Gold price prediction today: What is the gold price outlook in the coming days? Rs 1,35,000 – 1,36,000 band crucial
Gold price prediction today: Gold prices are well supported and the bias remains on the higher side, says Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial Services Ltd. He shares his views and recommendations for gold investors:Silver continues to outperform gold this year, rising more than 3% last week while gold also surged significantly breaching the $4300 mark. After a sharp rally, silver ended the week with some profit booking, but the broader trend remains firm. Strong industrial demand, safe-haven flows, and tight physical supplies continue to support prices. Investor interest is clearly visible, with silver-backed ETF inflows since the start of this month.On the macro front, US core PCE inflation rose 0.3% m/m while the annual rate eased to 2.8%, in line with expectations, even as labor market indicators point to rising stress. Dovish Fed commentary has lifted the probability of a 25 bps rate cut at this week’s meeting to over 85%, supporting bullion sentiment. Gold remains supported amidst steady US yields, falling dollar index and rupee depreciation however, record high prices are weighing on physical demand, influencing jewellers to offer steep discounts.This week remains crucial for markets as multiple high-impact events line up. Alongside speeches from Fed officials, preliminary manufacturing and services PMI data, US jobs numbers, and CPI inflation prints will be closely watched. Together, these releases could significantly influence rate expectations and trigger heightened volatility across asset classes. As these data points are delayed amidst US shutdown, it is important to look at them through a skeptical lens however these data points could trigger volatility and also provide some clarity.Stance: Buy on DipsGold prices are well supported at last week’s low of ₹1,32,000 any breach below the same could lead to a fall towards the next immediate support of ₹1,30,000. Similarly, resistance band of ₹1,35,000 – 1,36,000 is critical any breach of the same could provide further buying strength in prices. Hence, some dips could be expected continuing last Friday’s fall, however, overall bias remains on the higher side.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)
