Gold Rates & Silver Rates Weekly Outlook: 24K, 22K, 18K Gold Up 6%, Silver Up 4%, Will Trend Continue?

Gold rates in India have rallied nearly 6% across carats in just 8 days of the month of August, while silver rates in the country have soared 5%. 10 grams of gold has reclaimed above the Rs 1.52 lakh mark in 24 carat, while the 999 purity silver is priced at Rs 2.45 lakh per 1 kg. Precious metals rallied after expectations of a rate hike in September policy eased, while a possible ceasefire in West Asia supported the narrative of cooling in inflationary pressure. In the week ahead, 10 grams of gold will test the Rs 1.60 lakh mark, and 1 kg of silver will also test around Rs 2.40 lakh mark at MCX. The trajectory, however, is seen to be volatile.

Gold Rates In India:

At present, 24-carat gold price stood at Rs 1,52,350 per 10 grams, while 22 carat and 18 carat gold price stood at Rs 1,39,650 and Rs 1,14,260 respectively. Gold prices are unchanged on Sunday, but still hold the highest level of the month.

In August so far, gold prices zoomed by nearly 6%. In the start of August, 10 grams gold was merely at Rs 1,44,220 in 24 carat and even dropped to its month-low of Rs 1,44,000 on August 4th before picking up momentum.

Silver Rates In India:

Currently, 1Kg silver price stood at Rs 2.45 lakh, while 100 grams and 10 grams silver stood at Rs 24,500 and Rs 2,450. The price of 8 grams silver is at Rs 1,960 and 1 gram silver is at Rs 245.

Silver has surged by over 4.2% in August so far. The lowest rate of silver was seen on August 1st at Rs 2.35 lakh.

At MCX, both gold and silver surged even higher.

"Gold and silver consequently emerged as the strongest-performing commodities of the week. Gold, which had started the week under pressure as geopolitical risk premiums eased following the postponement of a planned U.S. strike on Iran, staged a sharp reversal after the employment report, climbing to a seven-week high and posting a weekly gain of more than 8%," said Ponmudi R, CEO of Enrich Money.

He added, "Silver followed a similar trajectory, retreating early in the week before rallying to a six-week high by Friday as lower Treasury yields and a weaker dollar improved the appeal of non-yielding assets. Despite the shift in rate expectations, inflation remains a key risk, suggesting that the Federal Reserve's next policy move will continue to depend on upcoming inflation and labour-market data."

MCX Gold Price + MCX Silver Price + Spot Gold Price + Spot Silver Price

Last week, on August 7th, MCX gold price stood at Rs 1,51,985 per 10 grams, while MCX silver stood at Rs 2,31,804 per 1Kg.

Meanwhile, spot gold rose to two-month high above $4,350 per ounce, as lower energy prices and softening labor conditions limited expectations that the Federal Reserve would deliver a rate hike this year, as per Trading Economics data.

Spot silver is at a seven-week high of over $63.50 per ounce.

Gold Rates & Silver Rates Weekly Outlook For August 10-15:

Here's how gold and silver rates will perform in the coming week both at MCX and international market, which play a role in defining sentiments for physical precious metals in India, as per Ponmudi.

MCX Gold Price Outlook:

Immediate resistance is placed at Rs 152,200-Rs 152,800, followed by the next resistance zone at Rs 154,100-Rs 154,800; a sustained close above Rs 154,800 would open the path toward fresh highs. On the downside, immediate support lies at Rs 150,000-Rs 150,700, with the next support at Rs 148,000-Rs 148,600; a break below Rs 148,000 would stall the current breakout. The decisive move out of the prior consolidation range, backed by rising RSI on both daily and weekly charts, keeps the structure firmly constructive heading into next week.

MCX Silver Price Outlook:

Immediate resistance is placed at Rs. 235,000-Rs. 236,000, coinciding with the 20-week and 100-week EMAs; a sustained close above this would confirm a more decisive trend reversal toward Rs. 240,000. On the downside, immediate support lies at Rs 229,000-Rs 228,000, with the next support at Rs 225,000-Rs 224,000; a break below Rs 224,000 would stall the current recovery attempt. Momentum has clearly turned in the bulls' favour this week, and how price behaves around the Rs 235,000 EMA cluster will likely set the tone for the next leg.

Spot Gold Price Outlook:

Immediate resistance is placed at $4,470.0-$4,500.0, followed by the next resistance zone at $4,600.0-$4,630.0; a sustained close above $4,630 would open the door toward a fresh push higher. On the downside, immediate support lies at $4,330.0-$4,300.0, with the next support at $4,230.0-$4,200.0, coinciding with the daily 50/200-EMA cluster; a break below $4,200 would undermine the current breakout structure. With EMAs reclaimed on both timeframes after the sharp reversal off the $4,074.0 low, the broader setup now favours buyers on dips rather than sellers on rallies.

Spot Silver Price Outlook:

Immediate resistance is placed at $65.200-$66.000, followed by the next resistance zone at $68-$69; a sustained close above $69 would confirm a decisive trend reversal. On the downside, immediate support lies at $61.000-$60.500, with the next support at $58.000-$57.200; a break below $60.000 would stall the current recovery attempt. Having staged one of its sharpest weekly bounces in months, the metal now needs follow-through buying above $66 to convince the market this is more than a short-covering rally.

Also, analysts at SMC Global Securities said, recent market pricing suggests expectations for another rate hike have eased, improving sentiment toward non-yielding assets such as gold.

Additionally, the World Gold Council (WGC) also maintained a constructive outlook in its latest July report. The council noted that positive momentum factors outweighed weaker risk sentiment, while gold prices across major global currencies remained within a ±2% trading range, reflecting healthy consolidation rather than weakness. WGC further highlighted that a second wave of inflation, similar to the late 1970s, remains a possibility. However, it emphasized that gold's next major move will depend more on real interest rates, the U.S. dollar, global growth expectations, central bank purchases, and Asian investor demand than on inflation alone.

Lastly, SMC's note said gold is to trade in the Rs 145,000-Rs 160,000 range, while silver is likely to remain within Rs 220,000-Rs 240,000. Volatility is expected to remain elevated around key U.S.
economic data releases, making disciplined risk management essential for traders

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