Gold and silver prices surged last week amid technical strength and mounting macroeconomic concerns, prompting renewed investor optimism and setting the stage for potential further gains in 2025 and 2026.
Gold and silver rallied sharply last week as investors bid up precious metals on a mix of technical strength and broader macro uncertainty. According to The Hindu BusinessLine, gold climbed to $4,342 an ounce and silver reached $63.90 an ounce, while Indian futures also advanced strongly, signalling renewed momentum across both global and domestic markets.
In the Indian market, October gold futures finished at ₹151,820 per 10 grams after breaking above a key resistance level near ₹147,000, the report said. The contract is now trading above its 21-day and 50-day moving averages, a sign that short-term sentiment has turned constructive. The analysis points to a possible move towards ₹158,000, although a brief pullback to around ₹149,000 would not be unusual before any further advance.
The bearish case remains limited unless gold slips back below ₹147,000, which the analysis identifies as a former ceiling that has now become support. If that level fails, the price could ease towards ₹143,000, though the balance of evidence still favours gains. The suggested strategy is to buy on dips with a target of ₹158,000 and a stop-loss at ₹146,000.
Silver futures also recovered strongly, closing at ₹231,466 per kilogram after holding support near ₹214,000 and moving above ₹227,000. The next hurdle is around ₹238,000, with a clear breakout needed to open the way to a stronger rally, and the report flags ₹259,000 as the next major resistance above that. On the downside, a drop back below ₹227,000 could expose ₹220,000.
The bullish tone fits a wider pattern seen in 2025 and 2026. A January note from Standard Chartered’s global chief investment office said silver had surged on haven demand, a weaker dollar and rising geopolitical uncertainty, while also noting that gold mining shares had performed strongly. Deutsche Bank said in an April report that gold was trading more than 50% above its level at the end of March 2025, underscoring how persistent the metal’s advance has been. CPM Group’s Jeffrey Christian has also pointed to investment demand, shifting risk perceptions and global political uncertainty as key drivers behind the precious-metals rally.
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