Gold & silver price prediction today: Will gold rate test Rs 99,000 mark soon - what's the outlook and should you buy or sell?

Gold and silver price prediction today: Both gold and silver prices are showing strength, with gold heading towards Rs 99,000, says Abhilash Koikkara, Head - Forex & Commodities, Nuvama Professional Clients Group. Silver is also exhibiting a bullish trend. What should gold and silver investors do and what’s the outlook for gold and silver rates in the near future? Abhilash Koikkara shares his views:

MCX GOLD Outlook

MCX Gold prices have shown strong momentum, rallying from the support zone of ₹96,000 and now inching closer to the ₹99,000 mark. This uptrend is supported by positive global cues and a bullish sentiment surrounding safe-haven assets. Geopolitical tensions, inflation concerns, and central bank policies have continued to push investors towards gold, boosting demand

Technically, gold has broken above short-term resistance levels and is now forming higher highs and higher lows on the daily chart — indicating sustained bullish momentum. The strength in the dollar index and fluctuations in U.S. treasury yields remain key global drivers, but domestic developments like tariff structures and festive demand could amplify the upside move.

Traders are advised to maintain a buy-on-dips approach as long as gold sustains above ₹96,500 on a closing basis. Immediate resistance is seen near ₹99,000, and a breakout above that could open the gates for ₹1,00,500 in the near term. Overall, the outlook remains positive with a bullish bias for the week, backed by both technical and fundamental factors.

MCX GOLD Trading Strategy

• CMP: Rs 97,200
• TARGET: Rs 99,000
• STOPLOSS: Rs 96100

MCX SILVER Outlook

MCX Silver continues to trade in a bullish structure, forming higher highs and higher lows on the daily chart — a clear sign of sustained upward momentum. The metal is expected to move towards ₹1,10,000 in the near term, as long as the key support at ₹1,05,500 remains intact. Technically, any pullback towards ₹1,06,000–₹1,05,500 could offer fresh buying opportunities with a favorable risk-reward setup.

From a fundamental perspective, silver is gaining strength from both industrial demand and safe-haven appeal. With the global push towards green energy and electric vehicles, demand for silver — a key component in solar panels and battery technologies — is rising steadily. Additionally, the recent dovish stance by major central banks and expectations of potential rate cuts in the coming quarters have weakened the dollar and supported precious metals across the board.

Overall, the outlook for MCX Silver remains positive. As long as the ₹1,05,500 support zone holds, the path of least resistance remains upward, with ₹1,10,000 being the next key target in the short term.

MCX SILVER Trading Strategy

• CMP: Rs 1,07,000
• TARGET: Rs 1,10,000
• STOPLOSS: Rs 1,05,500

(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)

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