| Support 2 | 164,160 |
|---|---|
| Support 1 | 174,400 |
| CMP | 176,309 |
| Resistance 1 | 183,250 |
| Resistance 2 | 191,000 |
Silver Price Forcast for Next Week
COMEX Silver prices declined around 6.18% over the week, pressured by stronger US dollar, rising real yields and persistent inflation concerns that reinforced expectations of further Fed tightening. The dollar index climbed above 103, its highest since March 2025, following elevated US consumer and producer inflation data. Markets increasingly expect a 25-bps Fed rate hike in December. Meanwhile, silver's industrial outlook remained mixed, with overall demand forecast to fall 5% this year, including a 21% decline in solar-sector consumption. Although the market is expected to record a fifth consecutive annual supply deficit of 35 million ounces, increased ETP selling and reduced industrial consumption have improved physical market liquidity, limiting upside potential.
MCX Silver prices continued to witness selling pressure, with the previous week's recovery failing to sustain. Prices closed at Rs 176,309, trading below all key moving averages: 20-50-100-200 DEMA placed at 190,475, 206,755, 220,687 and 226,693, respectively. This indicates persistent weakness in the broader trend. The RSI is hovering around 28.81, suggesting that silver has entered the oversold territory, which may lead to intermittent recovery attempts. Open interest remained sideways to slightly higher at around 17,030 lots, indicating continued positioning despite the ongoing price decline.
Overall, the outlook for MCX Silver remains moderately bearish, with further downside pressure possible. However, traders should exercise caution near the immediate support zone, as deeply oversold conditions could trigger short-term pullbacks. A sustained recovery above immediate resistance would be required to signal any meaningful improvement in momentum.
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Other News
Crude Oil Price Forecast for Next Week
WTI Crude oil prices declined sharply by nearly 12% this week, slipping towards $90 per barrel and recording their steepest weekly fall since mid-April, as hopes of a diplomatic breakthrough between the US and Iran eased concerns over potential supply disruptions. US President Donald Trump held discussions with Qatar's Emir, while Tehran reportedly reviewed nuclear proposals conveyed through mediators. Diplomatic efforts involving Qatar and China have raised expectations of a possible agreement to end the conflict and restore crude flows through the Strait of Hormuz. Despite the round of talk on table, continued tanker attacks and Iran's demands for sanctions relief, frozen asset releases and the lifting of the US naval blockade continue to pose significant supply-side risks.
Gold Price Forecast for Next Week
COMEX Gold prices closed near $3,883/oz, their lowest levels since September 2025, pressured by a stronger US dollar and rising Treasury yields amid expectations of aggressive Fed tightening. US CPI rose 0.4% in October, while markets priced in an 89% probability of a 25-bps December rate hike. Hawkish Fed commentary and elevated inflation further weighed on bullion. Meanwhile, Indian gold demand remained firm as lower domestic prices encouraged festive purchases, with Dhanteras-Diwali demand rising 30% year-on-year in volume terms, despite imports falling 39.9% during April-October. The US 10-year Treasury yield gained 30 bps weekly, as persistent inflation and AI-sector credit concerns intensified selling pressure across fixed-income markets.
Indian Stock Market Prediction For Next Week
The overall month has been quite unpredictable. While many on the chart stood strong, most of them have slipped. Bank Nifty on the other hand maintained its grip for a long time but now appears slightly bearish. Let’s see what the coming month holds for the investors as Mr. Sumeet Bagadia, Executive Director of Choice takes us through the weekly predictions of the market.