After a few months of Lulla, precious metals received Sheen last month. Both gold and silver recorded impressive benefits, especially in the late August.
The US Dollar weakened by the US Federal Reserve with expectations of more interest rate cuts played an important role in increasing the spirit towards precious metals.
Comex Gold Fans
Comex Gold increased by 5.2% in August and closed at $ 3,516.1. The performance of comex silver was even more impressive with getting 10.76% with white metal to settle at $ 40.75 by the end of August.
Reflecting the trend in global markets, MCX Gold Price closed 5.06% more, which to organize well above psychologist of 1,00,000 points, at 1,03,780 per 10-gram. MCX Silver gained 8.95% in August, settling at 1,21,702 per kg.
As seen over the last few months, Comex Gold Price resumed its uptrend at the brakeout of the upper end of the former border at $ 3,450. The previous one step of this level increased the speed, pushed to the fresh all-time high. The short-term approach is positive and the price of Comex gold can go to the next target of $ 3,680–3,720 range. This positive attitude will be invalid only when the price of gold slips below the support area at $ 3,350- $ 3,370.
Comex Silver has displayed relative out-performance vs. Gold in the last few months, and it remained in August as well. As seen last month, a wee bit cooled a bottle in August before removing the price of silver.
The brakeout above the major resistance at $ 38.5 gave up the upside down and helped the high $ 40.75 of the Silver Price Scale Fresh 52-week. The short-term approach for comex silver remains positive, and the price can go to the next inverted target of $ 43.5–44.5. A close positive attitude will rejuvenate a close positive attitude below $ 35.5.
International price was uptrend in the positive rubbing on MCX Gold. MCX Gold Price, managed to breakout above the major resistance level of 1,02,000, is a positive signal. The price can go to the next target area of ₹ 1,10,000- ₹ 1,12,000.
Violation of support level at just ₹ 96,500 will invalize a positive attitude for MCX Gold.
Unlike expectations, MCX Silver staged a fast recovery last month and managed to increase the 52 -week high levels in late August. The price of silver can seek high levels in short -term. A step of ₹ 1,30,700 -₹ 1,31,500 appears likely. If the price falls below ₹ 1,11,000, the positive attitude will be in danger.
In short, both gold and silver have resumed their uptrend and can seek high levels in short term.
(The author is a Chennai -based analyst/merchant. The idea and opinion shown in this column is based on the analysis of short -term value movement in India’s Comex and Multi Commodity Exchange. It is not a business or investment advice.)
Published – September 08, 2025 06:28 AM IST
