The prices of precious metals are in a cold phase, and prices could remain moderate in the short term | Photo credit: Angel García
The price behavior of price metals was volatile last month. After the initial weakness, the precious metals managed to assemble their way back to the middle of the month. Comex Gold Edged adapts to the psychological brand of $ 3,500 to climb a new historical maximum of $ 3,509 on April 22. Prices have cooled in recent days.
The hope of a possible decalization in the tariff war in the United States and China played a key role in bringing precious metals to lower levels in recent days. COMEX GOLD registered a profit of 4.5 percent in April to end the month at $ 3,299.2. Comex Silver remains a relative low performance compared to gold and lost 5.6 percent in April to settle at $ 32.82.
When reflecting the trend in global markets, the price of gold MCX won 4.3 percent to establish ₹ 94,611 for 10 grams at the end of April. Reflecting the weakness in international markets, MCX Silver also closed 5.8 percent lower than ₹ 96,833 per kg.
As observed last month, the price of precious metals exceeds the average and, therefore, it is likely to be a cooling. Unless the Gold Price Comex is crossed above the resistance level in the $ 3,400- $ 3,410 zone, there is a great possibility of a sliding for the next support zone at $ 3,140- $ 3,150. However, the long -term trend remains positive, and the price could resume its upward trend at the end of anticipated short -term cooling.
Comex Silver Price remained weak last month and fell to a minimum of $ 27.55 on April 7 and managed to recover from then on. Prices, however, have been weak in recent days. The short-term perspective for Comex Silver remains weak, and the price could be directed to the next support zone at $ 26- $ 26.50. Only one movement adjusts to $ 34.5 would invalidate the negative perspective in the short term. From a medium-term perspective, the Comex Silver price can range in a wide range or $ 25- $ 35.
MCX Gold Price approached the psychological level of ₹ 1.00,000 in April, but retreated at lower levels in the last commercial sessions. The short -term perspective for MCX Gold is weak, and the price could fall in the next objective zone of ₹ 84,500 ₹ 85,000. Unless the price moves above ₹ 99000, there would be a solid case for ease with the ₹ 86,500- ₹ 88,500 area.
As observed last month, the short -term perspective for MCX silver is negative. The price could fall for the immediate support of ₹ 90,500- ₹ 91,500. Only one movement over ₹ 1,05,000 would trigger a more upward boost.
Conclusion
To summarize, precious metals prices are in a cold phase, and prices could remain moderate in the short term. The long -term trend, however, remains positive.
(The author is an analyst/merchant based in Chennai. The opinions and opinions presented in this column are based on the analysis of short -term price movements in gold and silver future in trade and multi comfort or investment of India))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))
Posted on May 5, 2025
