Gold and silver prices on the Multi Commodity Exchange of India (MCX) are consolidating with a bullish bias, offering potential for further gains in the near term, according to Abhilash Koikkara, Head - Forex & Commodities, Nuvama Professional Clients Group, as reported by Business Today on June 18, 2026.
Gold Price Outlook
MCX Gold is holding a consolidation pattern and defending the previous swing low support, maintaining a sideways to bullish tone, Koikkara said. The base trend remains firmly up, making any near-term dip a potential accumulation opportunity. The key support level is 148,000, which marks the recent week's low and stands as the most critical support on the chart. A pullback to this zone should bring buyers back, but a decisive close below would negate the intermediate bullish move.
Gold's next resistance target is 160,000, and the setup is shaping up well for the upside. Reaching that level would confirm the bounce from support and that buyers have reclaimed control. With positive price action and no signs of exhaustion, the path of least resistance stays higher, according to Koikkara.
"The 148,000 support is the backbone of the current bullish setup; crack that and the narrative shifts fast."
MCX Gold Trading Strategy
| Metric | Value |
|---|---|
| Current Market Price (CMP) | 152,400 |
| Target | 160,000 |
| Stop Loss | 148,000 |
Silver Price Outlook
MCX Silver has recovered from last week's low and is holding a sideways to bullish tone, with the underlying trend remaining positive. Prices are finding support near the weekly moving average, keeping the broader setup intact. The key weekly support is 235,000; losing that level on a closing basis would shift the tone for bulls, but dips ahead of that are likely to be bought.
The next level in silver's upmove is 265,000, with the swing high at 270,000 as an immediate target. A clean close above 270,000 unlocks further upside and keeps bullish momentum going. The critical support to protect remains at 235,000.
MCX Silver Trading Strategy
| Metric | Value |
|---|---|
| Current Market Price (CMP) | 249,000 |
| Target | 270,000 |
| Stop Loss | 235,000 |
Implications for Traders
For import/export professionals and trade policy analysts, these levels provide a benchmark for hedging and investment decisions in precious metals. The bullish outlook on MCX gold and silver suggests continued demand, which may influence trade flows and pricing strategies for related commodities. However, the source material does not provide any direct trade or customs data, so readers should consult additional sources for comprehensive trade analysis.
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