Gold & Silver Prices: Trends and Investment Tips
Gold prices have dropped below the ₹96,000 support level, indicating a short-term downward trend. (AI image)
Gold and silver prices are changing. Let’s look at what’s happening and what you should keep an eye on.
Gold Price Trends
Gold prices have fallen below the key ₹96,000 support level. This means we might see a short-term drop. Here’s what you need to know:
- Prices could soon drop to ₹94,500.
- If the trend continues, prices might even hit ₹94,000.
- Several signs show this downward trend:
- Gold is trading below its 10 and 21-period averages.
- The Relative Strength Index (RSI) is below 50.
- The Moving Average Convergence Divergence (MACD) indicates a bearish trend.
But don’t worry, the long-term outlook for gold is still positive. Factors like the Federal Reserve easing rates, global uncertainties, and positive macro trends could push prices up in the future.
How to Invest in Gold
- Current Price: ₹96,000
- First Target: ₹94,500
- Second Target: ₹94,000
- Stop Loss: ₹97,000
Silver Price Trends
Silver prices are near the top of their short-term range, around ₹109,000. This suggests limited growth and a possible drop. Here’s what to expect:
- Prices might drop towards the lower limit of ₹104,000.
- Once silver drops to ₹104,000, the downward trend might be over.
- Technical signs show repeated resistance at ₹109,000, suggesting prices will stay between ₹104,000 and ₹109,000.
Expect silver to move within this range with a slight downward trend. A drop towards ₹104,000 could set the stage for the next upward trend.
How to Invest in Silver
- Current Price: ₹107,800
- Target: ₹104,000
- Stop Loss: ₹109,000
Disclaimer: The views and recommendations 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.
