Gold, silver price prediction: Where are gold & silver prices headed in the near future? Check MCX Gold, MCX Silver price outlook

The 151,000 level is the one to keep on the radar heading into the week, it carries added technical significance as both a key support and the recent week’s low. (AI image)

Gold and silver price prediction today: MCX Gold is showing a bearish bias and MCX Silver is consolidating this week, according to Abhilash Koikkara, Head – Forex & Commodities, Nuvama Professional Clients Group.

MCX Gold Price Outlook

MCX Gold is holding a sideways to bearish tone on the weekly chart, with prices moving back toward the recent breakout zone following the consolidation breakdown. The base trend continues to point higher, and the current near-term dip as well as any further weakness ahead could present solid accumulation opportunities. That said, a firm close below key support levels could invite a deeper pullback, but as long as the recent swing lows hold, the broader uptrend stays intact.The 151,000 level is the one to keep on the radar heading into the week, it carries added technical significance as both a key support and the recent week’s low. Any weakness toward this zone is likely to bring buyers back in and put a floor under the downside. The broader bullish structure stays intact as long as prices hold above it, but a clean close below that mark would be enough to negate the bullish move on an intermediate basis and shift the tone meaningfully.Gold has its eyes on 165,000 as the next meaningful stop, and the setup continuing to shape up in favour of the upside in the sessions ahead. A push toward that level would confirm that the bounce from support had legs and that buyers are firmly back in the picture. With price action staying constructive and showing no signs of weakness, the path of least resistance stays higher and further gains look well within reach.Gold has had a negative week, but the sessions ahead should see prices find support near the 30-week moving average, with the positive underlying trend on the weekly chart keeping further upside on the table. The 151,000 level is the intermediate floor holding the broader bullish structure together, lose that and the picture changes quickly. Momentum indicators are sitting in a sideways bias, sentiment leans sideways to bullish, and gold looks well-placed to push higher from here.

MCX Gold Trading Strategy

MCX Silver Price Outlook

MCX Silver is consolidating on the weekly chart, pushing up against the previous week’s high as the first resistance to clear. The base trend stays bullish, with prices building a base near the weekly lows and finding support along an upward sloping trendline. The price structure remains positive, and with the broader trend still pointing up, any dip toward the previous week’s low is worth watching as a buying opportunity. Stay with the trend and keep stop-losses near the weekly breakout level to guard against any sudden downside.Silver opened the week strongly but has given back gains in recent sessions. The bullish bias holds as long as prices stay above key weekly lows, with 250,000 as the immediate support to watch. A firm close below that mark would put bulls under pressure, but until that happens, any short-term weakness is likely to draw buyers in and keep the broader uptrend on track.Silver has 285,000 in its sights as the next meaningful target, with the recent swing high at 300,000 as the bigger level to aim for beyond that. A firm close above 300,000 would open the door to further upside and keep the bullish trend firmly in play, backed by steady momentum and supportive technical readings. Below, 250,000 is the floor holding the broader uptrend together, as long as that level stays intact, further gains remain very much on the table.

MCX Silver Trading Strategy

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