Commodity market experts believe ₹1,45,500 remains a crucial resistance level for MCX gold, and the overall strategy continues to favour selling on price rallies as long as the metal trades below this mark.
According to Jateen Singh, traders should adopt a “sell-on-rise” approach until gold manages to break and sustain above ₹1,45,500, which is currently acting as a strong resistance zone.
Meanwhile, Manoj Kumar Jain, Director at Prithvifinmart Commodity Research, said international gold has immediate support at $4,022 and $3,989 per troy ounce, while resistance is seen at $4,084 and $4,110 per troy ounce.
For silver, Jain expects support at $56 and $54.40 per troy ounce, whereas resistance is placed at $58.80 and $60 per troy ounce during today’s trading session.
MCX Gold and Silver Levels Today
Jain highlighted the following technical levels for domestic bullion prices:
MCX Gold
- Support: ₹1,41,000 and ₹1,40,250
- Resistance: ₹1,42,650 and ₹1,43,300
MCX Silver
- Support: ₹2,17,700 and ₹2,14,000
- Resistance: ₹2,24,000 and ₹2,26,600
Silver Trading Strategy
Jain recommends accumulating MCX silver in the ₹2,20,000–₹2,17,000 range. Traders can maintain a stop-loss below ₹2,14,000, while aiming for upside targets of ₹2,24,000 and ₹2,26,000 if the bullish momentum continues.