# Nuvama sees sideways to bearish trend for gold and silver 2026-09-24T13:36:28+00:00 | Business & Economy | Indian Opinion Desk Corroboration: 1 independent outlet Gold and silver prices are expected to stay under pressure in the near term, with a sideways to bearish trend, according to Abhilash Koikkara, Head of Forex and Commodities at Nuvama Professional Clients Group. MCX Gold is trading at Rs 151,300, with a target of Rs 144,000 and a stop loss at Rs 155,000. A sustained break below the 148,000 support level could extend the decline to the 144,000 to 140,000 zone. MCX Silver, trading at Rs 234,600, has a target of Rs 225,000 and a stop loss at Rs 244,000. Koikkara said the key support for silver this week is 225,000, with resistance at 245,000 and then 248,000. A move above 248,000 would confirm a bullish bias. The overall technical outlook remains weak, and momentum indicators point to a continued corrective phase. ## Indian Opinion Analysis Commodity prices have been under global pressure from a strong US dollar and expectations that the US Federal Reserve will keep interest rates higher for longer. Gold, which hit an all-time high above Rs 170,000 per 10 grams on MCX in early 2024, has corrected sharply since then. The 148,000 level is the last major support before the 144,000-140,000 zone, which was last tested in October 2023. A daily close above 155,000 would be the first sign that the bearish momentum has broken. For silver, the 225,000 level is critical: it held as support in late November 2024 and if it breaks, the next floor is around 210,000. The next major trigger for both metals will be the US non-farm payrolls data, due on the first Friday of every month, which influences the dollar and rate expectations. ## Coverage - timesofindia.indiatimes.com Tags: Abhilash Koikkara, gold, MCX, Nuvama, silver Canonical: https://indianopinion.org/nuvama-sees-sideways-to-bearish-trend-for-gold-and-silver/ License: Summary and commentary (c) Indian Opinion, reusable with attribution. Facts belong to the linked sources. Cite: https://indianopinion.org/nuvama-sees-sideways-to-bearish-trend-for-gold-and-silver/#story-in-brief