Gold price prediction today (AI image)

Gold price prediction today: Gold prices are range-bound and highly volatile in the current scenario, says Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities.Gold futures on MCX are trading near ₹1,46,900 after witnessing a sharp decline followed by a recovery bounce. The price action indicates consolidation after a strong directional move, with markets now reacting to global cues. Ongoing geopolitical tensions and uncertainty around the U.S. Fed’s interest rate trajectory are keeping bullion highly sensitive, leading to sharp two-sided moves.Technical SetupPrices are hovering near the short-term EMA cluster, indicating indecision after the recent fall. The EMAs are flattening, suggesting consolidation and lack of a clear directional trend in the immediate term.Bands are wide, reflecting elevated volatility. Price is oscillating between the mid and lower band, indicating that sharp intraday swings may continue within a defined range.RSI is near 50, reflecting neutral momentum. This supports the view of a range-bound market with no strong directional conviction.MACD:MACD is flattening after a negative phase, indicating that bearish momentum has slowed while no strong bullish reversal is confirmed yet.Key Intraday Levels:Resistance Zones: • ₹1,47,500 – ₹1,47,800 (Immediate resistance) • ₹1,49,000 – ₹1,49,500 (Strong supply zone)Support Zones: • ₹1,46,000 – ₹1,45,800 (Immediate support) • ₹1,44,800 – ₹1,44,500 (Key demand zone)Volatility & Market View:Gold is expected to remain highly volatile amid: • Escalating geopolitical tensions driving safe-haven flows • Uncertainty over Fed rate cuts and inflation trajectory • Dollar index and bond yield fluctuationsIntraday movement is likely to remain wide and erratic, with potential spikes on news flow. The broader range for the session is seen between ₹1,45,000 – ₹1,49,000, with sudden breakouts possible on macro triggers.Gold is currently in a consolidation phase within a high-volatility environment, with prices reacting sharply to global developments. Traders should closely monitor key support and resistance levels, as any breakout beyond the defined range could trigger a directional move.Bias: Volatile & Range-BoundRange: ₹1,45,000 – ₹1,49,000(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)