a JSW badge and name, instead of the Jetour branding. The upcoming SUV will be assembled at JSW’s upcoming greenfield manufacturing facility in Chhatrapati Sambhaji Nagar, Maharashtra.
According to the reports, the company plans to have the vehicle on sale by the third quarter of this year. With this move, JSW aims to establish itself as a standalone carmaker in India.
Expected Powertrain
The SUV is likely to arrive with a 1.5-litre plug-in hybrid setup. Internationally, this hybrid powertrain is offered with both front-wheel drive and all-wheel drive options. It is still unclear which version will be introduced in India.
Design
In terms of design, the T2 is a large and rugged-looking SUV. It has a boxy and upright stance, similar to vehicles like the Land Rover Defender. Despite its tough appearance, it uses a monocoque chassis instead of a ladder-frame construction.
Size
The SUV measures around 4.7 metres in length and nearly 2 metres in width. This makes it larger than the Tata Safari, even though it is a five-seater. A longer 7-seat version is also sold in some markets.
Price
Pricing details for India are yet to be announced. For reference, the front-wheel-drive five-seat T2 i-DM is priced at AED 1,44,000 (around Rs 35 lakh) in the UAE.
Jetour
Jetour is a brand owned by Chinese automaker Chery. Launched in 2018, it focuses mainly on SUVs and is present in markets across China, the Middle East, Africa, Southeast Asia and Latin America.
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