Gold & silver price prediction today: Will gold & silver rates continue to fall? Here’s what investors should know

Gold price prediction: The short-term sentiment appears slightly bearish as prices have breached key support levels, suggesting the possibility of further downside movement. (AI image)

Gold and silver price prediction today: Gold and silver prices are exhibiting weakness following correction and profit booking, says Abhilash Koikkara, Head – Forex & Commodities, Nuvama Professional Clients Group. He shares his views on gold and silver:

MCX GOLD Outlook

MCX Gold has witnessed notable profit booking after a strong rally, leading to a correction from recent highs of ₹1,31,000 to current levels around ₹1,27,000. This decline indicates a pause in the ongoing uptrend as traders and investors book profits following the recent surge. The short-term sentiment appears slightly bearish as prices have breached key support levels, suggesting the possibility of further downside movement.If selling pressure continues, gold prices could extend their correction towards ₹1,24,000, which remains the next crucial support zone. A sustained move below this level may open the door for deeper declines. However, on the upside, immediate resistance is seen at ₹1,31,000 — the previous swing high — and any move above this level could reinstate bullish momentum in the metal.From a broader perspective, global factors such as the movement of the US dollar, bond yields, and geopolitical developments will continue to influence gold prices. Investors are also keeping a close eye on cues from the Federal Reserve regarding interest rate trends. Overall, while the short-term outlook points to a possible corrective phase, the long-term bias for MCX Gold remains positive as it continues to be a preferred hedge against inflation and uncertainty.

MCX GOLD Trading Strategy

MCX SILVER Outlook

COMEX Silver has slipped below the crucial $50 mark and is currently trading near $48, indicating a clear sign of weakness after failing to sustain higher levels. This decline reflects renewed selling pressure and profit booking as investors turn cautious amid changing global market sentiment. The metal, which recently touched multi-year highs, is now witnessing a corrective phase driven by a stronger US dollar and rising bond yields.On the domestic front, MCX Silver has mirrored the global trend, correcting sharply from ₹1,70,000 to ₹1,50,000. The momentum remains negative, and prices are likely to extend their decline towards the ₹1,42,000 level, which serves as the next major support zone. Any short-term recovery is expected to face resistance around ₹1,56,000, where selling pressure may re-emerge.Market participants should remain cautious as volatility could persist in the near term. The broader outlook for silver will depend on global economic data, inflation trends, and industrial demand, especially from the renewable energy and electronics sectors. While the near-term trend remains bearish, long-term fundamentals for silver continue to stay strong, supported by its dual nature as both a precious and industrial metal.

MCX SILVER Trading Strategy

(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)