MCX Gold, on the weekly timeframe, continues to demonstrate healthy bullish momentum following a decisive breakout. (AI image)

Gold and silver price prediction: Gold and silver prices are moving to newer highs, and the bullish momentum is likely to continue in the coming sessions as well, says Abhilash Koikkara, Head – Forex & Commodities, Nuvama Professional Clients Group. He shares his views on gold and silver:

MCX Gold Price Outlook

MCX Gold, on the weekly timeframe, continues to demonstrate healthy bullish momentum following a decisive breakout from a brief consolidation phase and is presently trading near its all-time high of 164,900. The upside bias is firmly established, with minimal evidence of a trend reversal, indicating that the advance is likely to stay toward higher levels. The recent acceleration further confirms the strength and sustainability of the move, while the broader outlook remains constructive as long as prices sustain above the weekly low.From a weekly perspective, the 157,500 zone emerges as a key support level, representing the recent lows of the previous week. Any retracement toward this area is likely to attract fresh buying interest, thereby cushioning the downside in the near term. Holding above this level preserves the bullish market structure and maintains positive momentum.Gold appears well poised to advance toward the 185,000 level in the upcoming sessions. This prospective upside is in harmony with the broader bullish trend and underlines the strength of prevailing market momentum. Additionally, the development of higher highs and higher lows over the week further reinforces positive sentiment, setting the stage for a sustained upward trajectory.Overall, gold maintains an optimistic bias, with the broader technical framework decisively favouring trend continuation. As long as prices remain firmly above the critical 157,500 support level, the bullish formation remains intact. Supported by robust momentum indicators and a favourable market sentiment backdrop, the metal appears well positioned to extend its advance in the sessions ahead.

MCX Gold Trading Strategy

MCX Silver Trading Outlook

MCX Silver has registered new all-time highs for the fifth consecutive week, extending a well-established sequence of higher highs that has persisted for several months. With little evidence of momentum decline, the overall bias remains decisively positive, and any corrective pullbacks are likely to attract renewed buying interest. We recommend positioning in line with the prevailing trend, which remains firmly bullish, while refraining from positions that go against this strong upward momentum.Silver’s early-week rally has underscored a resurgence in trend strength, enhancing the prospects for additional upside. Provided prices continue to hold above the weekly support levels, the bullish bias should remain intact. The immediate key support is located around the 340,000 zone, which may offer an attractive accumulation opportunity. Any retracement toward this area is likely to draw fresh buying interest, helping to stabilize prices and preserve upward momentum.On the upside, silver appears well positioned to test the 415,000 resistance over the near to medium term. This anticipated move reflects a continuation of the current bullish phase, supported by strong momentum and favourable technical indicators. Overall, provided prices remain firmly anchored above the 340,000 support level, silver is expected to maintain its bullish trend, with considerable scope for further appreciation 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)