Gold Prices Set for Volatile Ride: Expert Warns of Rangebound Trend
Gold Prices Set for Volatile Ride: Expert Warns of Rangebound Trend
Gold markets stay choppy with expert forecasts of continued volatility and key price levels for investors to watch.
Gold prices are expected to stay volatile and largely range-bound in the near term, according to a senior analyst at a leading financial services firm. He says traders should brace for continued fluctuations as markets digest global cues and inflation outlooks. Investors are advised to monitor key support and resistance levels to navigate the coming weeks.
In metro markets, gold rates hovered around ₹1,60,570 per 10 grams, with Mumbai showing prices in that vicinity and Chennai recording the highest rate for 24-carat gold. The fluctuating backdrop has kept buyers and sellers cautious as sentiment swings with every global data point.
On the commodities side, silver has seen sharper declines. Over the last two sessions, silver declined by a cumulative ₹1,34,241, translating into a fall of 33.6%. On a weekly basis, the metal has dropped by nearly 21%, or ₹69,047, from its level of ₹3,34,699 per kg recorded on January 23. Such outsized moves in precious metals are fueling calls for careful trading and risk management.
Analysts emphasize that while the near term could bring brief rallies, the broader trend remains unsettled. Investors should stay alert for any shift in global cues, central bank signals, and domestic demand factors, and adapt strategies accordingly.
