Gold price prediction today: Gold prices are exhibiting a bullish bias, says Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities. Here is his strategy for gold investors:Gold futures on MCX traded steady near ₹1,25,540, consolidating within a tight range after recent sessions of sideways movement. Despite low volatility, the underlying technical structure continues to suggest a bullish bias, as short-term momentum remains supported by the moving averages. The setup indicates a buy-on-dips opportunity near ₹1,25,500, with the bias staying positive above ₹1,25,350.
Gold Technical Setup:
The 8 EMA continues to hover slightly above the 21 EMA, maintaining a mildly bullish crossover that supports buying on declines. A sustained move above ₹1,25,850 could trigger fresh upside momentum toward higher resistance levels.Gold prices are trading close to the mid-Bollinger band, suggesting a consolidation phase. The lower band, placed near ₹1,25,400–₹1,25,500, serves as strong intraday support where fresh buying interest is likely to emerge.
- Support Levels: ₹1,25,500 – ₹1,25,350
- Resistance Levels: ₹1,25,850 – ₹1,26,200
- Maintaining trade above ₹1,25,500 keeps the intraday tone constructive.
The RSI is currently around 47, reflecting neutral momentum but with scope for recovery. A move above 50 on the RSI scale would reinforce a bullish continuation.The MACD line remains close to the signal line, showing a potential for upward crossover as consolidation continues. This suggests that momentum could build once price sustains above ₹1,25,850.
Gold Intraday View:
- Strategy: Buy near 125500
- Entry Zone: ₹1,25,500 – ₹1,25,550
- Stop-Loss: ₹1,25,250
- Upside Targets: ₹1,25,850 and ₹1,26,200
- Bias: Bullish above ₹1,25,500; weakness resumes only below ₹1,25,250.
Conclusion:Gold’s intraday technical setup reflects a steady bullish bias, supported by short-term moving averages and a potential MACD crossover. With the RSI stabilizing near mid-range and Bollinger Band support intact, traders are advised to adopt a buy-on-dips strategy around ₹1,25,500, keeping a stop-loss below ₹1,25,250 and targeting ₹1,25,850–₹1,26,200. Sustained trade above the upper band may further extend gains toward ₹1,26,450 in the near term.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)
