Price prediction: Will gold prices continue to be volatile? Check outlook for this week

Gold terms prediction today: Gold prices volition intimately way movements connected the complaint decisions by respective cardinal banks, including the US Federal Reserve, this week, says Manav Modi, Senior Analyst, Commodity Research astatine Motilal Oswal Financial Services Ltd.Gold is presently consolidating aft crisp swings successful a wide range, indicating a intermission alternatively than a reversal. Price enactment shows a higher-high operation intact, but the caller sideways question suggests indecision adjacent the precocious proviso portion astir 158,000–160,000. The enactment resembles a short-term flag/triangle continuation pattern, wherever a breakout connected either broadside volition specify the adjacent directional move.

Volume has tapered slightly, reinforcing the consolidation narrative.Gold prices precocious moved from the precocious set toward the mid-band (20 DMA), and are present attempting to stabilize. The bands person started to contract, signaling a imaginable volatility enlargement ahead. Sustaining supra the mid-band (~150,500–151,000 zone) keeps bullish bias intact, portion a breakdown beneath this could trigger a deeper mean reversion toward the little band.

For the week, contiguous enactment for golden prices is placed astatine astir Rs 150,500, which is followed by stronger enactment adjacent Rs 148,500. On the upside, the absorption stands astatine astir Rs 155,500, and aft that the cardinal proviso portion is astatine Rs 158,000. A decisive adjacent for golden supra Rs 158,000 levels tin past resume the broader uptrend. However, a interruption successful golden prices beneath levels of Rs 148,500 whitethorn displacement the momentum to bearish successful the adjacent term.The economical docket is filled with information points and events this week arsenic the absorption volition beryllium connected FED, BOJ, ECB and ECB argumentation meetings. US user confidence, GDP, ostentation and durable goods orders information volition besides beryllium successful radar.(Disclaimer: Recommendations and views connected the banal market, different plus classes oregon idiosyncratic concern absorption tips fixed by experts are their own. These opinions bash not correspond the views of The Times of India)