Gold Price Prediction Today: Spot Gold Slips As Dollar Surges, Why MCX Gold Traders Are Still Buying On Dips?

Gold prices are sending mixed signals across global and domestic markets as traders navigate a shifting macro landscape. Spot Gold is under near-term pressure due to a stronger US dollar and rising Treasury yields, but MCX Gold continues to show a strong bullish structure on the daily and weekly charts, backed by good momentum and well defined support zones. Due to better-than-expected US economic data that has strengthened expectations that the Federal Reserve would keep interest rates on hold for the coming months, Spot Gold is trading with a negative bias on the international scene. Meanwhile, MCX Gold continues to be comparatively strong thanks to persistent buying demand and a distinct upward trend.

MCX Gold Outlook Today

"On the technical front, MCX Gold continues to remain in an uptrend on both the daily and weekly charts. The structure is bullish, and momentum remains strong. However, there are no signs of any major weakness on the daily chart. Currently, support is placed at 142,150, while resistance is seen at 144,350 and 147,600. Traders can buy MCX Gold at the current market price and on dips towards 142,150 for a target of 144,350-147,600. Any sustained weakness below 140,200 should be considered as a stop-loss for the current view," commented Abhishek M Pelu - Research Analyst at Way2Wealth Brokers.

MCX Silver Outlook Today

"MCX Silver March is expected to slip towards ₹277,000 level as long as it stays below ₹293,000 level," commented the technical research analysts of ICICI Securities.

Spot Gold Outlook Today

"Spot Gold is likely to trade with the negative bias and slip further towards $4550 level on strong dollar and rise in US treasury yields. Further, better than expected economic data from US cemented expectations that US Federal Reserve will keep rates on hold for the next several months. Moreover, improving labor data and hawkish comments from Fed officials have pushed back expectations for next rate cut to June," commented the research analysts of ICICI Securities.

"Additionally, demand for safe haven may ease as US President Donald Trump said he has no plans to fire Fed Chair Powell and signs of easing tension between US and Iran. Meanwhile, strong central bank buying would support prices. Poland's central bank governor Adam said wants to raise its reserves to 700 tons which is currently 550 tons," they further added.

Gold & Silver Price Fundamental Outlook Today

"Gold and silver prices are trading slightly lower today on the international bourses. We expect precious metals prices on Indian bourses to trade range-bound to slightly lower for the day; as silver prices dropped on Friday after the US refrained from putting import tariffs on critical minerals, but were still up 15% for the week on surging demand for precious metals. The threat of levies on minerals including silver and platinum had been one among several drivers of a breakneck rally, but US President Donald Trump stopped short of imposing the duties, while not ruling out doing so in future," stated the research analysts of Nirmal Bang Securities.

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