Gold Silver Weekly Forecast: Gold and silver markets are currently navigating a phase of heightened volatility, as prices struggle to sustain higher levels amid renewed selling pressure and sharp profit booking at elevated levels. The central theme dominating the precious metals space is one of near-term consolidation with a cautious undertone, with both international and domestic markets attempting to stabilize above crucial support zones following recent rejections from their multi-month highs. While the broader, long-term price structure remains fundamentally constructive, near-term momentum appears subdued with key resistance levels capping upside moves.
Enrich Money Gold Silver Outlook
COMEX Gold: COMEX gold is trading near the 4,500–4,550 dollar range, after witnessing renewed selling pressure, with prices currently trading below the short-term moving averages. The 4,500–4,450 dollar zone remains a key support area; a breakdown below this could drag prices toward 4,350–4,300 dollar.
On the upside, immediate resistance is seen at 4,640–4,680 dollar, followed by 4,750–4,800 dollar. A sustained move above these levels is required to improve momentum toward the 4,900–5,000 dollar zone. Overall, the broader trend remains cautious, while the near-term structure continues to reflect corrective weakness.
COMEX Silver: COMEX Silver is trading near the 77–78 dollar zone after witnessing sharp profit booking from recent highs near the 90 dollar region. The 75 dollar level is acting as immediate support, and a decisive break below this region could extend the correction toward 73 dollar, followed by the 71–69 dollar zone.
On the upside, immediate resistance is placed around the 80–82 dollar zone, followed by a stronger hurdle near 87–90 dollar. Overall, the broader trend remains cautious, while the near-term structure continues to reflect corrective weakness following the recent sharp rally.
MCX Gold: MCX gold futures are trading near the 1,58,000–1,59,000 rupees zone after witnessing renewed selling pressure from higher levels. Immediate support is placed at 1,55,000–1,54,000 rupees; a break below it may extend the correction toward 1,52,000–1,50,000 rupees.
On the upside, immediate resistance is seen near 1,60,000–1,61,000 rupees, followed by 1,63,000–1,64,000 rupees. A sustained move above these levels could strengthen bullish momentum toward fresh highs. Overall, the broader trend remains constructive, while the near-term structure reflects a consolidation phase with a cautious undertone.
MCX Silver: MCX silver futures are trading near the 2,70,000–2,72,000 rupees zone after witnessing sharp profit booking from recent highs near 3,05,000 rupees. The 2,65,000–2,60,000 rupees acts as immediate support, with stronger support placed near 2,50,000 rupees.
On the upside, immediate resistance is seen near 2,80,000–2,84,000 rupees, followed by 2,90,000–2,95,000 rupees. A sustained breakout above these levels could push prices toward the 3,00,000–3,05,000 rupees region. Overall, the broader trend remains constructive, though near-term momentum continues to reflect corrective weakness.
JM Financial Gold Silver Outlook
Gold: According to JM Financial, gold prices rallied sharply mid-week following the custom duty hikes, but overall prices moved in a consolidating range with a sharp fall on Friday. The broader outlook looks sideways; as long as momentum holds, immediate support is placed at Rs 1,53,500 and Rs 1,48,700, while on the upside, major resistance holds at Rs 1,64,500.
Silver: According to JM Financial, silver futures continued their positive momentum despite paring most of their gains in a sharp sell-off during the last couple of trading sessions. The momentum remains positive as long as prices stay above the trailing supports of Rs 2,60,500 and Rs 2,41,000. While Target 1 at Rs 2,97,500 has been achieved (high so far Rs 3,04,891), investors can hold at corrective dips for next short-term targets of Rs 2,97,500 and Rs 3,40,000.
FAQ’s
1. What is the overall outlook for gold and silver markets during May 18–24, 2026?
The overall outlook for gold and silver remains cautiously positive but highly volatile. Analysts believe both precious metals are currently undergoing a consolidation phase after recent sharp rallies and profit booking at higher levels. While the long-term structure remains constructive, near-term momentum is subdued unless prices manage to break above key resistance zones.
2. What are the important support and resistance levels for COMEX Gold this week?
COMEX Gold is trading near the 4,500–4,550 dollar range, with immediate support placed around 4,500–4,450 dollars. A breakdown below this zone may trigger further weakness toward 4,350–4,300 dollars. On the upside, resistance is seen near 4,640–4,680 dollars, followed by 4,750–4,800 dollars. A sustained breakout above these levels could revive bullish momentum.
3. Why are silver prices witnessing sharp volatility and profit booking?
Silver prices have experienced sharp volatility due to aggressive profit booking after a strong rally toward recent highs. COMEX Silver corrected from near the 90 dollar level, while MCX Silver also declined from record highs near Rs 3,05,000. Analysts believe traders are locking in profits amid uncertain global cues, though the broader trend remains positive above major support zones.
4. What are the key levels investors should monitor in MCX Gold and MCX Silver futures?
For MCX Gold, immediate support is placed near Rs 1,55,000–1,54,000, while resistance is seen around Rs 1,60,000–1,64,000. In MCX Silver, support is placed near Rs 2,65,000–2,60,000, with stronger support at Rs 2,50,000. Resistance for silver is expected near Rs 2,80,000–2,95,000, which will be crucial for determining the next directional move.
5. What investment strategy has JM Financial recommended for gold and silver traders?
According to JM Financial, gold prices are expected to remain range-bound with a sideways bias unless stronger momentum emerges above key resistance levels. For silver, the brokerage remains relatively optimistic and suggests investors may consider holding positions during corrective dips as long as prices stay above critical support levels. JM Financial has projected higher medium-term targets for silver, including Rs 3,40,000.
Gold Price Today Digital Media Network
Facebook Page (129K Followers)- https://www.facebook.com/Goldsilverpricetoday
Facebook group of (80K Jewellers Member – Sunar Jewellers Ekta – https://www.facebook.com/groups/goldsilverpricenews
Website (100000 Users)- https://goldpricetoday.co.in/
Instagram (51K Followers)- https://www.instagram.com/goldpricetodaynews/
X- https://twitter.com/today_gold
Telegram Group (2000 Members)- https://telegram.me/goldsilverprice
Magazine (20000 Digital Subscribers): Gold Silver News For Magazine Subscription Contact +919111435279
Whatsapp News(25000 Members): +918448469588
