Gold prices have been under pressure, with June futures falling ₹1,300 per 10 grams on Wednesday, extending total losses to over ₹7,000 from recent highs. Analysts suggest that if gold remains below ₹92,000, a further decline to ₹86,000 could be possible.
Technical Analysis & Market Trends
Experts recommend a sell-on-rise strategy, citing easing inflation, global tariff relief, and geopolitical ceasefire signals as key factors influencing the downturn.
- Current MCX Gold Price: ₹92,500 per 10 grams
- Support Level: ₹90,900
- Breakdown Risk: Below ₹92,000, further downside to ₹86,000 possible
Global Factors Impacting Gold Prices
Gold’s decline is attributed to a US-China tariff truce, a fall in inflation, and reduced safe-haven demand. Additionally, the World Gold Council reports net inflows of 115 tons into gold ETFs, the highest monthly rise in over three years.
Market Outlook & Investment Strategy
Analysts suggest that traders should monitor key support levels and adjust positions accordingly. If gold breaches ₹92,000, further downside could be expected, making ₹86,000 a potential target.
For more updates on gold price trends and investment strategies, stay tuned!
