Gold, silver outlook: Bullish trend intact despite profit booking, say experts

Gold and silver prices continue to draw attention as market analysts maintain that the positive trajectory for precious metals persists despite recent sell-offs.

While gold holds steady near critical resistance levels, silver has moderated somewhat after reaching unprecedented highs. Observers anticipate fresh directional cues from global market trends, interest rate developments, and safe-haven demand in upcoming sessions.

Analysts note that gold prices are currently stabilizing below a significant resistance zone, reinforcing the broader upward trend. The metal continues to trade within an ascending channel pattern, with price dips consistently attracting investor interest.

Substantial support for gold appears established between Rs 1,31,000 and Rs 1,32,000. A decisive breakthrough above the Rs 1,35,000 mark could potentially propel prices toward Rs 1,37,000-1,40,000 in subsequent sessions, bolstered by rupee depreciation and steady demand for safe assets.

Silver has retreated following its record-breaking surge beyond Rs 2,00,000 per kilogram earlier. Market specialists view this decline as a natural correction after rapid gains rather than a trend reversal.

The overall upward pattern for silver remains valid provided prices sustain above crucial support thresholds. Technical analysts identify strong support between Rs 1,80,000-1,81,000, with additional buffer levels below this range.

Near-term resistance is expected between Rs 1,95,000-2,00,000 per kilogram. A firm breakout above this barrier could drive prices toward new peaks, while sustained trading below Rs 1,90,000 may trigger extended profit-taking.

Industry experts emphasize silver’s bullish long-term prospects, supported by robust industrial consumption—particularly from solar energy infrastructure, electric vehicle manufacturing, and advanced technologies—combined with constrained global supplies. Market strategists suggest price corrections may present strategic entry points for extended investment horizons.

During recent trading activity, silver futures achieved an unprecedented high near Rs 1,98,814 per kilogram before settling with over 5% daily gains. Concurrently, gold February futures concluded near Rs 1,32,469 per 10 grams, registering approximately 2% growth.

(With inputs from IANS)