Gold, silver price prediction: Is gold, silver price rise sustainable? Check outlook
MCX Gold has breached from its consolidation and is heading toward the recent swing highs, pointing to an intermediate bullish move underway. Silver has stepped out of its consolidation and is now aligning with the base trend, a near-term recovery looks well on the cards. Much like gold’s positive trend, silver is expected to hold its positive bias and push higher from current levels.
Gold and silver price outlook for today: Abhilash Koikkara, Head of Forex & Commodities at Nuvama Professional Clients Group, shares insights. MCX Gold is breaking from consolidation and moving toward recent highs, indicating a potential intermediate bullish trend. A dip towards the recent lows may trigger buying opportunities. Key support level at 142,500 could provide a cushion for downside.
Gold targets 148,000 and 152,000 as immediate resistance levels. MCX Silver is exiting consolidation and showing signs of recovery, maintaining a positive bias. Support at 220,000 is crucial for limiting weakness. Silver aims for 230,000 and 238,000 as target levels. Both commodities show promising short-term prospects based on current trends.
Written by urgent.news from Times of India's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
