Latest news with #GoldOctoberFutures
Time of India
5 days ago
- Business
- Time of India
Gold price prediction today: What's the gold rate outlook for August 8, 2025 as it sustains above RS 1 lakh mark; why a 'buy on dips' strategy makes sense?
Gold price prediction: Market structure and momentum indicators favor a Buy on Dips approach. (AI image) Gold price prediction today: Gold rates are moving upwards as demand for safe haven assets stays in focus. Where are gold prices headed and what should investors do? Here's the analysis from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities: Gold October Futures on MCX extended their upward momentum in early trade, supported by strong buying interest and a technical breakout above key short-term resistance levels. The contract is currently trading around ₹1,01,930 after hitting an intraday high near ₹1,02,300. Market structure and momentum indicators favor a Buy on Dips approach, with ideal entry opportunities near ₹1,01,500 and a stop-loss at ₹1,00,800. Gold Technical Setup Overview: 1. EMA Alignment – Short-Term Bullish Bias: The 8-period EMA (₹1,01,900) has crossed above the 21-period EMA (₹1,01,500), signalling bullish momentum. Price action is holding above both averages, suggesting that pullbacks to the ₹1,01,500 zone are likely to attract fresh buying. 2. Bollinger Bands – Expansion Phase: Price is trading near the upper band after a volatility expansion, indicating strong upside momentum. While short-term consolidation is possible, the broader bias remains positive unless the middle band (near ₹1,01,500) is breached decisively. 3. Pivot Point & Support Zones: Yesterday's pivot levels place strong support around ₹1,01,500, which also aligns with EMA 21 and a previous breakout zone. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 3, 3.5 & 4 BHK Apartments Near HITEC City from ₹1.65 Cr Honer Signatis Book Now Undo This confluence makes it a key demand area for intraday traders. 4. Momentum Indicators – RSI & MACD: • RSI is holding comfortably above the 60 level, showing strength but not yet in extreme overbought territory. • MACD is in positive crossover territory, supporting continuation of the upward trend. 5. Volume & Open Interest: A surge in volume during the breakout rally indicates strong participation from buyers. Open interest remains steady, hinting that positions are being built rather than liquidated. Intraday Trade View: • Strategy: Buy on Dips • Entry Zone: ₹1,01,500–₹1,01,550 • Stop-Loss: ₹1,00,800 • Upside Targets: ₹1,02,300 followed by ₹1,02,800 if momentum sustains • Bias: Bullish until price closes below ₹1,01,500 on the 30-minute chart Conclusion: The confluence of EMA support, positive momentum indicators, and strong volume-backed breakout suggests that gold remains in an intraday uptrend. Traders may look to accumulate on dips towards ₹1,01,500, keeping a tight risk management framework. A sustained move above ₹1,02,300 could open the gates for further upside in the short term. Stay informed with the latest business news, updates on bank holidays and public holidays .
Time of India
01-08-2025
- Business
- Time of India
Gold price prediction today: What's the gold rate outlook for August 1, 2025; why a 'sell on rise' strategy makes sense?
Gold price prediction: Gold futures remain under pressure as the MCX Gold October Futures contract struggles to recover from recent declines. (AI image) Gold price prediction today: Gold rates continue to hover in a range as news on Donald Trump's trade policies flows in. Where are gold prices headed and what should investors do? Here's the analysis from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities: Gold futures remain under pressure as the MCX Gold October Futures contract struggles to recover from recent declines. After a brief pullback from the intraday lows, prices are currently hovering around ₹98,778, with key technical indicators pointing to a weak rebound lacking bullish momentum. In light of the current setup, traders are advised to adopt a Sell on Rise strategy near ₹99,000, with a stop-loss at ₹99,450. Technical Setup Overview: EMA Resistance Cluster: The 8-period EMA is at ₹98,765, and the 21-period EMA is at ₹98,800. Price is trying to reclaim these levels but is struggling to close decisively above either, indicating hesitation and overhead resistance. A failure to sustain above ₹99,000 would confirm bearish control. Bearish Price Structure: A clear lower-high lower-low formation dominates the 15-minute chart. The attempt to bounce back from the ₹98,600–₹98,700 zone is facing headwinds from the declining short-term moving averages. Selling interest is visible on every upward tick. Volume and Open Interest: Despite a modest bounce, volume remains uneven and not supportive of a bullish reversal. Open interest trends also suggest caution, with no aggressive long buildup detected. This favors the view of a corrective pullback rather than a trend change. Pivot Point & Supply Zone: The previous day's pivot and price action suggest that the ₹99,000–₹99,200 range remains a critical resistance zone. The multiple failed attempts to hold above this level make it an ideal sell zone for intraday setups. Momentum Indicators – RSI & MACD: • The RSI is approaching the 50–52 zone but has not broken above convincingly, implying weak upside momentum. • While the MACD is not visible in the chart, the price structure suggests a shallow or weak crossover at best, lacking strength to confirm bullish continuation. Conclusion: Given the confluence of resistance around ₹99,000, lack of follow-through volume, and weak momentum, traders may consider a Sell on Rise strategy in the range of ₹99,000–₹99,100, maintaining a stop-loss at ₹99,450. Downside targets include ₹98,550, followed by ₹98,200 if selling intensifies. Until the price decisively breaks and sustains above the 21 EMA with supportive volume, the trend remains vulnerable to further declines. Stay informed with the latest business news, updates on bank holidays and public holidays . Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025
