Gold & silver price prediction today: What’s the gold rate outlook for May 29, 2025 – should you buy or sell?
Gold and silver price prediction: MCX Gold and MCX Silver have shown considerable fluctuations recently, influenced by global political events and the impact of Donald Trump’s decisions regarding tariffs on market confidence. Despite gold’s conventional status as a secure investment option, gold rate has declined from recent highs over the past few trading sessions. Abhilash Koikkara, Head – Forex & Commodities, Nuvama Professional Clients Group shares his views:MCX GOLD OutlookGold prices have resumed their primary upward trend after a brief consolidation phase within the 96,000–94,500 range. This consolidation acted as a healthy pause, allowing the market to absorb previous gains before continuing its bullish momentum. The breakout from this range signals renewed buying interest and reinforces the underlying positive sentiment in the precious metals market.Currently, prices are showing strong upward momentum and are poised to test the 98,000 level in the near term. This move is supported by favorable macroeconomic conditions, including ongoing geopolitical tensions, a weak currency, and persistent inflationary concerns, all of which typically enhance gold’s appeal as a safe-haven asset. Additionally, the technical setup also suggests continued strength, with price action forming higher highs and higher lows, indicating sustained buying pressure.The overall bias remains positive as long as gold sustains above the key support level of 94,500. Any dips toward this zone may attract fresh buying interest from investors and traders looking to capitalize on the broader bullish trend. In summary, with momentum building and fundamentals supporting the move, gold prices are likely to maintain their upward trajectory, with 98,000 emerging as the next potential resistance zone.MCX GOLD StrategyCMP: 95600TARGET: 98000STOP LOSS: 94350MCX SILVER OutlookMCX Silver prices continue to exhibit strong bullish momentum, maintaining their upward trajectory with a series of higher highs and higher lows. This consistent price action reflects strong investor confidence and sustained buying interest, suggesting that the current rally has more room to run. The overall market sentiment remains positive, supported by both technical and fundamental factors.Silver prices have broken past key resistance levels in recent sessions, reinforcing the bullish trend. With this momentum, prices are expected to move towards the next significant level at 1,01,800. This target is well within reach if the current momentum persists, backed by robust demand from industrial and investment sectors. Moreover, ongoing macroeconomic uncertainties, including inflationary pressures and currency volatility, continue to drive safe-haven buying in precious metals, especially silver.Technically, the structure of higher highs and higher lows is a clear indication of an ongoing uptrend. As long as this formation remains intact, we will maintain a bullish outlook. Any short-term corrections or pullbacks are likely to be viewed as buying opportunities, rather than a change in trend. In conclusion, the outlook for MCX Silver remains firmly positive, with the 1,01,800 level as the next potential target in the current upward move.MCX SILVER StrategyCMP: 98000TARGET: 101800STOP LOSS: 95800(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)
