Gold Prices Rebound on Indian Exchanges: Buy-on-Dips Strategy Favored

Gold prices are showing signs of recovery on Indian exchanges after a sharp decline in previous sessions.

Jateen Trivedi, VP Research Analyst at LKP Securities, notes that gold's intraday structure has turned constructive and is favouring a buy-on-dips strategy near Rs 1,52,400.

The MCX Gold October futures have rebounded strongly from the Rs 1,50,000-Rs 1,50,500 region and are currently consolidating around Rs 1,52,650-Rs 1,52,700.

Trivedi suggests holding above Rs 1,52,400 to sustain the recovery intact, with a potential move towards Rs 1,53,200 if prices break above Rs 1,52,700-Rs 1,53,000.