Gold and silver prices have regained momentum after a recent correction, signalling a return of bullish sentiment across the precious metals space, according to market experts.
Gold and silver have rebounded strongly after witnessing profit booking from recent highs, supported by improving technical indicators and sustained buying interest at key support levels. Analysts believe the broader trend remains positive, with further upside likely if prices continue to hold above critical supports.
MCX Gold Price Outlook
On the weekly timeframe, MCX Gold has undergone a healthy correction from its all-time high of ₹180,779. However, prices have found strong support near the rising trendline and have rebounded, indicating a resumption of the broader bullish trend.
The recent price action reinforces the strength of the uptrend, with momentum indicators pointing towards sustainability. From a technical perspective, the ₹147,000 level has emerged as a crucial support zone, aligning with the 30-day exponential moving average.
Any pullback towards this region is expected to attract fresh buying interest, helping to limit downside risks in the near term. As long as prices remain comfortably above this support, the bullish structure remains intact.
Gold appears well positioned to move towards the ₹175,000 mark in the coming sessions. A decisive close above this level would further validate the bullish bias for subsequent periods.
MCX Gold Trading Strategy
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CMP: ₹159,000
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Target: ₹175,000
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Stop-loss: ₹147,000
MCX Silver Price Outlook
MCX Silver has also witnessed a healthy pullback from its all-time high of ₹420,048 and has since rebounded from recent lows, signalling a revival of bullish momentum.
The underlying trend remains positive, and any near-term dips are likely to be viewed as buying opportunities, provided the latest weekly low holds. Analysts recommend aligning positions with the prevailing trend while maintaining a disciplined stop-loss strategy.
Silver’s early-week rally has strengthened the outlook for further upside. As long as prices stay above key weekly support levels, the positive bias is expected to persist.
Immediate support is seen near the ₹245,000 zone. A sustained move below this level could weaken sentiment, but until then, any correction is likely to attract buying interest. On the upside, silver may test the ₹330,000 resistance level in the near to medium term.
MCX Silver Trading Strategy
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CMP: ₹284,000
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Target: ₹330,000
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Stop-loss: ₹245,000
Overall Outlook
Both gold and silver continue to display a constructive technical setup, supported by strong momentum indicators and favourable market sentiment. As long as key support levels remain intact, the broader trend suggests further upside potential in the coming sessions.
Disclaimer: Recommendations and views on the stock market, commodities, or personal finance shared by experts are their own and do not represent the views of this publication.
