1. Price Summary for the Week

Gold (MCX Futures)

Gold prices were quite unstable this week, going up on some days and falling sharply on others.
Here’s how prices moved day by day:

Overall from Monday to Thursday: Gold dropped ₹784

Market Mood: Slightly negative, but trying to recover

Silver (MCX Futures)

Silver showed strong performance, especially in the second half of the week.

Overall from Monday to Thursday: Silver gained ₹1,911

Market Mood: Strongly positive

2. Technical Analysis

Gold Technical View

• This week, gold was very volatile. After a good start on Monday, it fell heavily on Tuesday and Wednesday.

• Thursday showed a small recovery.

• The price seems to be moving sideways inside a consolidation pattern – which usually signals that a big move is coming soon.

Key Price Levels to Watch:

• Support (price may bounce back from here): o ₹94,500 (strong weekly low)

o  ₹93,800 (if it falls more)

• Resistance (price may face difficulty going above): o ₹97,800 (Tuesday high)

o  ₹98,750 (major hurdle for bulls)

Silver Technical View

• Silver was more stable and showed a strong upward trend.

• The biggest move came on Wednesday, where silver jumped over ₹2,000 in one day.

• A bullish breakout pattern is visible on the chart, showing that the price may go even higher.

Key Price Levels to Watch:

• Support:
  • ₹96,500 – breakout level, very important
  • ₹95,000 – psychological support

• Resistance:
  • ₹98,000 – next short-term hurdle
  • ₹99,200 – key level for further upside

3.Fundamental Factors Affecting Prices

Gold Fundamentals

• Why gold is in demand globally:
  • Inflation is still high in the US and Europe, so investors prefer gold for safety.
  • Central banks (like in China and Russia) are buying more gold.
  • Global stock markets are unstable, which pushes people towards gold.

• In India:
  • The weak Indian Rupee makes gold costlier, which helps prices rise.
• The wedding season and Akshaya Tritiya (April 29) are boosting local demand.

Silver Fundamentals

• Why silver is rising:

• Silver is used in electronics, solar panels, and electric vehicles – and demand from these industries is growing.

• The gold-silver ratio is narrowing, meaning silver is catching up to gold after being undervalued.

Silver Fundamentals

• Why silver is rising:

• Silver is used in electronics, solar panels, and electric vehicles – and demand from these industries is growing.

• The gold-silver ratio is narrowing, meaning silver is catching up to gold after being undervalued.

4. What to Expect Next Week (April 29 – May 3, 2025)

Gold Outlook

• If gold stays above ₹96,000 and finishes strong on Friday, it may go up to ₹97,800 or ₹98,000 next week.

• However, if it falls below ₹94,500, it could drop more.

What to Watch:

• US interest rate news and inflation data

• Indian buying activity during Akshaya Tritiya

Expected Price Range: ₹94,500 – ₹98,000

Trend: Neutral to Slightly Positive

Silver Outlook

Silver has good support and strong buying interest. If prices hold above ₹97,500, we may see a move to ₹98,500 or even ₹99,200.

What to Watch:

• Global industrial data

US GDP and inflation updates

Expected Price Range: ₹96,500 – ₹99,500

Trend: Bullish

Conclusion & Strategy

Investor Tip:

• Silver: Good for short-term buying on small dips.

• Gold: Wait for clear movement above ₹97,800 or below ₹94,500 to take fresh trades.

Until then, Happy Trading!

Commodity Samachar Securities
We Decode the Language of the Markets

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