Analysts assess whether recent gold and silver price rise is sustainable

The Story in Brief

Gold and silver forecasts on August 6, 2026 show a technical upside bias. Abhilash Koikkara, Head – Forex & Commodities at Nuvama Professional Clients Group, says MCX Gold has breached consolidation and is heading toward recent swing highs, indicating an intermediate bullish move. The 142,500 level is identified as crucial support for the week; a move below recent lows would put the positive trend under pressure. Immediate resistance levels are 148,000 and 152,000. The article lists MCX Gold CMP at 146,100, with a target of 152,000 and a stop loss at 142,500.

Silver has also stepped out of consolidation and is aligning with its base trend, with a near‑term recovery expected. The 220,000 level is cited as strong support, while 230,000 is the immediate resistance and 238,000 the swing‑high target for the week. MCX Silver CMP is given as 225,800, target 238,000 and stop loss 220,000. The report says technicals and momentum back the move but notes that a firm close below support would change the bias.

The Indian Opinion

The piece is a concise technical briefing with specific price levels and trading parameters. Readers should note it primarily presents short‑term technical analysis and a trading strategy, rather than a full account of macroeconomic drivers such as global interest rates, currency moves or geopolitical events that also influence metals. The article includes a disclaimer saying views are those of the expert; that underlines that these are opinions, not guarantees. Given market volatility, the clearly stated support and resistance levels are useful reference points, but breaches of those levels would change the outlook and add uncertainty to the calls made here.

Original article: Gold, silver price prediction: Is gold, silver price rise sustainable? Check outlook (timesofindia.indiatimes.com)

This story was summarised and commented on by AI from the source linked above.