For silver, he identified support at $61.20-$59.10 per troy ounce and resistance in the $67.70-$70.00 range.
In the domestic market, Jain expects gold on the MCX to have support between Rs 1,51,150 and Rs 1,50,000, while resistance is seen at Rs 1,53,500-Rs 1,54,400.
Silver, meanwhile, is likely to find support in the Rs 2,33,300-Rs 2,28,800 band, with resistance levels placed at Rs 2,41,400-Rs 2,45,000.
Jain advised traders to avoid taking fresh positions in gold and silver at current levels and wait for greater clarity in price action. However, he said long-term investors may use the ongoing correction to gradually build exposure through the SIP route.
✍️ Vikrant Kharwar
Vikrant Kharwar is the Founder and Editor of News Us Media. He writes about trending news, sports, entertainment, technology, and viral stories. His goal is to make news simple, informative, and easy to understand for readers across the United States and around the world.
