Gold Price Outlook: Key Support and Resistance Levels
In the international market, gold has support at $4,107 per ounce, while resistance is placed at $4,210 per ounce. On the domestic MCX, the immediate support level is ₹1,46,500 per 10 grams. On the upside, ₹1,49,000 and ₹1,50,000 per 10 grams are key resistance levels.
A sustained move above these resistance levels could indicate improving momentum, while failure to hold support may put prices under renewed pressure.
Silver price outlook: Levels to watch
International silver has support at $56 and $54 per ounce. On MCX, ₹2,05,000 per kilogram is the key support level, while ₹2,15,000 per kilogram is the immediate resistance. A sustained move above ₹2,15,000 could support further recovery in domestic silver prices. However, traders will need to watch whether the metal can hold on to its gains.
With the dollar, US bond yields and upcoming economic cues influencing sentiment, gold and silver could remain sensitive to global developments. Buyers and traders will be watching these levels closely before assessing the next move.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.