Gold Price Prediction: In the Indian bullion market, gold prices have been steadily rising for the past few days. However, the decline in gold and silver prices in February has brought considerable relief to people. The continuous price increases had also led to a decline in jewellers’ sales, causing disappointment among customers. With the wedding season underway, it’s important to know whether gold prices will rise or fall in the coming days. Some bullion market experts have shared their gold price predictions, which you can find below.

Gold Price Forecast

According to Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial Services Limited, fluctuations in gold prices can be expected in the coming days. He also shared his views and suggestions for gold investors, highlighting key levels to watch in the near future.

Meanwhile, after a sharp correction from record highs, gold and silver weakened significantly this week. This was due to a surge in the US dollar and changing expectations regarding US monetary policy, which led to significant profit-taking. According to reports, the Trump administration’s nomination of Kevin Warsh forced markets to reassess rate-cut expectations, and profit-taking in ETFs and speculative trading also put pressure on prices.

A Supportive Environment for Bullion Due to Long-Term Policy Support

It’s encouraging to note that the broader environment of fiscal stress, geopolitical uncertainty, and long-term policy support has been beneficial for bullion. The rally’s recent scale has made prices vulnerable to a significant correction. Domestically, there were no surprises for precious metals in the Union Budget.

This kept the policy neutral. Now, the focus is on the RBI’s decision, US jobs data, and PMI releases, which will be crucial in determining whether the correction stabilises or extends further. Technically, the trend remains positive. How have the chart’s behaviour and structure changed?

For your information, RMS has altered the behaviour and structure of the sales and profit booking chart. The price is significantly outside the Bollinger Bands. It is also below a crucial support zone. Important indicators, such as the RSI, are near previous levels amid the price decline, suggesting some recovery is possible. The main support zone is near ₹125,000, while the short-term support is at ₹132,000 on the upside.