Mumbai: Gold and silver prices on the Multi Commodity Exchange (MCX) are expected to remain volatile in the near term as investors continue to monitor global developments, including geopolitical tensions in the Middle East, crude oil movements and the US Federal Reserve’s policy outlook.

Market analysts said MCX Gold ended the week on a negative note but managed to hold near the key psychological support level of ₹140,000. A decisive fall below this level could increase selling pressure and push prices towards the ₹139,300–₹138,700 support zone.

Gold faces key support and resistance levels

Analysts said gold needs to sustain above the ₹140,000 mark to avoid further weakness. On the upside, immediate resistance is seen between ₹140,700 and ₹141,000, followed by the ₹142,000–₹142,700 zone.

A sustained movement above these resistance levels could improve recovery prospects and strengthen market sentiment.

Silver outlook remains weak

MCX Silver also ended the week with a cautious negative trend and continues to trade below important resistance levels.

Analysts expect immediate resistance for silver in the ₹217,000–₹218,000 range, followed by ₹220,000–₹221,000.

On the downside, the ₹215,000–₹214,000 support zone remains crucial. A break below this level could drag prices further towards ₹211,000–₹210,000.

Experts said the broader trend for silver remains weak, with a sustained rise above key resistance levels needed to indicate a meaningful recovery.

Global gold and silver markets under pressure

In international markets, COMEX Gold also ended the week with a negative bias while attempting to hold above the important $4,000 support level.

Analysts warned that a break below this level could trigger further selling towards the $3,920–$3,900 range, while recovery above $4,050–$4,070 could push prices towards $4,120–$4,150.

Meanwhile, COMEX Silver remained under pressure, with prices trying to sustain above the $55–$54.50 support zone. A decline below this range may lead to further weakness towards $53, while a move above $56.50–$57 could improve sentiment and support a rise towards $59.