Gold price prediction: For those considering a long position, entering near ₹98,700 with a target of ₹1,01,000 offers a favourable risk-to-reward ratio. (AI image)

Gold and silver price prediction: Gold and silver price directions will continue to be influenced by global factors – US Federal Reserve’s stance, ongoing Iran-Israel conflict, and US President Donald Trump’s trade policies. Abhilash Koikkara, Head – Forex & Commodities, Nuvama Professional Clients Group shares his outlook on gold and silver prices and the trading strategy for investors:

MCX Gold Outlook

MCX Gold is currently testing a crucial support zone around ₹98,700 per 10 grams, presenting a potential buying opportunity for traders. This level aligns with recent technical analysis, which indicates that the 98,700–98,800 range is a significant support area. A bounce from this zone could propel prices toward the next resistance at ₹1,01,000, with a stop-loss placed below ₹98,000 to manage risk effectively.For those considering a long position, entering near ₹98,700 with a target of ₹1,01,000 offers a favourable risk-to-reward ratio. It’s essential to monitor global developments closely, as any escalation in geopolitical tensions could further bolster gold prices.

MCX Gold Strategy

MCX Silver Outlook

MCX Silver has recently surpassed the ₹109,000 per kilogram mark and is approaching the ₹110,000 level, indicating a continuation of its bullish trend. This upward momentum is supported by a completed bullish pattern on COMEX Silver, where prices have crossed the $37 per ounce threshold, signaling strong investor confidence.Technically, MCX Silver has completed a bullish pattern. This breakout suggests potential further gains, projecting a target of ₹111,900, provided the support at ₹107,500 holds. A failure to maintain this support could lead to a retracement, but the prevailing trend remains positive.Geopolitical tensions, particularly in the Middle East, continue to bolster silver’s appeal as a safe-haven asset.In summary, with strong technical indicators and supportive macroeconomic factors, MCX Silver presents a favorable trading opportunity. Traders may consider entering positions near ₹107,500, targeting ₹111,900, while placing stop-loss orders below ₹107,000 to manage risk effectively.

MCX Silver Strategy

(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)