Gold ($4,219/ounce) lost 2.5 per cent last week whereas silver ($68/ounce) was up by a marginal 0.4 per cent. In the domestic market, gold futures (₹1,50,528/10 gm) was down 3.3 per cent and silver futures (₹2,46,186/kg) slipped 0.9 per cent. Below is an analysis.
Gold futures (Aug) closing the week below ₹1,52,000 is a bearish signal. It made an intra-week low of ₹1,46,444 on Thursday before recovering, which was aided by the 200-day moving average at ₹1,46,750.
While the contract has closed below ₹1,52,000, the chart shows that the breakdown is not decisive, keeping the chances open for a recovery. But only a breakout of ₹1,57,000 can truly turn the outlook positive.
On the other hand, if the contract falls below ₹1,49,000 from the current level, it could extend the drop to ₹1,44,000. So broadly, traders can wait for gold futures to breach either ₹1,49,000 or ₹1,57,000.
Trade strategy: Short gold futures with a stop-loss at ₹1,51,000 if it slips below ₹1,49,000. Exit at ₹1,44,000.
Silver futures (Jul), which declined in the first half, recovered in the last two sessions. The support at ₹2,30,000 helped the contract turn around.
But to establish an uptrend, the contract ought to break out of ₹2,60,000, in which case the rally can lift the price to ₹2,85,000 quickly.
However, if silver futures falls below ₹2,35,000, the bears can drag the contract to ₹2,20,000. That said, the chart shows that silver is relative stronger than gold at the moment.
Trade strategy: Sell silver futures if the price declines below ₹2,35,000. Place initial stop-loss at ₹2,42,000. Book profits at ₹2,20,000.
Published on June 13, 2026
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