Kamal Ghorui
Gold price prediction today: Gold prices seem to be exhibiting a corrective phase with a bearish tone, feels Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial Services Ltd. The analyst shares his outlook on the yellow metal:Gold is witnessing sharp swings in a broad range amidst mixed signals around a potential US–Iran ceasefire, with optimism fading after Iran denied negotiations despite positive remarks from Donald Trump. Prices later rebounded on bargain buying following a sharp 15% monthly decline driven by ETF outflows and reduced investor exposure. While geopolitical tensions and risks around the Strait of Hormuz offered support, gains remained capped by a stronger dollar and elevated bond yields amid “higher-for-longer” rate expectations. Physical demand showed slight improvement in India, while China stayed subdued. Focus now shifts US consumer confidence and jobs market data later this weekGold on MCX daily chart reflects a corrective phase after a steep rally, forming a potential bearish continuation structure with volatility still elevated. Immediate resistance is seen at 148,500–150,000 (near the middle Bollinger Band), while stronger resistance lies at 158,000; on the downside, support is placed at 136,000, followed by a crucial level at 128,500. Fibonacci retracement of the broader up move highlights 143,000 as a key pivot (38.2%), 135,000 as strong support (50%), and 127,000 as major demand (61.8%). Price recently touched the lower Bollinger Band and is attempting a mean reversion, but wide bands suggest continued high volatility. Overall bias remains sell-on-rise unless gold sustains above 150,000, while a break below 136,000 could accelerate downside pressure toward deeper support zones.(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)
