Gold price prediction: What’s the outlook for October 24, 2025? Why ‘sell on rise’ makes sense
Gold prices are likely to trade in a narrow range with a neutral to bearish bias, says Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities.
Here is his strategy for gold investors:
Gold prices witnessed a subdued move in early trading, hovering near ₹1,23,500 levels after facing resistance around the upper Bollinger Band.The price structure indicates consolidation within a narrow range as market participants await fresh triggers.The 8 EMA has flattened and is converging towards the 21 EMA, hinting at a loss of short-term momentum, while prices are currently holding marginally above the previous day’s pivot zone near ₹1,23,400 — acting as a key intraday support.RSI has slipped to around 39, reflecting weakening momentum and suggesting that the bulls are losing grip after recent gains.
MACD has turned neutral, indicating a phase of sideways to mild corrective movement.
Bollinger Bands are contracting, signaling reduced volatility and a potential breakout setup in the upcoming sessions.On the higher side, resistance is placed at ₹1,24,050 followed by ₹1,24,650, where sustained buying could revive bullish momentum.
Conversely, immediate support lies near ₹1,23,150; a break below this level may open further downside towards ₹1,22,950–₹1,22,700 levels.Overall, the intraday bias remains neutral to mildly bearish unless the price sustains above ₹1,24,000.
Traders are advised to adopt a cautious approach, preferring a sell on rise strategy near ₹1,23,900 SL 124650 Target 123000, while keeping a close watch on global cues and dollar movements for directional clarity.(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own.
These opinions do not represent the views of The Times of India)
