Gold and silver prices on the Multi Commodity Exchange (MCX) are showing a bullish bias over the last few sessions, with both metals breaking out of descending triangle formations and signaling a return of the bull run, according to the August 13, 2026 price outlook published by Business Today. Abhilash Koikkara, Head - Forex & Commodities at Nuvama Professional Clients Group, said the base trend has turned firmly positive for gold, and any dip toward support should be treated as a buying opportunity rather than a sign of reversal.
MCX Gold: Breakout Points to Rs 160,000
MCX Gold has initiated a bullish bias following a breakout from consolidation, Koikkara noted, adding that prices have also broken out of a descending triangle formation, which adds further conviction to the bullish case. Gold began the week on a positive mark, breaking above trendline resistance while the weekly trend keeps the door open for further gains.
The crucial support to watch for the week is the 149,000 level, which marks the breakout level from consolidation. According to the outlook, any dip toward this zone should attract buyers and cushion the downside. The immediate resistance is placed at 160,000, and holding above 155,000 on a daily basis would validate the support bounce and signal that buyers are firmly back in the driving seat.
Koikkara described the 149,000 mark as the backbone of the bullish setup; a breach of that level would call the active trend into question. With momentum staying positive and the broader trend intact, gold looks well-positioned to extend its advance from current levels.
MCX Silver: Sideways-to-Positive Bias Above 230,000
Silver has also broken out of the descending triangle formation and resumed its bullish move, now aligning with the base trend and implying a near-term up move, according to the same outlook. Unlike gold's firmly positive trend, silver is expected to trade with a sideways-to-positive bias, though the bullish bias from current levels stays intact.
The 230,000 level provides strong support and should limit any further weakness, being the breakout level and the 30-week EMA. The short-term technical outlook stays positive as long as prices remain above this support. Koikkara said a firm close below 230,000 would change the bias, but dips above that level should draw buyers in and keep the broader uptrend intact.
Silver should target resistance around 251,000, with immediate resistance at 240,000. A move beyond immediate resistance would unlock further upside and keep the bullish momentum in place, with technicals and momentum both backing the move. The critical support to protect remains at 230,000; sustaining above this level should keep the bullish trend intact.
Trading Strategy: Key Levels for Gold and Silver
| Metal | CMP (Rs) | Target (Rs) | Stop Loss (Rs) |
|---|---|---|---|
| MCX Gold | 154,500 | 160,000 | 149,000 |
| MCX Silver | 237,600 | 251,000 | 230,000 |
The trading strategies outlined for August 13, 2026 put MCX Gold at a current market price (CMP) of Rs 154,500, with a target of Rs 160,000 and a stop loss at Rs 149,000. MCX Silver is trading at a CMP of Rs 237,600, targeting Rs 251,000 with a stop loss at Rs 230,000.
For commodity traders and procurement teams tracking precious metals on Indian exchanges, the breakout levels provide clear technical markers: gold's hold above 155,000 on a daily close would validate the bullish continuation, while silver's ability to sustain above 230,000 keeps the broader uptrend protected. The immediate resistance zones at 160,000 for gold and 240,000 for silver represent the next hurdles, and a decisive move beyond those levels would open the path to the stated targets, as per the Nuvama outlook.
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