Synopsis: Gold and silver prices are expected to stay sharply volatile on April 24, 2026, as the dollar index continues to move, crude oil prices fluctuate, and uncertainty around a potential US-Iran peace deal remains unresolved; Manoj Kumar Jain of Prithvi Finmart has mapped out clear support and resistance levels on both the international and MCX fronts, and recommends holding off on fresh trades until price action stabilises.
Bullion markets are heading into another turbulent session. Movement in the dollar index, swings in crude oil, and the unresolved question of whether a US-Iran peace agreement will materialise are together creating a trading environment where directional bets carry elevated risk.
Manoj Kumar Jain, Commodity Research Head at Prithvi Finmart, expects gold and silver to remain highly volatile through today’s session and has laid out a framework of support and resistance levels for traders tracking both international spot prices and domestic MCX contracts.
In international markets, gold faces a well-defined range for the session. Jain places immediate support for gold between $4,681 and $4,640 per troy ounce; levels that would likely attract buying interest if the metal drifts lower on dollar strength or reduced safe-haven demand. On the upside, resistance is pegged between $4,755 and $4,790 per troy ounce, a zone where sellers may emerge if geopolitical uncertainty starts to recede and risk appetite ticks up.
The wide support and resistance bands themselves signal the degree of uncertainty baked into the market right now. When analysts spread support over a $41 range and resistance over a $35 range, it reflects an environment where price discovery is genuinely in flux, not one where sentiment has settled.
On the Multi Commodity Exchange of India, gold finds support in the Rs 1,55,000 to Rs 1,49,800 per 10 grams range for the session, with resistance seen between Rs 1,52,350 and Rs 1,53,100. Domestic prices carry their own overlay of rupee movement and import duty dynamics, which can cause MCX levels to diverge from the international trend on any given session. Traders with MCX positions should monitor both the dollar index and the rupee simultaneously.
Silver, which tends to amplify gold’s moves in both directions, has support placed between $72 and $68 per troy ounce in international markets. Resistance is expected in the $78–$80.40 range. The spread between support and resistance is notably wide which underscores that silver’s volatility is running even higher than gold’s in the current environment. Silver’s dual role as both a precious and an industrial metal means it is also sensitive to any shift in global growth expectations, making the US-Iran situation a double-edged variable for the white metal.
On MCX, silver has support in the Rs 2,38,800 to Rs 2,34,000 per kg range, while resistance is placed between Rs 2,45,000 and Rs 2,48,500. Domestic silver traders will additionally want to track crude oil movements, given the correlation between energy costs and industrial demand signals.
Given the confluence of dollar volatility, crude oil price swings, and unresolved geopolitical news flow, Jain recommends that traders wait for clearer price stability in the bullion market before initiating any fresh positions. The guidance is essentially to let the range define itself through the session rather than anticipate a breakout in either direction with new capital at risk. For existing positions, the support and resistance bands above provide a reference frame for managing stops.
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