Gold And Silver Price Outlook: Key Support Levels And Buy-on-Dip Strategy Explained

Gold and silver have witnessed a corrective move after their recent rally, with both precious metals now showing signs of consolidation. MCX Gold has declined from around ₹1,64,700 to ₹1,50,000, while ₹1,42,000–₹1,45,000 is being seen as a key support zone. Chandan Taparia, Head Derivatives & Technical, Wealth Management, Motilal Oswal Financial Services, expects gold to remain a buy-on-decline opportunity, with ₹1,65,000–₹1,70,000 as potential levels. In silver, ₹2,25,000 is a key support, while ₹2,45,000–₹2,50,000 could be important on the upside. The expert explains the outlook for the next one to three months.