Gold price prediction today: Gold appears to be stabilising after recent corrections, says Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities, while recommending a buy on dips strategy.MCX Gold October futures are consolidating around Rs 1,50,800 after witnessing a sharp correction from higher levels. The 30-minute chart shows that prices are attempting to form a base near the Rs 1,50,500–Rs 1,50,750 zone, while momentum indicators are showing early signs of recovery.The recent price action suggests that selling pressure has moderated near the lower levels. Traders can consider a buy-on-dips strategy near Rs 1,50,750, with a strict stop-loss below Rs 1,50,000 and an upside target of Rs 1,51,900.
Gold: Technical Setup
EMA 8 & EMA 21:Gold is still trading below the broader falling moving-average structure, indicating that the larger intraday trend remains under pressure. However, the shorter-term price action is stabilising around Rs 1,50,700–Rs 1,50,800. A sustained move above Rs 1,51,150 would provide stronger confirmation of recovery.Bollinger Band / Price Structure:The metal has moved towards the lower portion of its recent trading range and is attempting to build a base. The Rs 1,50,000–Rs 1,50,500 region is therefore an important support area. Holding this zone can allow prices to retrace towards the middle and upper portions of the current range.Pivot Levels:Immediate support is placed around Rs 1,50,750, followed by the stronger base near Rs 1,50,000. On the upside, Rs 1,51,150–Rs 1,51,550 remains the initial resistance zone, while Rs 1,51,900 becomes the key upside objective.MACD:The MACD is showing improvement from lower levels, with the MACD line recovering and the histogram turning positive. This indicates that the negative momentum seen during the earlier decline is losing strength and supports the possibility of a short-term rebound.Open Interest & Volume:Open interest remains below its earlier levels despite the recent price stabilisation. This suggests that the recovery should be monitored for confirmation rather than treated as a fully established trend reversal. Volume remains active around the current support zone.
Gold: Intraday Trading Strategy
• Strategy: Buy on Dips• Buy Zone: Rs 1,50,750• Stop-Loss: Below Rs 1,50,000• Target 1: Rs 1,51,500• Target 2: Rs 1,51,900
Gold Price Outlook :
Gold is attempting to stabilise after the recent correction, with the Rs 1,50,000–Rs 1,50,750 region emerging as an important base. Improving MACD momentum and consolidation near the lower range indicate that a technical recovery can develop if support holds.For the intraday session, buying near Rs 1,50,750 can be considered with risk strictly controlled below Rs 1,50,000. A move above Rs 1,51,150 would strengthen the recovery and could take prices towards Rs 1,51,500–Rs 1,51,900.Overall Bias: Positive above Rs 1,50,000; Buy on Dips near Rs 1,50,750.(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.)
