Gold price prediction today: Gold prices have shown a weak trend in the past few days. Where are gold rates headed in the near-term and what should investors of gold do? Here’s the analysis from Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities:Gold prices opened with a significant gap-down in the June 20 session, reflecting prevailing weakness in COMEX Gold, and continue to trade with a bearish tone in domestic markets. The MCX Gold August Futures contract (05AUG2025) is currently quoting near ₹98,722 after touching an intraday low of ₹98,705, indicating persistent selling pressure at higher levels.EMA Resistance Levels: The 8-period EMA is currently placed at ₹99,150, and the 21-period EMA is at ₹99,350. Prices are trading well below both averages, signaling a clear short-term downtrend. Any intraday pullback toward these levels is likely to attract fresh selling,Bollinger Bands: The price action is hugging the lower Bollinger Band, a typical sign of trend continuation in strong bearish momentum. There’s no indication of mean reversion yet, which suggests that rallies may be limited and short-lived.Pivot Points: The previous day’s pivot level near ₹99,200–₹99,350 now acts as a key resistance zone. Failure to reclaim this zone reinforces the bearish outlook.4. RSI (14): The Relative Strength Index is hovering near 32.75, which is close to the oversold region but not yet showing signs of bullish divergence. This supports the argument for further weakness before any meaningful reversal.
