Gold and Silver Price Prediction

Gold prices have experienced a sharp decline recently, while silver prices show signs of strength. Amid global geopolitical tensions and a strengthening dollar, the outlook for these precious metals is under scrutiny.

MCX Gold: Last week's 5% drop brought gold to a crucial support level near Rs 92,000. This level is technically significant; holding above it could signal a rebound, targeting Rs 95,000 to Rs 95,500. A break below Rs 92,000, however, may lead to further declines towards Rs 90,000.

MCX Silver: Silver is showing positive trends but is currently consolidating between Rs 95,300 and Rs 97,500. A breakout above Rs 97,500 could push prices towards Rs 1,00,000, while falling below Rs 95,300 might see a drop to Rs 92,000.

Traders should monitor these levels closely, as they will likely dictate the short-term market direction.