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Gold and silver prices are expected to remain volatile in the near term as investors closely track geopolitical developments in the Middle East, fluctuations in crude oil prices, and expectations surrounding the US Federal Reserve’s interest rate path, according to market analysts.
Analysts said MCX Gold ended the week on a negative note but managed to stabilise around the crucial psychological support level of ₹1,40,000 per 10 grams. They believe a decisive break below this level could intensify selling pressure and push prices towards the ₹1,39,300-₹1,38,700 support zone.

On the upside, immediate resistance is seen in the ₹1,40,700-₹1,41,000 range, followed by ₹1,42,000-₹1,42,700. Analysts said a sustained move above these resistance levels could strengthen recovery momentum and improve market sentiment.

MCX Silver also ended the week with a cautious negative bias, continuing to trade below key resistance levels. Analysts expect resistance in the ₹2,17,000-₹2,18,000 range, followed by ₹2,20,000-₹2,21,000. On the downside, the ₹2,15,000-₹2,14,000 zone remains immediate support, while a break below this area could drag prices towards ₹2,11,000-₹2,10,000. Overall, analysts believe the broader trend remains weak, with sustained strength above resistance levels needed to signal a meaningful recovery.

In the international market, COMEX Gold also closed the week with a negative bias while attempting to hold above the key $4,000 per ounce support level. Analysts said a break below this mark could trigger fresh selling towards the $3,920-$3,900 zone. However, a recovery above $4,050-$4,070 could lift prices towards the $4,120-$4,150 range.

COMEX Silver remained under pressure as well, with prices attempting to sustain above the $55-$54.50 support area. A decisive break below this range could lead to further weakness towards $53, while a move above $56.50-$57 may improve sentiment and potentially drive prices towards $59.

Meanwhile, retail bullion prices in India continued to remain elevated despite weakness in futures markets. As of July 18, 2026, 24-carat gold was retailing at around ₹1,42,530 per 10 grams, while 22-carat gold was priced at approximately ₹1,30,650 per 10 grams across major cities. The price of 999 purity silver stood at nearly ₹1,71,900 per kilogram.

Market experts said gold continues to face pressure amid global uncertainty and expectations over the US Federal Reserve’s monetary policy, while silver is trading with a weak bias. Investors are expected to remain focused on global economic data, central bank signals, and geopolitical developments, which are likely to determine the next direction for precious metal prices.