Gold Price Prediction: Experts Suggest 'Buy on Dips' Strategy

The price of gold is showing signs of recovery and experts believe it's a good time to buy on dips. According to Jateen Trivedi, VP Research Analyst at LKP Securities, the technical outlook for gold appears constructive.

Gold is currently trading around Rs 1,55,250 on the MCX, with a short-term moving average alignment that suggests buying interest remains intact. The recent consolidation near Rs 1,55,000-Rs 1,55,200 indicates that prices are absorbing supply at higher levels.

The Bollinger Band structure is also supporting the recovery, with gold trading in the upper half of the band. The RSI (14) is around 56, indicating positive but not overheated momentum, and the MACD structure is supportive of the recovery.