Analysts see further upside for MCX gold and silver

The Story in Brief

Gold and silver prices on the Multi Commodity Exchange show a technical upside bias, according to Abhilash Koikkara of Nuvama Professional Clients Group. Gold has moved above its consolidation range. The briefing lists its current price at 146,100, with support at 142,500 and resistance at 148,000 and 152,000. It gives a target of 152,000 and a stop loss at 142,500.

Silver has also broken out of consolidation. Its listed current price is 225,800, with support at 220,000, resistance at 230,000 and a weekly target of 238,000. The report says momentum supports the outlook, but a close below support could weaken it.

The Indian Opinion

These are short-term technical views, not assured predictions. The stated targets depend on prices holding key support levels. Gold and silver can also react to interest rates, currency movements and geopolitical events, which the briefing does not examine fully. Readers should therefore treat the outlook as conditional and remain cautious about market volatility.

Source: timesofindia.indiatimes.com

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