Gold Silver Weekly Forecast: Gold and silver markets remain under pressure as renewed selling activity, profit booking, and shifting global risk sentiment continue to weigh on prices across both international and domestic exchanges. Recent failures to sustain above key resistance zones have weakened near-term momentum, pushing precious metals into a corrective phase. While safe-haven demand and ongoing geopolitical uncertainties may provide support at lower levels, the broader market tone remains cautious as traders closely monitor critical support and resistance levels. The focus now shifts to whether gold and silver can stabilize above major support zones or face further downside pressure in the sessions ahead.
Enrich Money Gold Silver Outlook
COMEX Gold: COMEX Gold is trading near the 4,350 dollar support zone, witnessing renewed selling pressure after failing to sustain above the 4,500–4,550 dollar region. Weekly price action reflects a weak undertone, with momentum deteriorating as prices continue to trade below key supply zones and the recent breakdown reinforcing bearish sentiment.
Immediate resistance is placed around 4,460–4,500 dollar, where previous support has now turned into a significant resistance zone. This is followed by a stronger supply barrier near 4,560–4,600 dollar.
On the downside, 4,350 dollar remains a crucial support level. A decisive break below this zone could accelerate corrective pressure toward 4,250 dollar, with the possibility of an extended decline toward the 4,100 dollar region, reinforcing the prevailing bearish structure. Overall, the broader structure has turned weaker following the breakdown from the recent consolidation range, while near-term momentum remains firmly under pressure. The technical setup continues to favour a cautious stance unless prices reclaim key resistance zones and establish sustained buying strength.
COMEX Silver: COMEX Silver is trading near the 68 support zone dollar after failing to sustain above the 75–76 dollar resistance region, triggering fresh selling pressure and a decisive breakdown from its recent consolidation range. Weekly price action reflects a weak undertone, with momentum deteriorating sharply as prices slip below key support levels, signalling a shift in the broader market structure toward a bearish bias.
Immediate resistance is placed at 72–73 dollar, followed by a stronger hurdle near 75–76 dollar. A sustained recovery above these levels would be required to stabilise sentiment and improve momentum.
On the downside, 68–67 dollar remains a key support zone, with a break below this region potentially extending weakness toward the 64 dollar level. Overall, the broader structure has weakened considerably following the breakdown below key support levels, while near-term momentum remains firmly under bearish control. The technical setup continues to favour caution, with recovery prospects likely to improve only if prices reclaim and sustain above critical resistance zones.
MCX Gold: MCX Gold witnessed significant volatility this week, rallying sharply toward the Rs 1,61,000 zone before encountering profit booking at higher levels. Prices have since retreated toward the Rs 1,55,000–Rs 1,56,000 region, indicating some cooling off after the recent surge.
On the upside, a sustained move above Rs 1,58,000–Rs 1,58,500 could revive bullish momentum and open the door for a move toward the Rs 1,60,000–Rs 1,61,000 zone.
On the downside, a decisive break below Rs 1,55,000 could trigger further corrective pressure toward Rs 1,53,500 and further toward Rs 1,52,000.
Overall, the broader trend retains a cautious undertone amid evolving global risk sentiment, US Dollar movements, and geopolitical developments. However, prices need to reclaim and sustain above key resistance levels to strengthen the bullish structure and improve momentum further.
MCX Silver: MCX Silver is trading near the Rs 2,48,000 support level after failing to sustain above the Rs 2,68,000–Rs 2,70,000 resistance zone. The inability to hold above the key Rs 2,60,000 support level has weakened the near-term structure and shifted sentiment toward a more cautious stance.
On the upside, immediate resistance is placed at Rs 2,58,000–Rs 2,62,000. A sustained move above this zone could help stabilize prices and trigger a recovery toward the Rs 2,70,000–Rs 2,74,000 range.
On the downside, a break below Rs 2,47,500 could accelerate corrective pressure toward the Rs 2,43,000–Rs 2,40,000 zone, with the potential for further weakness toward Rs 2,33,000–Rs 2,30,000 if selling pressure intensifies.
Overall, the broader trend reflects a cautious to negative undertone, as prices have broken below key support levels established earlier in the week. While safe-haven demand and industrial metal fundamentals may provide support at lower levels, momentum remains weak. A sustained recovery above the Rs 2,60,000–Rs 2,62,000 resistance zone is required to improve sentiment and stabilize the structure, while geopolitical developments and global risk appetite are likely to remain the key drivers of price action.
FAQ’s
1. Why are gold and silver prices facing pressure this week?
Gold and silver prices are experiencing renewed selling pressure due to profit booking at higher levels, a stronger US dollar, changing global risk sentiment, and uncertainty surrounding geopolitical developments. These factors have weakened short-term momentum and pushed precious metals into a corrective phase.
2. What are the key levels to watch for COMEX Gold?
COMEX Gold is currently trading near the crucial 4,350 US dollar support zone. If prices break below this level, the market could see a decline toward 4,250 US dollars and potentially 4,100 US dollars. On the upside, resistance is located between 4,460 and 4,500 US dollars, followed by a stronger barrier near 4,560–4,600 US dollars.
3. What is the outlook for MCX Gold in the near term?
MCX Gold remains volatile after retreating from the 1,61,000 rupees zone. A sustained move above 1,58,000–1,58,500 rupees could revive bullish momentum and target 1,60,000–1,61,000 rupees. However, a break below 1,55,000 rupees may trigger further weakness toward 1,53,500 rupees and 1,52,000 rupees.
4. What support and resistance levels are important for silver traders?
For COMEX Silver, immediate support is seen at 68–67 US dollars, while resistance is located at 72–73 US dollars and 75–76 US dollars. In the domestic market, MCX Silver has support near 2,48,000 rupees and resistance around 2,58,000–2,62,000 rupees. These levels will likely determine the next major price move.
5. What factors could influence gold and silver prices in the coming days?
Market participants will closely monitor US dollar movements, inflation expectations, central bank policies, global economic data, and geopolitical developments. Safe-haven demand could support prices during periods of uncertainty, while improving risk appetite and stronger currencies may continue to weigh on precious metals in the short term.
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