Gold and silver price prediction today: Gold prices are showing encouraging signs and the near-term trend remains bullish, while the base trend for silver also remains positive, says Abhilash Koikkara, Head – Forex & Commodities, Nuvama Professional Clients Group.
MCX Gold Price Outlook
MCX Gold has entered a consolidation phase at the start of the week after testing the May 2026 highs, but the fact that prices are continuing to hold around those levels is an encouraging sign that keeps the near-term trend firmly in bullish territory. With the base trend staying firmly positive, any near-term dip toward support is worth treating as an accumulation opportunity rather than a warning sign of a trend reversal.The breakout level of 156,000 level from the formation and last week’s key support, remains the crucial floor to watch heading into the current week. Any dip toward this zone should attract fresh buyers and limit the downside. Gold is targeting 170,000 as the next meaningful resistance, with the current setup continuing to favour the bullish bias. A sustained close above 164,500 on a daily basis would confirm that buyers have firmly resumed control and that the bullish move is back on track.Gold has started off the week on a strong note with a gap up opening, clearing the previous week’s move while the weekly trend continues to keep the door open for further gains. The 156,000 level is the support holding the bullish setup together & a breach of that level would call the bullish move into question. With momentum staying positive and the broader trend intact, gold looks well-positioned to extend its advance from current levels.
MCX Gold Trading Strategy
- CMP: Rs 161,900
- Target: Rs 170,000
- Stoploss: Rs 156,000
MCX Silver Price Outlook
Silver is consolidating around the monthly highs following the descending triangle breakout & a move that looks more like a healthy retest of the breakout level than a reversal. With the base trend staying positive, the pullback from recent highs toward the breakout level is worth treating as a potential buying opportunity. Silver’s short-term bias leans more sideways to positive compared to gold’s firmly bullish trend, but the bullish case from current levels stays intact and the broader setup continues to favour the upside.Following the recent pullback from the highs, the 239,000 level stands out as a strong support & it marks the breakout level and should limit any further downside. The near-term technical outlook stays positive as long as prices hold above this floor. A firm close below it would shift the bias, but any dips above that mark should attract buyers and keep the broader uptrend intact.Silver is eyeing 249,000 as the immediate resistance, with 256,000 as the next meaningful target beyond that. A move above 249,000 would confirm the bullish bias and keep the momentum firmly alive, technicals and momentum are both pointing in the right direction. The key support to hold remains at 239,000 & staying above that level keeps the bullish trend firmly in place.
MCX Silver Trading Strategy
- CMP: Rs 243,200
- Target: Rs 256,000
- Stoploss: Rs 239,000
(Disclaimer: Recommendations and views on the stock market, or any other asset classes or personal finance management tips given by experts and analysts are their own. These opinions do not represent the views of The Times of India.)
