*MCX Gold & Silver Crash: Is This the Best Buying Opportunity?*
MCX gold and silver prices remained under heavy pressure for the second consecutive session, with both metals opening gap down again during today’s morning European trading hours.
MCX Gold June Futures traded near ₹158851 per 10 grams
MCX Silver July Futures slipped to around ₹272267 per kg
Silver prices even hit the lower circuit again today. Gold declined more than 2%, while silver witnessed a sharp fall of over 6%, reflecting extreme volatility in bullion markets.
*Why Are Gold & Silver Falling?*
The weakness in precious metals followed market reactions to developments involving US President Donald Trump and Chinese President Xi Jinping. Investor sentiment remained cautious after Trump claimed that Xi had agreed to support Iran if required, while Xi warned that Taiwan related tensions could further increase geopolitical risks.
At the same time, stronger than expected US economic data boosted expectations that the Federal Reserve may maintain higher interest rates for a longer period, putting additional pressure on non yielding assets like gold and silver.
*Intraday Strategy for MCX Gold & Silver*
According to my view, the sharp correction may attract strong profit booking in sell positions, and a rebound in bullion prices is possible from current levels.
Buy Gold June Futures
Buy Range: ₹158800 - ₹158900
Targets: ₹161000 - ₹161500 - ₹162000
Stop Loss: As per risk management
Buy Silver July Futures
Buy Range: ₹272000 - ₹272300
Targets: ₹284000 - ₹285000 - ₹286000
Stop Loss: As per risk management
*Conclusion*
Heavy volatility and sharp declines have created an opportunity for aggressive traders to look for rebound trades in gold and silver. A strong recovery move and profit booking in short positions could support bullion prices before market closing.
*Traders should stay alert for a potential sharp bounce from lower levels.*
*Precious Metals Crash Continues – Time to Buy the Dip?*
Precious metals like gold and silver have remained under strong selling pressure for the last two sessions. During today’s morning European session, markets turned highly volatile following fresh developments related to the US and China.
Gold Spot XAUUSD and Gold June Futures continued their decline and traded near $4532.15 and $4535.97 levels respectively.
Meanwhile, the US Dollar Index June Futures climbed near the $99.210 mark. As gold and the dollar generally move in opposite directions, the recent strength in the dollar added pressure on bullion prices. However, if the dollar index starts weakening from current levels, profit booking in short positions could trigger a recovery in gold and silver.
*Why Are Gold Prices Falling?*
The weakness in precious metals came after market reactions to comments involving US President Donald Trump and Chinese President Xi Jinping.
Investor sentiment remained cautious after Trump suggested that China may support Iran if required, while Xi warned that Taiwan-related tensions could increase geopolitical instability further. At the same time, stronger than expected US economic data strengthened expectations that the Federal Reserve may keep interest rates higher for a longer period. This negatively impacts non-yielding assets like gold and silver.
*Intraday Strategy for Gold Spot XAUUSD & Gold June Futures*
According to my view, the sharp correction may lead to strong profit booking in the coming hours, creating a possible rebound opportunity in precious metals.
Buy Gold Spot XAUUSD
Buy Range: $4530 - $4535
Targets: $4620 $4640 $4670
Stop Loss: As per risk management
Buy Gold June Futures
Buy Range: $4532 - $4537
Targets: $4620 $4640 $4670
Stop Loss: As per risk management
*Conclusion*
Gold and silver prices remain extremely volatile, but after the recent sharp correction, strong profit booking in sell positions may support a recovery rally. Traders may look for buying opportunities at lower levels and stay alert for a possible sharp upside move in the next few hours.
*Don’t miss the potential rebound opportunity in precious metals.*
MCX Gold and Silver prices huge volatile today.... Those traders who still hold buy positions in Gold and Silver, wait TGT 161k and 284k before closing.... If possible, make avg 158050-158150 and 268300-268700 range, and exit New High TGT before closing..... Trade and Buy Maxxxx SL OPEN Operator start works....in next few hours....
Those traders who hold last fridays buy call, make avg and exit 159000 and 272000 in next few hours....
Trade and buy max....
Intraday strategy for Gold and Silver....
Buy Gold and Silver 157650-157750 range and 267000-267500 range
SL OPEN
and wait TGT1 159000 and 272000
and wait TGT2 160000 and 274000
and wait TGT3 161000 and 276000......wait above TGT1 in next few hours.....
*Gold Near 2 Months Low: Big Rebound Opportunity Ahead?*
Precious metals like gold and silver continued to trade under pressure on Thursday ahead of the US market opening. Markets remained highly volatile as traders focused on upcoming US inflation data and ongoing Middle East tensions.
Gold prices slipped toward a two-month low after renewed military strikes between the US and Iran pushed crude oil prices higher, increasing concerns about energy driven inflation.
*Before the US session opened:*
Gold Spot XAUUSD traded near 4375 - 4380 per ounce
Gold August Futures traded around 4405 - 4410
*Why Could Gold Recover?*
According to my view, strong profit booking in sell positions may support a sharp rebound in gold and silver prices later today.
Additional support for bullion came from:
1. Rising geopolitical tensions between the US and Iran
2. Higher crude oil prices due to disruptions near the Strait of Hormuz
3. Inflation concerns increasing safe-haven demand
4. Continued central bank buying support
Federal Reserve Governor Lisa Cook also indicated that while current interest rates may remain unchanged for now, future hikes remain possible if inflation pressures continue. Despite pressure from higher interest rate expectations, gold continues attracting support from investors seeking safety amid global uncertainty.
*Intraday Strategy for Gold Spot XAUUSD & Gold August Futures*
Buy Gold Spot XAUUSD
Buy Range: $4375 - $4380
Targets: $4475 $4500 $4525
Stop Loss: As per risk management
Buy Gold August Futures
Buy Range: $4405 - $4410
Targets: $4510 $4540 $4570
Stop Loss: As per risk management
*Conclusion:*
Gold and silver prices are extremely volatile at current levels, but after the recent sharp decline, strong profit booking in sell positions could trigger a major recovery move before or after the US market opens.
1. Traders are watching for a possible 150+ dollar movement from current levels.
2. Buy side momentum may return quickly if safe haven demand increases again.
*Gold & Silver Under Pressure, But Recovery Signs Emerging*
Precious metals such as gold and silver remained highly volatile today, with both markets opening gap down. Prices came under pressure during the early US session as investors reacted to rising crude oil prices following renewed hostilities between the United States and Iran.
Hopes for a lasting resolution between the two nations have weakened, as fresh military exchanges over the weekend once again highlighted ongoing geopolitical uncertainty.
*During the afternoon session:*
MCX Gold August Futures traded near ₹158630 per 10 grams
MCX Silver July Futures traded around ₹263800 per kg
Gold and silver continue to face pressure as rising oil prices fuel inflation concerns, while expectations that the Federal Reserve may keep interest rates higher for longer are limiting the upside potential for precious metals.
Market participants are also closely watching this week's US Non-Farm Payrolls (NFP) report and other key economic data releases, which could determine the next major move in gold prices.
*Intraday Strategy for MCX Gold & Silver:*
According to my view, profit booking in short positions may emerge before the release of the US ISM Manufacturing data and the US market opening, potentially supporting a recovery in bullion prices.
Buy MCX Gold August Futures
Buy Range: ₹158530 - ₹158630
Targets: ₹160200 ₹160400 ₹160600
Stop Loss: As per risk management
Buy MCX Silver July Futures
Buy Range: ₹263800 - ₹264200
Targets: ₹269000 ₹270000 ₹271000
Stop Loss: As per risk management
*Conclusion:*
1. Despite ongoing pressure from geopolitical tensions, higher oil prices, and elevated interest rate expectations, profit booking at lower levels could trigger a short term recovery in gold and silver prices
2. Traders may watch for buying opportunities ahead of key US economic data releases, as increased volatility could create significant trading opportunities in the coming sessions
Hiren Garasondia's Research Gold and Silver