Gold price prediction: Will gold go to Rs 1.51 lakh & silver hit Rs 2 lakh? Check outlook on November 12, 2026

In the current setup, buying on dips appears preferable, while maintaining a strict stop-loss at 137800.

Gold and silver price prediction today: Any dips in gold and silver prices can be used to initiate long positions, says Abhilash Koikkara, Head – Forex & Commodities, Nuvama Professional Clients Group. Here is his outlook:

MCX Gold Price Outlook

MCX Gold has rebounded from the lower boundary of its broad consolidation range, holding above support at previous swing lows that has remained intact since January 2026. Prices have traded in a narrow range over the past two weeks during the festive period and are likely to remain range-bound until a breakout occurs. As long as the recent weekly lows hold, the outlook is sideways to bullish, with this bias expected to prevail through the week.Gold may face resistance at 147,000, being the level of 30-week exponential moving average. A close above it would point to a potential move toward the level of 151,500. The bias should remain bullish while support holds at 137,800, which may also mark a reversal point for an intermediate rally. However, a close beneath this support could revive bearish momentum, with prices potentially moving down to 132,000.Prices opened the week firmly but gave back their gains over the course of the week, suggesting a lack of clear trend direction. In the current setup, buying on dips appears preferable, while maintaining a strict stop-loss at 137800.

MCX Gold Trading Strategy

MCX Silver Price Outlook

Silver has bounced from this year’s low but remains in a consolidation range near those levels. A decisive move beyond the range is expected to confirm the trend in either direction. While prices hold above the recent lows, trading may maintain a sideways-to-bullish bias. A break below the recent swing lows would renew the bearish bias.With prices rebounding from their lows, the 174,000 level now represents an important support zone. As mentioned earlier, if this support gives way, prices could fall toward the support zone at 160,000. At 200,000, the 30-day exponential moving average provides resistance and a potential target. Prices may seek to test the next resistance level, at 210,000, over the coming week.Technical and momentum indicators point to a continuation of sideways-to-bullish momentum, while near-term market sentiment maintains an intermediate bullish bias. Any decline in the current price toward the stated support should be considered an opportunity to initiate long positions, with a reversal level at 179,000.

MCX Silver Trading Strategy

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