This weakness can be grateful to make us easier-China trade stress, while more than expected in the US. Jobs lowered the expectations of interest rate reduction by the Federal Reserve.
Low rates are beneficial for non-ironing yellow metal.
Around 1:30 pm this afternoon, August Gust Gust was trading at Rs 96,851 on MCX, which was Rs. 185 or 0.19%is below. Meanwhile, on the Comex, the gold contract was trading at 34 3,348.80 per OUNCE, which increases by 20 or 0.07%.
Technical view
Weekly Technology and Basic Point – MCX Gold (05 Aug Gust 2025 Agreement)
Week Finish: June 7, 2025
Closed Price: Rs. 97,036
Key Support and Resistance:
Gold has turned to the side after a failed breakout attempt above Rs 98,700. The price was rejected near the upper bowler band, making a near-term double top around 98,800-RS 98,900.
A stable base is forming about 96,300 – RS96,500, with a support zone of Rs. 96,300 and main swing resistance Rs. 98,700. The short -term top estimate is Rs. 1,01,000.
Trivedi said that Rs. ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, ,,,, 00 00 – RS can invite the pressure to sell the sale towards 93,500., while Rs. The critical breach of 00 00 00 00 can lead to Rs 1,01,000.
RSI (14): 54.23
Neutral-to-over-bearish prejudice is seen as RSI has cooled with previous S plain and now it is to move near the midline at 54am, reducing the bullish motion. It indicates consolidation, it is neither overshadow nor oversold. The downside downside may confirm the weakness of the 50 below.
Bollinger Bands:
Consolidation with resistance to the upper price band. The price was rejected on the upper bowler band. Now, the expansion of Rs 96,800 can open.
Moving Average: Price is struggling around support
- EMA 8 (red): Rs. 97,300
- EMA 21 (yellow): Rs. 96,400
The price is sliding below EMA 8, which shows short -term weakness, while EMA 21 continues to support. The closer to the bottom of the 96,400 will be the structural negative, which will favor the bearish trend shift.
MACD: Flat Speed with Dilin Bullishness
- MACD Line: 727.68
- Signal Line: 657.42 → Still Bullish
- Histogram: 70.25 → slightly weak
When MACD remains positive, the histogram reflects the decreasing boom speed. The bearish crossover has not yet been confirmed but the pressure pressure continues.
Trading Strategy: Sell on rise with tight stop loss
Gold is currently in the field of waiting and watching with a mild bearish tilt. Based on the termination of Rs. Until 98,700 breaches, the pressure to sell rallies is expected to face. The break below Rs 96,400 can accelerate the loss of Rs 94,800.
- Sell on rise: Rs. 97,600 – RS 98,000
Stop loss: Rs. 98,700 (on a closed basis)
Goals: Rs. 96,300 → Rs. 94,800
While gold is expected to remain rangebound in the near term, its direction will depend on tariff negotiations between the US, China and other major global players.
On the domestic front, investors should monitor the rupee movement – weak INR against USD will support domestic gold prices.
(Disclaimer: The views given by recommendations, suggestions, opinions and experts are their own. This does not represent the views of the economic time)
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