Gold price prediction: Where are gold and silver headed today?

Overall, MCX Gold continues to maintain a positive technical outlook, with 155,000 as the potential upside level.

Gold and silver price prediction today: Gold is seeing some fresh buying interest, while silver is weaker in comparison, says Abhilash Koikkara, Head - Forex & Commodities, Nuvama Professional Clients Group. Here’s what the expert has to say:

MCX Gold Price Outlook:

MCX Gold has moved higher after taking support near the 147,000 levels, indicating renewed buying interest at lower levels.

The price structure remains positive as gold continues to hold above its key support zone, suggesting that the broader uptrend is still intact. If the current momentum sustains, prices can move higher towards the 155,000 levels in the coming sessions.The 147,000 level remains an important support zone and should be closely monitored on a closing basis. As long as prices sustain above this level, the bullish setup remains intact, and any short-term dips towards the support zone could attract fresh buying interest.

A sustained move above recent highs could further strengthen the upward momentum and open the possibility of prices gradually moving towards the 155,000 target.Traders should monitor price action around both the support and resistance levels, particularly for a breakout accompanied by strong volumes and momentum. However, a decisive close below 147,000 could weaken the current positive structure and increase the possibility of further correction.

Overall, MCX Gold continues to maintain a positive technical outlook, with 155,000 as the potential upside level and 147,000 serving as the key support for the current move.

MCX Gold Trading Strategy

• CMP: Rs 150000
• Target: Rs 155000
• Stop Loss: Rs 147000

MCX Silver Price Outlook

MCX Silver is currently showing comparatively weaker price action than Gold, indicating that the bullish momentum in silver is not as strong at present. However, the broader precious metals trend remains supportive, and if Gold continues to move higher, Silver could also follow the positive momentum and gradually strengthen from current levels.From a technical perspective, MCX Silver can move higher towards the 232,000 levels if the current support zone holds and buying interest continues to emerge on declines. The 221,000 level remains an important support and should be closely monitored on a closing basis. As long as prices sustain above this support, the possibility of an upward move towards 232,000 remains open.A sustained move above the recent highs could improve the overall technical structure and attract fresh buying interest.

Traders should also monitor the relative strength of Silver against Gold, as continued outperformance by Gold could indicate that Silver may require additional time to gain momentum.On the downside, a decisive close below 221,000 could weaken the current positive setup and increase the possibility of further correction. Overall, MCX Silver remains moderately positive, with 232,000 as the potential upside level and 221,000 as the key support for the current trend.

MCX Silver Trading Strategy

• CMP: Rs 225000
• Target: Rs 232000
• Stop Loss: Rs 221000

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