Gold price prediction today: Gold prices are exhibiting weakness, says Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities. Here recommends a sell on rise strategy for investors:Gold futures on MCX traded near ₹1,30,000, showing signs of weakness after failing to sustain above the immediate resistance zone. Price action suggests that momentum is tilting in favor of sellers as the short-term averages flatten and oscillators indicate a lack of bullish conviction. The technical setup supports a sell-on-rise strategy near ₹1,30,400, with a stop-loss at ₹1,31,500 and potential downside targets around ₹1,29,000.Gold Technical Setup:Moving Averages (EMA 8 & EMA 21): The 8 EMA has flattened and is trending close to the 21 EMA, signaling loss of momentum and indecision in the short term. A failure to reclaim the ₹1,30,750–₹1,31,000 region will likely keep the bias negative for the session.Gold prices have slipped below the mid-bollinger band, confirming a shift to mild bearishness. The lower Bollinger band near ₹1,29,200 could act as the next support if selling pressure intensifies.• Resistance Levels: ₹1,30,750 – ₹1,31,130 – ₹1,31,500• Support Levels: ₹1,29,800 – ₹1,29,300 – ₹1,29,000Repeated rejection near the upper pivots suggests a short-term top formation, strengthening the case for a downside move.The RSI is currently at 50.3, showing neutral momentum but with no signs of strength, implying limited upside potential and scope for corrective pressure.The MACD remains below the signal line, reflecting continued bearish sentiment. The histogram shows weak buying pressure, indicating that any bounce may remain short-lived.Gold Intraday View:• Strategy: Sell on rise• Entry Zone: ₹1,30,400 – ₹1,30,450• Stop-Loss: ₹1,31,500• Targets: ₹1,29,300 and ₹1,29,000• Bias: Bearish below ₹1,30,750; sustained trade below ₹1,29,800 could accelerate downside momentum.Conclusion:Gold’s intraday structure remains weak with flattening EMAs, a neutral RSI, and a bearish MACD crossover. The repeated rejection near upper resistance reinforces a short-term bearish bias. Traders are advised to adopt a sell-on-rise strategy near ₹1,30,400, keeping a strict stop-loss at ₹1,31,500 and targeting ₹1,29,000. Sustained weakness below ₹1,29,800 could open further downside potential toward ₹1,28,800.(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)
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