Technically, gold is approaching an important support cluster between ₹153,500 and ₹154,500. (AI image)

Gold price prediction today: Gold prices continue to be volatile amid geopolitical developments, says Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial Services Ltd.Gold prices remained under pressure during the week, extending their corrective phase after failing to sustain above the ₹156,000–158,000 resistance region. On the daily timeframe, the market has slipped below the Bollinger Band midline below ₹160,700, indicating a loss of short-term momentum and a shift toward a weaker technical structure. Recent decline toward the lower Bollinger Band around ₹154,700 suggests that sellers continue to dominate near higher levels, while buyers are becoming increasingly defensive.Technically, gold is approaching an important support cluster between ₹153,500 and ₹154,500. A sustained close below this region could accelerate downside momentum toward ₹151,000 and potentially ₹148,000 in the coming sessions. Bollinger Bands have started to widen again following a period of consolidation, signaling an increase in volatility and the possibility of a stronger directional move ahead.On upside, immediate resistance is seen at ₹154,700, followed by Bollinger mid-band near ₹160,700. A recovery above mid-band would be required to improve sentiment and re-establish bullish momentum toward ₹163,500–166,500. Candlestick structure currently reflects a sequence of lower highs following the recent peak, highlighting persistent selling pressure. Overall, the near-term bias remains cautiously bearish while prices trade below the Bollinger middle band, with market participants closely watching whether support near ₹154,000 can hold during the week ahead.Stronger-than-expected US employment data reinforced expectations of a hawkish Federal Reserve. The US added 172,000 jobs in May, while unemployment remained steady at 4.3%, boosting the US dollar and Treasury yields as markets increased bets on future rate hikes. Geopolitical uncertainty also persisted after Hezbollah rejected the Israel-Lebanon ceasefire, complicating broader US-Iran negotiations. With energy prices remaining elevated and inflation risks lingering, market focus now shifts to upcoming US CPI and PPI data for further direction.(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.)