MCX Gold Futures – Intraday Analysis for 7th Oct 2025

GOLD2!

Gold is trading at 121,603, consolidating just above the zero line (121,583), after a breakout above resistance, followed by mild profit-taking. This is a key inflection zone for either a momentum extension or a retracement.

Bullish Scenario
Long Entry (121,321):

Initiate fresh longs above 121,321, confirming buyers supporting every dip at trend breakout levels.

Additional exposure can be taken at 121,145 (add-long area) if minor dips are absorbed, marking higher lows.

Upside Targets:

122,504 (Target 1): First mapped supply zone and profit booking area.

123,073 (Target 2): Extended bullish target if strong momentum continues.

Stop Loss:

Place below 120,969 (short entry) or progressively trail as price moves up.

Bearish Scenario
Short Entry (120,969):

Shorts trigger below 120,969, marking breakdown of support and handed control back to sellers.

Downside Targets:

120,662 (Target 1): Demand zone and first logical bounce/support area.

120,093 (Target 2): Next extension target for aggressive move.

Stop Loss:

Cover shorts if price retakes 121,321 to avoid losses on failed breakdowns.

Range/Neutral Logic
Zero Line (121,583):

Price at zero line marks market balance; sustained action above encourages further momentum, while repeated rejection here raises risk of short-term pullback to lower supports.

Avoid new trades around zero line unless breakout/breakdown conviction emerges.