Gold Outlook: According to Geojit Group, Gold prices are expected to remain supported due to steady central bank buying, strong ETF inflows, and geopolitical tensions in the Middle East, according to Geojit Financial Services. However, a stronger U.S. dollar and uncertainty around future U.S. monetary policy may cap short-term gains, keeping prices largely range-bound in the near term. Technically, bullish MACD signals indicate positive sentiment, but overbought RSI levels suggest possible profit-taking and volatility. Geojit Group’s analysts expect gold to trade between USD 4,650– USD 5,595 in the London spot market and Rs 1,41,800–Rs 1,81,000 on MCX, with the overall outlook remaining positive in the medium and long term despite short-term fluctuations.
Gold Outlook: Fundamentals
In its outlook, Geojit Group’s analysts said that consistent buying by global central banks and increasing investor interest through exchange-traded funds continue to provide a strong foundation for gold prices. At the same time, geopolitical tensions in the Middle East are adding an additional safe-haven premium to the precious metal.
Despite these supportive factors, the firm highlighted that a sharp rebound in the U.S. dollar and speculation around a potential shift in monetary policy under the new Federal Reserve leadership have tempered recent gains in bullion.
Once the current phase of volatility subsides, the market is expected to refocus on long-term demand drivers, which could support prices over a longer horizon.
Gold Outlook: Technicals
From a technical perspective, Geojit Group’s analysts noted that the MACD bullish divergence indicates positive sentiment in the gold market. However, the Relative Strength Index (RSI) has entered overbought territory, suggesting the possibility of profit-taking and short-term liquidation.
Because of this mixed signal, gold prices may remain range-bound in the short term, with occasional spikes in volatility.
For the London Spot market, analysts warned that a sustained break below the $4,880 support zone could signal growing downside risks.
In the domestic market, the brokerage said that maintaining the current upward momentum would require strong volume-driven trades above ₹1,70,000 on MCX.
On the downside, a fall below the ₹1,57,000 pivot level could increase the likelihood of further selling pressure.
Gold Outlook: Key Technical Levels
For London Spot Gold, the Geojit Group’s projected trading range stands between $4,650 and $5,595.
London Gold Spot Resistance
- Pivot: $4,880
- Resistance 3: $5,595
- Resistance 2: $5,400
- Resistance 1: $5,240
London Gold Spot Support
- Pivot: $4,880
- Support 1: $4,650
- Support 2: $4,400
- Support 3: $4,250
For MCX Gold (April contract), the expected trading range according to Geojit Group is ₹1,41,800 – ₹1,81,000 per kg.
MCX Gold Resistance
- Pivot: ₹1,57,000
- Resistance 3: ₹2,00,000
- Resistance 2: ₹1,81,000
- Resistance 1: ₹1,70,000
MCX Gold Support
- Pivot: ₹1,57,000
- Support 1: ₹1,41,800
- Support 2: ₹1,34,000
- Support 3: ₹1,17,900
Gold Outlook: FAQs
1. What is the latest gold outlook according to Geojit?
According to Geojit Financial Services, gold prices are likely to remain supported due to strong central bank buying, ETF inflows, and geopolitical tensions, although short-term volatility may keep prices range-bound.
2. What is the expected trading range for London spot gold?
Geojit expects London spot gold to trade within the $4,650–$5,595 range based on its current technical outlook.
3. What is the projected range for MCX gold futures?
For the April MCX gold contract, the expected trading range is ₹1,41,800–₹1,81,000 per kg.
4. What key level could signal downside risk in the gold market?
A sustained break below the $4,880 support level in London spot gold or ₹1,57,000 on MCX could increase the risk of further downside pressure.
5. What is the long-term outlook for gold prices?
Despite near-term volatility, Geojit maintains a positive medium-term (3 months–1 year) and long-term (above 1 year) outlook for gold prices.
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