Gold, silver price prediction: Is gold, silver price rise sustainable? Check outlook on August 6, 2026

Gold and silver price prediction today: Gold prices are showing some bullish bias while silver prices are also seeing some recovery, says Abhilash Koikkara, Head – Forex & Commodities, Nuvama Professional Clients Group.

MCX Gold Price Outlook

MCX Gold has breached from its consolidation and is heading toward the recent swing highs, pointing to an intermediate bullish move underway. With the base trend firmly positive, any dip toward support is worth treating as a buying opportunity rather than a sign of trend reversal. A move below the recent lows, however, would put the current positive trend under pressure.The 142,500 level aligning with the recent swing low is the crucial support to watch for the week. The mentioned level should act as a support & could bring buyers back in and cushion the downside.Gold is targeting 148,000 and 152,000 as the immediate resistance levels, with the current setup continuing to favour the bullish bias in the sessions ahead. A move toward those levels would confirm that the bounce from support had real conviction and that buyers have firmly reclaimed control.Gold has opened the week on a positive note, recovering from consolidation support while the weekly trend keeps the door open for further gains. The 142,500 mark serves as the backbone of the bullish setup, a breach of that level would call off the active trend. With momentum staying constructive and the broader trend intact, gold appears well-positioned to extend its advance from current levels.

MCX Gold Trading Strategy

MCX Silver Price Outlook

Silver has stepped out of its consolidation and is now aligning with the base trend, a near-term recovery looks well on the cards. Much like gold’s positive trend, silver is expected to hold its positive bias and push higher from current levels.The 220,000 level provides strong support and should limit any further weakness. The short-term technical outlook stays positive as long as prices remain above this support. A firm close below it would change the bias but dips above that level should draw buyers in and keep the broader uptrend intact.230,000 is the immediate resistance to clear, with the swing high at 238,000 as the more meaningful target for the week. A clean close above 230,000 would unlock further upside and keep the bullish momentum in place, technicals and momentum are both backing the move. The critical support to protect remains at 220,000, sustaining above the mentioned level should keep the bullish trend in place.

MCX Silver Trading Strategy

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