Gold and Silver: Safe-Haven Momentum Drives to New Highs Amid Global Uncertainty
Gold and silver : continued their powerful upward journey as investors increasingly turned toward precious metals for stability. Ongoing global uncertainty, ranging from geopolitical stress to trade-related disruptions, has kept market sentiment cautious and has reinforced demand for traditional safe-haven assets. On the Multi Commodity Exchange, both metals touched fresh lifetime highs, reflecting not only global cues but also sustained domestic buying interest.
Strong Global Backdrop Supporting Precious Metals
The broader international environment remains fragile, with investors closely monitoring political developments, tariff-related tensions, and macroeconomic signals from major economies. These factors have created uneven movement across equity and currency markets, prompting many participants to rebalance portfolios toward assets considered more resilient during periods of volatility. Gold prices on MCX hovered close to Rs 1.48 lakh per 10 grams, mirroring strength in overseas markets and steady currency dynamics.
Gold Technical Structure and Market Outlook
According to Ponmudi R, CEO of Enrich Money, the domestic gold market is firmly aligned with global trends. He notes that the USD/INR pair holding near the 90.90–91.00 zone has helped maintain price stability. Technically, gold continues to trade within a rising channel, indicating a healthy and sustainable uptrend rather than an overheated rally.
Key Support and Resistance Levels in Gold
From a chart perspective, the Rs 1,43,000 to Rs 1,45,000 range has emerged as a strong dynamic support zone. Every corrective move toward this band has attracted fresh buying, suggesting strong underlying demand. A decisive move above the Rs 1,45,000–1,45,500 region could act as a trigger for the next leg higher, potentially pushing prices toward Rs 1,48,000 and even Rs 1,50,000 per 10 grams in the coming sessions. Market bias, for now, remains decisively bullish.
Silver Rally Gathers Pace
Silver has been equally impressive, if not more aggressive, in its recent performance. Prices held comfortably above Rs 3.15 lakh per kilogram, reflecting both investment inflows and improving industrial demand signals. Unlike gold, silver often exhibits sharper moves during trending phases, and current price action suggests that the metal is firmly in such a phase.
Technical Strength and Buying Zones in Silver
Ponmudi highlights that silver has witnessed a clean breakout on technical charts and is displaying classic high-beta behavior. The rising channel remains steep, underscoring strong momentum. Importantly, the 20-day exponential moving average near Rs 2,95,000 has been acting as a reliable support level. As long as prices remain above Rs 3,10,000, the broader trend is expected to stay strongly positive.
Upside Targets and Short-Term Strategy
On the upside, near-term targets are projected in the Rs 3,20,000 to Rs 3,25,000 range, with scope for an extended move toward Rs 3,35,000 and even Rs 3,50,000 if momentum continues. Any pullbacks toward the Rs 3,05,000–3,08,000 zone are being viewed by traders as potential accumulation opportunities rather than signs of weakness.
Physical Market Sentiment Remains Stable
In the physical market, prices have also firmed across major cities. Gold has been quoted around Rs 1.47 lakh per 10 grams, while silver has stayed well above Rs 3.15 lakh per kilogram. Despite elevated price levels, retailers report that consumer interest has not declined sharply. Instead, buyers appear to be gradually adjusting to the new price regime, particularly for investment and long-term holding purposes.
What Could Drive the Next Move
Market participants believe that the next phase of the rally will largely depend on how global risk sentiment evolves. Any escalation in geopolitical tensions, weakness in global economic data, or renewed stress in financial markets could further boost demand for safe-haven assets. Conversely, a more stable international backdrop may lead to intermittent profit booking after the sharp run-up seen so far.
Overall Trend and Investor Takeaway
For now, the dominant trend remains upward. Both gold and silver continue to attract buyers on every meaningful dip, reinforcing the view that the current rally is supported by strong fundamentals as well as technical momentum. Until there is a clear shift in global risk dynamics, precious metals are likely to remain in focus for investors seeking stability and portfolio protection.