Gold price prediction: What's the outlook for gold rates for this week?
Gold price prediction today: On the upside, Rs 140,500–141,000 is now the first important hurdle, followed by Rs 143,000–144,000. A sustained recovery above Rs 144,000 would be required to meaningfully improve the short-term structure and could open the way towards Rs 146,000–147,000.
Gold prices are expected to trade sideways this week with a slight downward bias, according to Manav Modi, Senior Analyst at Commodity Research. The metal entered the week near Rs 138,500 after a correction in October, trading below the 20-period average of Rs 140,660. Support levels are around Rs 137,400-138,000, with key resistance at Rs 140,500-141,000 and Rs 143,000-144,000.
A break below Rs 137,400 could expose lower support at Rs 132,000-133,000. The outlook for gold depends on several factors, including yield levels, geopolitical risks, and upcoming data releases. While bargain hunting, geopolitical uncertainty, and Chinese demand might provide a floor for prices, elevated yields remain a headwind. Overall, gold's near-term trend is expected to remain neutral to slightly bearish.
Written by urgent.news from Times of India's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 3 other outlets
- India Gold price today: Gold rises, according to FXStreet data fxstreet.com
- Gold rises on softer oil; markets parse Fed signals thehindubusinessline.com
- Gold rises on softer oil; Markets parse Fed signals brecorder.com
