On the upside, MCX Gold is poised to advance toward the 140,000 level in the upcoming sessions. (AI image)

Gold and silver price prediction: Gold and silver prices are likely to maintain their bullish trend with dips and consolidation phases in between, says Abhilash Koikkara, Head - Forex & Commodities, Nuvama Professional Clients Group. He shares his views on gold and silver:

MCX Gold Outlook

MCX Gold has retreated toward its breakout zone after marking an all-time high of 140,465. With the broader trend still positive, we view this correction as a buying opportunity. As long as prices hold above the breakout support, the overall outlook for MCX Gold remains bullish.From a technical perspective, immediate support is placed around the 132,000 level, which marks the breakout from the prior swing high.

Any retracement toward this area is expected to attract fresh buying interest, thereby capping near-term downside. Holding this support level keeps the bullish structure intact.On the upside, MCX Gold is poised to advance toward the 140,000 level in the upcoming sessions. This projected target is well aligned with the broader bullish trend and reflects the underlying strength of established market momentum.

Furthermore, a decisive and sustained breakout above intermediate resistance level could attract additional buying interest, thereby reinforce the positive sentiment and extend the upward move further.Overall, MCX Gold is expected to maintain its positive bias unless there is a clear and decisive break below the 132,000 support level. The broader technical structure remains constructive and continues to favour trend continuation.

Provided that momentum indicators and overall market sentiment continue to remain supportive, the precious metal is expected to experience further upside potential in the coming sessions.

MCX Gold Trading Strategy

• CMP: 135600
• Target: 140000
• Stop Loss: 132000

MCX Silver Outlook

MCX Silver has recorded an all-time high, followed by a subsequent correction from those levels. Despite this pullback, prices continue to trade with a positive bias, and we expect consolidation around the recent highs. Such consolidation phases generally signal a temporary balance between buyers and sellers, and a breakout from the current formation may trigger an accelerated price move as momentum builds and the prevailing trend resumes.From a technical standpoint, a rebound from the support level signals renewed strength in the trend and raises the probability of further upside. As long as prices hold above the weekly support levels, the bullish bias is likely to remain intact. The immediate key support is identified near the 221,000 level, which now acts as a strong base. Any retracement toward this zone may attract fresh buying interest, helping to stabilize and sustain prices.On the upside, MCX Silver could potentially advance toward the 260,000 level in the near to medium term. This target reflects an extension of the previous bullish move and aligns with the prevailing market momentum. Overall, as long as prices remain above the 221,000 support, MCX Silver is expected to sustain its positive trajectory, with additional upside possible as bullish sentiment continues to gain strength.