Gold price prediction today: Despite some correction, gold prices are broadly seeing a bullish rise in prices, says Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial Services Ltd.Gold continues to trade in a broader bullish structure despite the sharp corrective phase seen during April. The recent rebound from the ₹139,000–140,000 Fibonacci support zone has shifted momentum back in favor of buyers, with prices now stabilizing above the crucial 0.5 retracement level near ₹150,000. Technically, the market is attempting to build a higher base while holding above the Bollinger Band midline, indicating improving trend strength.The Fibonacci retracement structure highlights ₹154,700–156,500 as the immediate resistance cluster near the 0.618 and 0.786 retracement zones. A sustained breakout above ₹161,500 could trigger fresh upside momentum toward ₹164,000 and eventually the ₹170,000 psychological region. Bollinger Bands are gradually widening again after contraction, suggesting volatility expansion and the possibility of a directional move in the coming sessions.On the downside, ₹155,000 remains the key pivot support for the week, followed by ₹150,000 which aligns with the 50% retracement and previous breakout base. Any close below ₹150,000 may weaken sentiment and expose ₹146,000–142,000 levels again. Candlestick structure currently reflects consolidation after a strong recovery spike, with the market attempting to transition from correction into accumulation. Overall bias remains cautiously bullish while prices sustain above the Bollinger middle band and Fibonacci support region.Gold prices gained at the start of this week as optimism over a potential US-Iran peace agreement weakened the dollar and Treasury yields, boosting precious metals. Hopes of easing Middle East tensions and reopening Strait of Hormuz shipping routes reduced inflation fears linked to higher oil prices. However, uncertainty remains due to ongoing disagreements over Iran’s nuclear program and Fed’s interest rate trajectory with new Fed chair Kevin Warsh taking oath. Markets now await US GDP data and further geopolitical developments, while expectations for at least one Fed rate hike this year continue to support volatility in bullion markets.(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.)
