MCX Gold Predicted to Reach Rs 1,55,000 Amid Global Uncertainty
The gold price prediction for tomorrow on the MCX is cautiously bullish as it closed at Rs 1,53,893 per 10 grams on 17 August with a 0.46% gain.
Ankit Jaiswal notes that gold needs to hold above Rs 1,52,500 for the gold price prediction for tomorrow to remain bullish. Kunal Singla observes that the premium between near-month and far-month contracts suggests that institutional participants are pricing in continued demand.
The gold price prediction for tomorrow is further supported by global uncertainty, as US University of Michigan consumer sentiment index falling to 51 signals softening US economic confidence, historically supporting gold. The gold price prediction for tomorrow remains bullish as long as MCX Gold holds its Rs 1,52,500 to 1,53,000 support band.