Gold and silver price prediction: Gold and silver price directions will continue to be influenced by global factors – US Federal Reserve’s stance, ongoing Iran-Israel conflict, and US President Donald Trump’s trade policies. Abhilash Koikkara, Head – Forex & Commodities, Nuvama Professional Clients Group shares his outlook on gold and silver prices and the trading strategy for investors:
MCX Gold Outlook
MCX Gold is currently testing a crucial support zone around ₹98,700 per 10 grams, presenting a potential buying opportunity for traders. This level aligns with recent technical analysis, which indicates that the 98,700–98,800 range is a significant support area. A bounce from this zone could propel prices toward the next resistance at ₹1,01,000, with a stop-loss placed below ₹98,000 to manage risk effectively.For those considering a long position, entering near ₹98,700 with a target of ₹1,01,000 offers a favourable risk-to-reward ratio. It’s essential to monitor global developments closely, as any escalation in geopolitical tensions could further bolster gold prices.
MCX Gold Strategy
- CMP: Rs 99,300
- Target: Rs 1,01,000
- Stop Loss: 98,000
MCX Silver Outlook
MCX Silver has recently surpassed the ₹109,000 per kilogram mark and is approaching the ₹110,000 level, indicating a continuation of its bullish trend. This upward momentum is supported by a completed bullish pattern on COMEX Silver, where prices have crossed the $37 per ounce threshold, signaling strong investor confidence.Technically, MCX Silver has completed a bullish pattern. This breakout suggests potential further gains, projecting a target of ₹111,900, provided the support at ₹107,500 holds. A failure to maintain this support could lead to a retracement, but the prevailing trend remains positive.Geopolitical tensions, particularly in the Middle East, continue to bolster silver’s appeal as a safe-haven asset.In summary, with strong technical indicators and supportive macroeconomic factors, MCX Silver presents a favorable trading opportunity. Traders may consider entering positions near ₹107,500, targeting ₹111,900, while placing stop-loss orders below ₹107,000 to manage risk effectively.
MCX Silver Strategy
- CMP: Rs 1,09,500
- Target: Rs 1,11,900
- Stop Loss: Rs 1,07,500
(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)
