Gold and silver prices plunged in a week, with silver falling by ₹13,000; is this the right time to invest Gold and silver prices fell in a week, silver fell by ₹ 13,000; Is this the right opportunity to invest? – ..

Surprising figures have emerged for investors in the domestic commodity market this week. Due to global market pressure and profit booking, the shine of gold and silver has faded. According to the latest ‘Commodity Weekly Update’ report of Kedia Advisory, heavy selling pressure is being seen in precious metals. If you are planning to invest in gold or silver, then it is very important for you to understand these technical levels.

Big fall in silver, gold also became cheaper

A decline of -2.28% has been recorded in gold prices in the last one week, after which gold is trading at the level of ₹147,239 per 10 grams. If we look at the value, gold has declined by about ₹ 2,000. The situation of silver is even more serious, which has slipped by -5.62% to ₹ 2,32,736 per kg. That means, in just seven days, silver has become cheaper by ₹ 13,000. Market experts say that traders are currently avoiding taking new positions, which has a direct impact on the volume and open interest.

What are the important technical levels of gold and silver?

According to technical analysis, gold and silver are currently going through a decisive phase. Kedia advisory has advised to keep an eye on these levels:

• Gold: There is immediate support at ₹1,43,922, while a strong base remains at ₹1,40,604. At upper levels, ₹1,49,028 and ₹1,57,452 stand as resistance.

• Silver: First support is seen at ₹2,22,532 and strong support at ₹2,12,328. In case of bullish momentum, ₹2,38,366 and ₹2,64,404 will act as resistance.

Market trend: Vigilance necessary for investors

Indications from momentum indicators like RSI and CCI are showing that currently a bearish trend is dominant in precious metals. There is high volatility in the market, which may bring further fluctuations in the coming days. Experts believe that until there are no strong global signals, the prices of these metals may remain under pressure. Therefore, in the current situation, investors are being advised to act wisely and keep a close eye on the support levels.