Gold, silver price prediction: Will gold drop to Rs 1.4 lakh/10 gms? Check outlook

Gold and silver price prediction today: Gold prices are falling but buying on dips is the recommended strategy this week, says Abhilash Koikkara, Head - Forex & Commodities, Nuvama Professional Clients Group, adding that silver prices will see support at Rs 225,000 level. Below is his outlook for gold and silver prices:MCX Gold Price OutlookMCX Gold has extended its decline from the previous week, continuing to trade lower through the current week & the move that supports to an intermediate bearish bias heading into the week ahead. However, with the base trend being positive, the current correction toward support should be seen as an accumulation opportunity rather than a sign of trend reversal.The breakout level of 148,000 level from the formation and current weekly moving average on the mentioned level, remains the crucial support to watch heading into the current week.