Gold price prediction: Is it time to buy gold on dips? Check outlook
Market analysts suggest a 'buy on dips' strategy for gold as technical indicators show signs of a potential price recovery. The outlook remains cautiously optimistic provided the metal maintains support levels above Rs 1,40,000.
Why it matters
Gold is a primary hedge against geopolitical and economic uncertainty, making these technical insights valuable for retail and institutional investors.
Gold price prediction today: Gold prices are favouring a buy on dips strategy, says Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities.MCX Gold August futures have witnessed a sharp intraday recovery after finding strong buying interest near lower support levels, indicating that the recent corrective phase may be nearing completion. The rebound has been accompanied by improving momentum indicators and a positive crossover in short-term price action, suggesting that buyers are gradually regaining control.Although volatility remains elevated due to uncertainty surrounding global trade policies, geopolitical developments and expectations over the US Federal Reserve’s monetary policy, the overall technical setup favours accumulating long positions on declines rather than chasing prices at higher levels.
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