Traders may prefer a buy-on-dips approach above ₹1,20,700 with a stop below ₹1,20,500. (AI image)

Gold price prediction today: Gold prices will likely trade in a range with a neutral bias, says Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities. Here is his strategy for gold investors:Gold prices traded in a narrow band around ₹1,21,180 as intraday sentiment remained subdued following recent volatility. The price action shows consolidation below the resistance zone of ₹1,22,400, with traders awaiting decisive cues for directional clarity.The short-term moving averages — 8 EMA and 21 EMA — are converging, indicating reduced momentum and lack of follow-through buying after the recent recovery. The RSI currently hovers near 51, suggesting a neutral momentum bias, while the MACD has turned flat with histogram readings showing minor positive divergence, hinting that buyers are attempting to defend key support levels near ₹1,20,750. Price movement continues to stay within the mid-Bollinger range, reflecting equilibrium between bulls and bears. From a pivot perspective, support lies at ₹1,20,750 and ₹1,19,970, while resistance is seen at ₹1,22,450 and ₹1,23,590. A break above ₹1,22,450 could open the path toward ₹1,23,500, whereas a drop below ₹1,20,750 may lead to mild downside pressure toward ₹1,19,900 levels.Overall, Gold’s intraday setup remains range-bound with a neutral bias, as participants weigh upcoming macro data and U.S. dollar strength for short-term triggers. Traders may prefer a buy-on-dips approach above ₹1,20,700 with a stop below ₹1,20,500, targeting ₹1,22,000–₹1,22,400 levels until a decisive breakout is seen.Bias: Neutral to mildly bullish Range: ₹1,20,700 – ₹1,22,450 SL for Long position 1,20,000.(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)