Gold and silver price prediction today: Gold and silver are exhibiting a slightly bearish bias, according to Abhilash Koikkara, Head – Forex & Commodities, Nuvama Professional Clients Group.

MCX Gold Price Outlook

MCX Gold, on the weekly timeframe, has retreated from its recent highs and remained under selling pressure over the past week. From a technical standpoint, prices have faced resistance at a significant trendline, with the daily chart now forming a sequence of lower lows, a classically bearish pattern. A sustained breakout above the trendline, however, could shift sentiment and invite fresh upside. For now, the intermediate trend remains rangebound to negative, reflecting a broader corrective structure, with a firm break below key support potentially accelerating the downside.Looking ahead to the coming week, the region around the weekly low of 140,000 is anticipated to emerge as a pivotal support zone, highlighting its importance from a technical perspective. As the ongoing correction runs its course, prices are expected to test this level making any short-term uptick a potential opportunity for fresh short positions rather than a cause for bullish conviction.Conversely, gold faces a notable resistance wall around the recent peak of 155,500 in the near term. Should prices manage a convincing breakout above this threshold, it would effectively invalidate the current bearish momentum and pave the way for a fresh upside move. A consistent hold above this level, moreover, would offer stronger confirmation that the corrective phase has run its course, and bullish sentiment has reclaimed control.To summarize, gold’s overall bias remains tilted to the downside, supported by a determined negative trend that keeps further losses on the table. The intermediate bearish framework is expected to stay intact so long as prices fail to reclaim the key resistance threshold of 155,500. With momentum indicators reinforcing the bearish case and market sentiment echoing the downside narrative, the metal looks poised to sustain its corrective momentum and press lower in the near term.

MCX Gold Trading Strategy

MCX Silver Price Outlook

From a weekly standpoint, silver’s price action reflects a sideways to bearish bias, as the silver faces conflict at trendline resistance. The second straight week of negative closes reinforces the case for an intermediate bearish period taking hold. In this setting, we expect traders would be well-served to align their positions with the dominant trend while placing stop-loss levels around the prior weekly highs to effectively manage downside risk.The market opened the week on a weak footing, with prices trading below the 30-day Exponential Moving Average (EMA), a sign that the negative bias remains in force. The bearish outlook is likely to persist as long as prices stay capped under key weekly resistance levels. Immediate support and the near-term target converge around the recent swing lows at 220,000, and a decisive close below this level could further deepen bearish bias. In the interim, any short-term bounce back is expected to be treated as opportunities to sell.To the upside, silver appears poised to challenge the trendline resistance in the area of 255,000 in the coming sessions. If the prices manage a convincing and sustained close above this threshold, it will weaken the ongoing bearish trend, a view currently reinforced by momentum indicators. On balance, the bearish structure is likely to remain dominant as long as 255,000 continues to act as a ceiling, paving the way for additional downside corrections ahead.

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)

The price of Brent crude oil surged past $125 a barrel early Thursday as stalled US–Iran talks raised doubts over the reopening of the Strait of Hormuz and a permanent end to the Iran war.

Brent crude to be delivered in June jumped 6.2 per cent to $125.36 early Wednesday. Brent to be delivered in July rose 3.1 per cent to $113.85.

Before the start of the war in late February, Brent crude was trading around $70 per barrel.

The Iran war, which is in its ninth week, still sees no clear path to an end. The US has continued its blockade of Iranian ports while the Strait of Hormuz, is closed, pushing oil prices higher.

US West Texas Intermediate futures for June were up $2.42, or 2.3 per cent, ⁠at $109.30 a barrel, after climbing 7 per cent in the previous session, climbing in eight of nine sessions.

Both benchmarks are on track for their ​fourth month of gains.

US president Donald Trump is slated to receive a briefing on Thursday on plans for a series of military strikes ​on Iran in hopes it will return to negotiations on its nuclear programme, according to an Axios report late on Wednesday.

The US and Israel began air strikes on Iran on 28 February and it retaliated by closing off almost all shipping through the Strait of Hormuz, a chokepoint for energy supplies from ​Middle Eastern producers.

Amid a ceasefire that has paused active combat, the US has imposed a blockade on Iranian ports. Talks to resolve the ​conflict, which has killed thousands and caused what analysts say is the world’s biggest energy disruption ever, have deadlocked, with the US insisting on discussing ‌Iran’s alleged ⁠nuclear weapons programme and Iran demanding some control over the strait and reparations for damage from the war.

“The oil market has moved from over-optimism to the reality of the supply disruption we are seeing in the Persian Gulf,” said ING analysts in a note.

In a sign the conflict and resulting energy supply disruptions are set to continue for longer, Mr Trump spoke on Wednesday with oil companies about how to mitigate ​the impact of a possible ​months-long US blockade, a White ⁠House official said.

“Prospects for any near-term resolution to the Iran conflict or a reopening of the Strait of Hormuz remain dim,” IG market analyst Tony Sycamore said in a note.

The Opec+ grouping of members of ​the Organisation of the Petroleum Exporting Countries and its allies is likely to agree a small increase ​of around 188,000 ⁠barrels per day in oil output quotas on Sunday, sources told Reuters.

The meeting comes just after the United Arab Emirates’ withdrawal from Opec, effective 1 May, which is expected to deal a blow to the oil producer group’s ability to control prices. Although the Gulf nation’s exit ⁠would allow ​it to raise production after exports restart, analysts say that is unlikely to affect ​market fundamentals this year, especially with the Hormuz closure and other production disruptions from the war.”

Gulf countries, including the UAE, will take months to return to pre-war production ​volumes,” Wood Mackenzie analysts said in a note.

(Additional inputs from Reuters)

The Pakistan Stock Exchange (PSX) came under heavy selling pressure on Thursday, with the benchmark KSE-100 Index shedding more than 4,800 points, or 2.9 per cent, during early trading hours.

According to the latest market highlights, the KSE-100 Index was trading at 161,011.70, down 4,812.17 points from the previous close of 165,823.87. The index witnessed an intraday high of 164,357.47 and a low of 160,391.18, reflecting significant volatility in the session.

Market analysts attributed the sharp decline to profit-taking by investors on concerns over macroeconomic indicators. Trading activity remained robust, with the total volume reaching 161.18 million shares, while the traded value stood at Rs12.02 billion.

The market opened in the red and remained under pressure throughout the morning session. A broad-based sell-off was observed across major sectors, dragging the benchmark index lower.

At the time of filing this report, the market was still open with the KSE-100 Index struggling to recover from the day’s losses.

Also Read: Bears tighten grip on PSX as early gains vanish

On Wednesday, selling pressure intensified at the PSX, wiping out early gains and pushing the market deep into the red, as investors remained wary of building fresh positions.

The benchmark KSE-100 index swung between the intra-day high of 169,686 and the low of 165,391, reflecting heightened volatility. Persistent stock selling dragged the index down by 2,588.35 points, or 1.54%, to 165,823.88 at the end of trading.

The decline was broad-based, with all major sectors contributing to the downturn. Heavyweight commercial banks led the losses while oil and gas exploration firms, oil marketing companies, power producers and refineries also remained under pressure.

Arif Habib Limited (AHL) observed that a huge day of heavyweight earnings largely disappointed and saw the market under pressure, which shed 1.54%.

On the benchmark index, only 21 shares rose while 79 fell, with Millat Tractors (+4.08%), Cherat Cement (+2.69%), and DG Khan Cement (+1.63%) being the major positive contributors.

In contrast, UBL (-2.65%), NBP (-8.77%), and Oil & Gas Development Company (-3.11%) were the biggest index drags.