Gold, silver price prediction: Will gold hit Rs 1.5 lakh in Dhanteras week? Check outlook on November 5, 2026

A buy-on-dips strategy appears favourable heading into the festive week, with strict stop-loss placed below the previous week’s low of 138,000.

Gold and silver price prediction today: Gold and silver prices have recovered from recent lows but may face some upside resistance, says Abhilash Koikkara, Head – Forex & Commodities, Nuvama Professional Clients Group. Here is his outlook:

MCX Gold Price Outlook

MCX Gold has rebounded from its recent lows following the market’s reaction to the US Midterm Election results. Prices have managed to sustain above the long-term support zone formed by previous swing lows, which has been sustained since January 2026. The daily chart indicates a revival of buying interest post the event, suggesting that bullish momentum could strengthen further over the coming trading sessions.Gold is likely to face an immediate resistance around 147,500, coinciding with its 30-week exponential moving average. A sustained weekly close above 146,000 would reinforce the bullish outlook and potentially establish a fresh positive bias for the week ahead. On the downside, key support levels are placed at 140,000 and 138,000. However, a weekly close below 138,000 would invalidate the anticipated bullish setup and weaken the positive outlook.Following the recent reversal, gold prices started the week on a positive note, recovering from the previous week’s lows and maintaining an upward bias. The bullish price action is further supported by favourable technical and momentum indicators, which reinforce the improved market outlook. Accordingly, a buy-on-dips strategy appears favourable heading into the festive week, with strict stop-loss placed below the previous week’s low of 138,000.

MCX Gold Trading Strategy

MCX Silver Price Outlook

Similar to gold, silver has recovered from its recent lows, supported by renewed buying interest, and is likely to maintain a positive bias during the coming week. The previous week’s high will act as the immediate resistance and a decisive move above this level could make the way for a fresh intermediate bullish trend. Following the positive market reaction to the US Midterm Election results, prices are expected to build on the ongoing recovery and sustain their upward momentum in the sessions ahead.The recent recovery is expected to find support around the weekly low of 174,000, and a decisive break below this level could reinforce the existing bearish trend. As long as prices sustain above this support, the recovery may extend towards the previous breakdown zone of 210,000, with an immediate resistance placed around 198,000.Technical and momentum indicators on the daily charts suggest that the prevailing bearish momentum may be gradually losing strength, with both showing signs of recovery from lower levels.A cautious buy-on-dips approach may be considered, keeping the previous week’s lows as the stoploss levels. However, the recent recovery could also be a short-term, news-driven reaction within the broader bearish trend. Hence, any fresh buying positions should be initiated with a strict stop-loss to manage downside risk.

MCX Silver Trading Strategy

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