Gold price prediction: Should you buy gold on dips?
Market analysts suggest a positive technical outlook for gold prices, noting a recovery above key moving averages and trend-support levels. Traders are advised to look for buying opportunities near Rs 1,53,650 with specific stop-loss and target price points.
Why it matters
Gold is a primary hedge against economic uncertainty, and technical analysis provides retail investors with actionable data for commodity trading.
Gold price prediction today: Gold’s intraday outlook from a technical standpoint is positive, says Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities. Below is what he has to say:MCX Gold October futures are showing a strong intraday recovery, with prices trading around Rs 1,53,870 after breaking above the recent consolidation zone. The 30-minute chart indicates improving buying momentum, supported by a strong price structure and a sustained move above the key moving-average and trend-support levels.The recent price action shows Gold forming higher highs and higher lows after finding support near Rs 1,51,000–Rs 1,51,500.
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