Gold on MCX could test ₹101,700 amid global COMEX breakout; Silver may reach ₹120,000. Support, resistance & investment tips inside.
🔥 Why Gold Is Trending Higher on MCX
According to analysts, the bullish momentum in gold is being fueled by a breakout on COMEX above the critical $3,430/oz mark. With global uncertainties and central bank purchases still strong, experts anticipate:
- MCX Gold might push toward ₹101,500–₹101,700 in the upcoming week.
- A rally exceeding ₹100,000 cements the bullish trend for the near term.
🛡️ Key Support & Risk Levels for Gold
- Support at ₹99,400: traders are advised to set stop-loss here to limit downside.
- Buying dips toward ₹100,000 could be a smart move; the broader trend remains upward.
🥈 Silver Poised to Challenge ₹120,000
Mixing industrial demand with global momentum, MCX Silver continues its strong advance and is expected to:
- First target ₹118,000
- Potentially rally further to ₹120,000
🛡️ Silver Support Line
- Immediate support sits at ₹114,000—a breach below this could trigger short-term corrections.
- Stick with a bullish bias and maintain stop-losses below ₹114,000 when trading dips.
📊 Summary Table: What to Watch
| Asset | Current (Approx.) | Near‑Term Target | Key Support Level |
|---|---|---|---|
| MCX Gold | ₹100,000+ | ₹101,500–₹101,700 | ₹99,400 |
| MCX Silver | ₹116,000 | ₹118,000 → ₹120,000 | ₹114,000 |
💡 Analyst Tips & Strategy
- Gold: Maintain a bullish stance as long as support holds. Consider entries on minor pullbacks.
- Silver: Ride the wave of higher highs/lows but watch for corrections near ₹114,000.
- Risk Management: Always use stop-losses—at ₹99,400 for gold and ₹114,000 for silver—to protect investments.
🌐 Factors That Could Alter the Trend
- Global cues: U.S. CPI/PPI data, Fed policy signals, and geopolitical tensions can rapidly shift momentum.
- Tech breakdown: A breakdown below key support levels (₹99,400 for gold, ₹114,000 for silver) would signal possible corrections.
- Institutional flows: ETF activity and central bank buying will be crucial.
- Currency moves: A sharp rise in the INR could dampen domestic prices.
- Seasonality: Cultural demand in India for marriages and festivals can influence short-term prices.
🧭 Final Take
Gold and silver remain well-positioned for further gains, supported by both technical breakouts and fundamental tailwinds. The smart play is to monitor support levels and maintain discipline with entry and exit strategies according to investor risk appetite.
