Gold and Silver Prices Under Pressure as Bearish Bias Takes Hold

Nuvama Professional Clients Group's Head - Forex & Commodities, Abhilash Koikkara, says that gold and silver prices are under pressure.

The MCX Gold price outlook is bearish, with a weekly price structure continuing to drift lower. Sellers remain in control, and the market is likely to stay directionless until the ongoing consolidation is breached.

Prices are expected to stay within a range in the near term, but if they break below 148,000, the decline could extend towards the 144,000-140,000 zone.

The MCX Silver price outlook is also weak, with momentum indicators aligned to the downside and a negative short-term bias. The current consolidation phase has kept prices rangebound without offering a clear directional signal.