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. Prices are comfortably holding above both moving averages, suggesting that every intraday decline is likely to attract fresh buying interest. The positive alignment of the moving averages reflects the continuation of the prevailing uptrend and indicates that buyers remain in control.The Bollinger Band setup also supports the bullish outlook. Gold is trading in the upper half of the Bollinger Band, highlighting sustained buying momentum despite the recent consolidation. The middle Bollinger Band is expected to act as immediate support, while any pullback towards this zone is likely to witness renewed buying. A decisive move above the recent swing high could open the door for fresh momentum buying and an extension of the ongoing rally.Previous day’s Pivot Point analysis continues to favour the bulls, with prices sustaining comfortably above the central pivot and the Central Pivot Range (CPR). Holding above the pivot support indicates that market participants continue to accumulate positions on declines. Unless prices slip below the immediate support zone, the overall trend is expected to remain positive.Momentum indicators further reinforce the constructive outlook. The Relative Strength Index (RSI-14) is hovering around 58, indicating healthy bullish momentum with sufficient room for additional upside before entering overbought territory. Meanwhile, the MACD remains in positive territory with the MACD line trading above the signal line, reflecting sustained upward momentum and confirming the continuation of the prevailing trend.
Gold Intraday Trading Strategy
- Strategy: Buy on Dips
- Buy Level: Rs 1,49,250
- Stop-Loss: Below Rs 1,47,900
- Target 1: Rs 1,50,200
- Target 2: Rs 1,50,700
Gold Price Outlook
The overall technical structure remains firmly bullish as Gold continues to trade above its key moving averages while maintaining a sequence of higher highs and higher lows. The positive EMA alignment, supportive pivot structure, strengthening MACD, and healthy RSI readings collectively indicate that the broader uptrend remains intact. Although short-term profit booking may create intermittent volatility, such declines are likely to be viewed as buying opportunities. As long as Gold holds above the crucial support of Rs 1,47,900, traders should continue to adopt a buy-on-dips approach. A sustained move above the recent swing high is likely to accelerate buying momentum and drive prices towards the Rs 1,50,200–Rs 1,50,700 zone during the session.(Disclaimer: Recommendations and views on the stock market, or any other asset classes or personal finance management tips given by experts and analysts are their own. These opinions do not represent the views of The Times of India.)
