10/05/2026
Is Gold & Silver Preparing for a Major Breakout?
Global markets remained on edge this week as geopolitical tensions once again intensified.
The ongoing uncertainty surrounding the U.S.-Iran conflict and fresh concerns over the Strait of Hormuz have increased safe-haven demand globally. Any disruption in this key shipping route could trigger higher oil prices, inflation concerns, and risk-off sentiment across global markets.
But here’s what caught my attention:
Despite major geopolitical headlines, Gold and Silver have not seen aggressive selling pressure.
This often indicates that institutional participants may be accumulating at lower levels.
MCX Gold Outlook
Gold continues to hold above the critical 1,48,000–1,50,000 support zone.
Repeated buying at lower levels suggests strong institutional demand.
From a technical perspective:
• Price holding near 20 EMA
• 50 EMA acting as immediate support
• 200 EMA trend remains bullish
• RSI improving
• MACD nearing bullish crossover
• Elliott Wave structure still indicates possible Wave (5) expansion
Upside Targets: 1,60,000 → 1,76,000
MCX Silver Outlook
Silver continues to hold above its key support zone of: 2,30,000–2,40,000
The current price structure suggests volatility compression before a potential breakout move.
If Silver sustains above: 2,65,000
Potential targets could be: 2,75,000 → 2,90,000
My Strategy
Gold: Buy on dips near support zones
Silver: Watch breakout above 2,65,000
Risk management remains critical in such volatile conditions.
Final Takeaway
Current weakness appears to be consolidation—not trend reversal.
If geopolitical tensions escalate further and the dollar weakens, precious metals could witness their next major move.
Sometimes charts start speaking before headlines do.
What’s your view on Gold & Silver this week?
Vikash Bagaria
SEBI Registered Research Analyst (INH300008155)
BSE Enlistment No. 5426
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