Gold, silver prices today: Gold may hit Rs 1.52 lakh, silver Rs 2.28 lakh, says Kedia Advisory's Amit Gupta

Gold and silver prices presented a mixed picture on October 12, with domestic futures opening lower even as international prices moved higher. Investors are tracking key technical levels, movements in crude oil prices and geopolitical developments for fresh cues on the precious metals market.

At the market opening, MCX Gold futures traded at ₹1,50,889 per 10 grams, down 0.40%. MCX Silver futures stood at ₹2,25,550 per kilogram, declining 0.09%.

In the international market, gold futures rose 0.27% to $4,227 per ounce, while silver futures gained 0.41% to $61 per ounce.

Gold-Silver Outlook: What Are the Key Levels to Watch?

Amit Gupta, Senior Research Head at Kedia Advisory, has highlighted important price levels for both metals. According to his outlook, domestic gold could target ₹1,52,500 per 10 grams, while silver could move towards ₹2,28,000 per kilogram.

“If gold sustains above $4,190 per ounce in the international market, the outlook could remain firm, with the next target at $4,220. On the domestic front, MCX Gold could target ₹1,52,500 per 10 grams. For silver, $60 per ounce remains a key support level, while $61.80 is the next upside level to watch. MCX Silver could move towards ₹2,28,000 per kilogram,” Gupta’s outlook indicates.

These levels are potential targets, not guaranteed outcomes. Gold and silver prices can respond to several factors, including crude oil movements, the US dollar, currency fluctuations, inflation expectations and geopolitical tensions.

The rupee’s movement against the US dollar is also important for domestic gold prices. Even when international prices rise, a stronger rupee can help moderate prices in the Indian market.

Going forward, investors will watch whether gold and silver sustain their key support levels and move towards the targets highlighted by Gupta.

The direction of global markets and currency movements will remain crucial in determining the next move in domestic prices.