Gold price prediction: Buy on dips the right strategy for gold right now?

Gold price prediction today: The technical structure for gold is bullish and prices are expected to go up, says Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities.MCX Gold October futures continue to trade with a positive bias as prices remain well supported above key moving averages despite witnessing intermittent profit booking. The overall trend remains constructive, with higher highs and higher lows indicating sustained buying interest. The recent consolidation appears to be a healthy pause within the broader uptrend rather than a reversal. Traders may therefore consider buying Gold near Rs 1,49,250, with a protective stop-loss below Rs 1,47,900, targeting an upside move towards Rs 1,50,700 during the intraday session.From a technical standpoint, the 8-period EMA continues to trade above the 21-period EMA, confirming that short-term momentum remains firmly in favour of the bulls.