![MCX Gold to Trade Sideways: Support at Rs 50300 [29-Aug-2022]](https://www.goldsilverreports.com/wp-content/uploads/2021/03/jewellers-shop-14032021.webp)
MCX Gold Price Forecast: Commodity prices traded mixed with bullion prices declined for the week witnessing selling in the second half of the week. Base metals ended in green on tight supplies and China stimulus hopes. Crude oil prices traded higher gaining on lower supplies and expectation of OPEC output cut.
Silver Prices Forecast
![Gold Silver Tips Today [23-01-2025]](https://www.goldsilverreports.com/wp-content/uploads/2022/02/mcx-gold-silver-15022022.webp)
Gold Price Support at Rs 50900, Silver Remains Strong – Neal Bhai
Commodity prices traded mixed with bullion prices continued to soar on geopolitical risk and inflation worries while crude oil prices declined on eased supply worries.
Silver Finds Calmer Tone After Posting Biggest Drop Since August
Silver gained after the biggest loss since August, with markets calming following the buying frenzy that sent prices to an eight-year high earlier this week.
In Silver, Redditors Find a Fit for Raging Against Establishment
It seems a match made in heaven: Reddit’s rambunctious army of retail investors eager to take on the financial elites, and the world of silver “bugs,” hard-core metal bulls, many of whom have long argued the price was being suppressed by powerful forces.
Silver Eyes Deeper Correction Amid Descending Triangle Breakdown
Silver price extends its corrective downside below the $28 mark, having clocked eight-year highs at $30.06, in light of the retail-trade frenzy spurred by Reddit.
XAG/USD Analysis: Silver Prices Continue to Struggle
Silver prices continue to struggle so far this week despite a lackluster US Dollar. Since the monthly high on November 9, XAG/USD is down nearly 5%. Meanwhile, the US Dollar (DXY) gained only 0.25%. Generally precious metals, like gold and silver, tend to perform well during periods of USD weakness.
Silver Spot Support Zone $28 — $ 27.48 – Neal Bhai Reports
Silver Spot Support Zone $28 — $ 27.48, Target Price $29 — 29.80, September silver futures prices on MCX rose 0.4% to ₹69,135 per kg. In the previous session gold had surged ₹500 per 10 gram while silver had gained about ₹1,000 per kg. Gold prices in India had hit a record high of ₹56,200 on August 7 and since then prices have been volatile in tandem with movement in global rates.