Gold and Silver Price Prediction: Will Gold Hit Rs 1.7 Lakh/10g Soon? See outlook August 27, 2026

gold and silver price prediction today: Gold prices are showing encouraging signs and the short-term trend remains bullish, while the base trend for silver also remains positive, says Abhilash Koikkara, Head of Forex and Commodities, Nuvama Professional Clients Group.

MCX

MCX Gold entered a consolidation phase at the start of the week after testing the May 2026 highs, but the fact that prices continue to hold around those levels is an encouraging sign that keeps the short-term trend firmly in bullish territory. With the base trend remaining firmly positive, it is worth treating any short-term dip towards support as an accumulation opportunity rather than a warning sign of a trend reversal.The 156,000 breakout level of last week’s key formation and support remains the crucial floor to watch heading into the current week. Any decline towards this area should attract new buyers and limit the decline. Gold is targeting 170,000 as the next significant resistance, and the current setup continues to favor bullish bias. A sustained close above 164,500 daily would confirm that buyers have firmly regained control and that the bullish movement is back on track.Gold has started the week on a strong note with a bullish opening, clearing the previous week’s move while the weekly trend continues to keep the door open for further gains. The 156,000 level is the support holding the bullish setup together and a break of that level would put the bullish move into doubt. With positive momentum and overall trend intact, gold appears well positioned to extend its advance from current levels.

MCX Gold Trading Strategy

MCX Silver Price Outlook

Silver is consolidating around monthly highs following the breakout of the descending triangle and a move that looks more like a healthy retest of the breakout level than a reversal. With the base trend remaining positive, it is worth treating the pullback from recent highs towards the breakout level as a potential buying opportunity. Silver’s near-term bias leans more sideways to positive compared to gold’s firmly bullish trend, but the bullish case for current levels remains intact and the broader setup continues to favor upside.Following the recent pullback from the highs, the 239,000 level stands out as strong support and marks the breakout level and should limit any further declines. The short-term technical outlook remains positive as long as prices remain above this minimum level. A firm close below would change the bias, but any dip above that mark should attract buyers and keep the broader uptrend intact.Silver views 249,000 as immediate resistance, with 256,000 as the next significant target beyond that. A move above 249,000 would confirm the bullish bias and keep the momentum firmly alive; both the technicals and momentum point in the right direction. The key support to hold remains 239,000 and staying above that level firmly maintains the uptrend.

MCX Silver Trading Strategy

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