Gold and silver are trading close to record highs, forcing investors to weigh momentum against the risk of entering at elevated levels. While the broader trend for both metals remains bullish, experts caution that timing has become crucial for near-term portfolio returns.
MCX Gold is hovering near its recent peak of around Rs 1,43,173 and continues to show a strong uptrend marked by higher highs and higher lows. A sustained move above the Rs 1,43,000 zone could push prices further toward Rs 1,45,000–Rs 1,48,000. However, analysts warn against chasing prices at these levels, suggesting that buying on dips remains the safer strategy, with strong support seen in the Rs 1,38,000–Rs 1,40,000 range.
In global markets, COMEX Gold is consolidating near $4,628 after hitting successive lifetime highs. The earlier resistance zone of $4,500–$4,550 has now turned into a solid support base, indicating healthy consolidation rather than weakness. If prices sustain above $4,650, the next leg of the rally could extend toward $4,750–$5,000, supported by central bank purchases, safe-haven demand and expectations of easier global monetary policy.
Silver continues to outperform gold, particularly in the domestic market. MCX Silver is trading near Rs 2,86,000 and remains firmly embedded in a bullish channel. Strength above Rs 2,85,000 keeps the upside bias intact, with potential targets in the Rs 2,90,000–Rs 3,00,000 range. Any correction toward Rs 2,70,000 or lower is expected to attract fresh buying interest, especially around the Rs 2,65,000–Rs 2,48,000 support zone.
Globally, COMEX Silver is trading close to $89.60 and continues to post higher highs. The rally is being driven by strong industrial demand from sectors such as solar energy, electric vehicles, AI and electronics, along with safe-haven flows and tightening supply conditions. A decisive move above $90 could trigger further gains toward $95–$100, though brief consolidation cannot be ruled out.
With both gold and silver near peak levels, experts advise caution for fresh lump-sum investments. While the medium- to long-term outlook remains positive, near-term volatility is possible after the sharp rally. A staggered buy-on-dips approach is seen as more prudent, with gold offering relative stability and hedge value, and silver presenting a higher-risk, higher-reward opportunity.
