Gold and Silver Price Forecast Today: Will Gold Rise to Rs 1.65 Lakh/10 Gram and Touch Silver to Rs 2.70 Lakh/Kg? –

Gold and silver price forecasts today: Gold and silver prices are witnessing some bullish bias and are likely to see a steady rise in the coming days, says Abhilash Koykara, Head of Forex and Commodities at Nuvama Professional Client Group.

Gold price MSX Expectations

On the weekly chart, MCX Gold has posted gains for three consecutive weeks, maintaining its upward momentum after bouncing off recent lows. It has established support near the 30-week moving average, indicating the continued strength of the prevailing uptrend. The metal is currently reflecting a moderately bullish outlook, indicating a potentially favorable accumulation phase. However, a decisive close below key support levels could trigger a deeper corrective move.

Despite this, the broader uptrend remains in place as long as prices remain above recent swing lows.Next week, the area around the weekly low at 148,000 is expected to act as a major support area, underscoring its technical importance. Any pullback towards this level may attract new buying interest, helping to limit downside risks in the near term. As long as prices remain above this mark, the broader bullish structure is likely to remain intact.

However, a decisive close below this level would invalidate the prevailing bullish outlook.It seems that gold is ready to continue its upward move towards the 165,000 level in the coming sessions. Such a rise would signal a rebound from support and could boost bullish momentum in the near term. Moreover, the continued stability in price action reinforces the positive outlook, indicating that the recovery may have more room to extend the upward movement.In short, gold maintains a bullish bias, supported by the positive underlying trend indicating further upside potential. As long as prices remain above the key support level of 148,000, the broader bullish structure is likely to continue. With momentum indicators aligned and sentiment remaining favourable, the metal is well placed to maintain its positive bias and continue its upward trajectory in the coming sessions.

MCX Gold Trading Strategy

Missex Silver price forecast

From a weekly perspective, silver is banking on its upward movement away from support as it continues to trade above the key 30-week moving average. After a positive bounce from the recent lows, the price structure reflects a constructive tone. With the broader trend continuing to point higher, near-term pullbacks may provide strategic accumulation opportunities, provided the previous week’s low holds. Market participants are encouraged to align their positions with the prevailing trend and maintain prudent stop-loss levels near the recent weekly lows to manage risk effectively.The market opened the week strong, bouncing off recent lows, indicating continued bullish momentum. The positive outlook is likely to continue as long as prices remain above key weekly support levels. Immediate support is near the previous week’s low at 225,000, and a decisive close below this level could challenge the current bullish sentiment. Until then, short-term declines are expected to attract buying interest, supporting the continuation of the broader uptrend.On the upside, silver appears set to retest the previous breakdown zone around the 270,000 point resistance area in the near to medium term. A continued move towards this level would further confirm the prevailing uptrend, supported by steady momentum and supportive technical indicators. Overall, as long as prices remain above the 225,000 support zone, the broader uptrend is expected to remain intact, opening the door for further gains amid improving positive sentiment.

MCX Silver Trading strategy

(Disclaimer: Recommendations, opinions regarding stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times Of India)