Gold & silver price prediction: Gold, silver at new highs – where are prices heading in next few days?

On the upside, MCX Gold has potential to advance toward the 145,000 level in the upcoming sessions. (AI image)

Gold and silver price prediction: Gold prices are likely to maintain their uptrend and silver too is showing signs of strength, says Abhilash Koikkara, Head – Forex & Commodities, Nuvama Professional Clients Group. He shares his views on gold and silver:

MCX Gold Outlook

MCX Gold remains in a strong uptrend, consistently forming higher highs and higher lows, highlighting the current bullish momentum. This price action reflects sustained buying interest on declines and indicates that the broader trend continues to stay firmly upward. As long as this structure remains intact, the outlook for MCX Gold remains positive.From a technical standpoint, immediate support is seen near the 134,500 level, which has served as a strong base in recent price action, with buying interest repeatedly emerging on minor dips. Any pullback toward this zone is likely to invite fresh buying, helping to limit downside risk in the near term. Sustaining above this support level keeps the bullish structure firmly intact.On the upside, MCX Gold has potential to advance toward the 145,000 level in the upcoming sessions. This objective is in line with the ongoing trend and highlights the strength of the prevailing momentum. A sustained breakout above intermediate resistance levels could further fuel the upward move.Overall, unless there is a clear and decisive break below the 134,500 support, MCX Gold is likely to retain its positive bias. The broader technical setup continues to favour trend continuation, with further upside potential as long as momentum and market sentiment remain supportive.

MCX Gold Trading Strategy

MCX Silver Outlook

MCX Silver has delivered a decisive breakout from a consolidation phase, signalling a strong positive technical development and pointing toward the continuation of the uptrend. Consolidation periods usually reflect a temporary balance between buyers and sellers, and a breakout from such formations often results in an accelerated price move as momentum picks up. The latest price action in MCX Silver indicates that buyers have taken control, reinforcing a bullish outlook.From a technical perspective, the breakout signals renewed strength in the trend and increases the likelihood of further upside. If prices remain above the breakout zone, the bullish bias is expected to stay intact. Immediate key support is seen near the 215,000 level, which now serves as a solid base. Any pullback toward this zone could draw fresh buying interest, helping to stabilize prices.On the upside, MCX Silver has the potential to reach the 240,000 level in the near to medium term. This target is based on the height of the consolidation range and is in line with the prevailing momentum. Overall, if prices stay above the 215,000 support, MCX Silver is likely to maintain its positive trajectory, with further upside achievable as bullish sentiment continues to strengthen.

MCX Silver Trading Strategy

(Disclaimer: Recommendations and views on the 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)