Gold Petal Futures on the 2-hour MCX chart have witnessed a sharp and decisive fall after moving sideways for several sessions. The strong support level at ₹9,902 has been clearly broken, triggering a wave of panic selling. Price has now dropped close to ₹9,747, which is acting as the next support zone. The breakdown is backed by strong red candles, showing heavy bearish momentum. Unless the price bounces back above ₹9,902 soon, sellers are likely to dominate with ₹9,700 as the next target.
This fall is supported by changing fundamentals. Geopolitical fears around the Iran-Israel situation have eased, reducing safe-haven demand for gold. At the same time, the U.S. dollar has strengthened after the Federal Reserve hinted at keeping interest rates high, making gold less attractive globally. A stronger Indian rupee and possible profit-booking before the quarter-end are also putting downward pressure on prices. Unless fresh tensions or inflation triggers emerge, gold may remain weak in the short term.
For investors with a medium- to long-term horizon, this pullback could be a favorable entry point to accumulate at lower levels, especially if fresh global risks or inflationary pressures resurface. Patience and staggered buying near support zones could prove rewarding.
This fall is supported by changing fundamentals. Geopolitical fears around the Iran-Israel situation have eased, reducing safe-haven demand for gold. At the same time, the U.S. dollar has strengthened after the Federal Reserve hinted at keeping interest rates high, making gold less attractive globally. A stronger Indian rupee and possible profit-booking before the quarter-end are also putting downward pressure on prices. Unless fresh tensions or inflation triggers emerge, gold may remain weak in the short term.
For investors with a medium- to long-term horizon, this pullback could be a favorable entry point to accumulate at lower levels, especially if fresh global risks or inflationary pressures resurface. Patience and staggered buying near support zones could prove rewarding.
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Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.