Gold & silver price prediction today: Will gold rate stay above Rs 1 lakh mark – what’s the outlook and should you buy or sell? – Times of India

Gold price prediction: With constructive momentum constructing, and sturdy world cues, MCX Gold might proceed its northward journey in the close to time period. (AI picture)

Gold and silver price prediction as we speak: Gold costs might take a look at the Rs 101,700 ranges in the close to future on the again of total bullish sentiments, say analysts. Silver costs too recommend that the upward pattern will probably proceed. What gold and silver rate ranges should traders be careful for? What should the MCX Gold and MCX Silver goal costs be in the close to time period? Abhilash Koikkara, Head – Foreign exchange & Commodities, Nuvama Skilled Purchasers Group shares his views:

MCX Gold Outlook:

Gold costs on the Multi Commodity Trade (MCX) have surged previous the ₹100,000 mark, signaling sturdy bullish momentum. This rally is being supported by world cues, notably the breakout in COMEX Gold, which has breached the essential resistance stage of $3430 per ounce. This breakout signifies additional upside potential in each worldwide and home markets.The bullish sentiment is anticipated to push MCX Gold costs in the direction of ₹101,500 in the quick time period, with the risk of testing ₹101,700 ranges in the coming week. Sturdy shopping for curiosity, supported by world financial uncertainty, central financial institution purchases, and inflationary considerations, continues to supply a agency base for gold costs.Merchants and traders should stay cautious of quick-time period corrections however can keep a bullish bias so long as costs maintain above the assist stage of ₹99,400. A cease-loss close to this stage is suggested to handle threat successfully. General, the pattern stays upward, and any dip in the direction of ₹100,000 could possibly be seen as a shopping for alternative.With constructive momentum constructing, and sturdy world cues, MCX Gold might proceed its northward journey in the close to time period, attracting extra consumers and probably setting new document highs in the course of.

MCX Gold Buying and selling Technique

MCX Silver Outlook

MCX Silver costs have climbed to the ₹116,000 mark, indicating sturdy bullish momentum in the valuable metals area. The rally is supported by each home demand and constructive cues from worldwide markets, the place silver continues to realize energy amid rising industrial demand and ongoing macroeconomic uncertainties.The present price motion means that the upward pattern remains to be intact, and there seems to be extra room for the rally to increase additional. Technically, silver has maintained greater highs and greater lows, which is a basic signal of a bullish continuation sample. If the momentum sustains, MCX Silver is prone to take a look at ₹118,000 ranges in the close to time period, with a possible to stretch additional in the direction of ₹120,000.On the draw back, speedy assist is seen close to ₹114,000, which is anticipated to behave as a cushion in opposition to any quick-time period corrections. So long as costs stay above this stage, the bullish pattern is prone to proceed. Merchants can search for shopping for alternatives on minor dips, preserving a cease-loss under ₹114,000 to handle dangers successfully.With sturdy fundamentals and favorable technical construction, silver stays poised for additional features. Market contributors should stay alert to key price ranges and world developments which will affect the valuable metals area.

MCX Silver Buying and selling Technique

(Disclaimer: Suggestions and views on the inventory market and different asset courses given by specialists are their very own. These opinions don’t symbolize the views of The Times of India)