Gold Market Overview

Gold prices have shown significant volatility recently, influenced by geopolitical uncertainties. The MCX Gold June 2025 contract is currently exhibiting bearish technical patterns, suggesting potential sell opportunities for traders.

Technical Analysis

Current price stands at ₹93239, with key indicators such as Bollinger Bands and RSI pointing towards a possible reversal. The formation of a bearish engulfing pattern near recent highs indicates increasing selling pressure.

Investment Strategy

Sell-on-Rise Strategy: Traders are advised to look for bearish candlestick patterns within the sell zones of ₹93350-93450 and ₹93650-93750, with strict stop loss measures.

Breakdown Strategy: A decisive break below ₹93100 could signal further downside, with targets set at ₹92850 and below.

Market Outlook

Gold is currently vulnerable to further declines, with significant resistance at ₹93500-₹94000 levels. The bearish trend is supported by lower highs on the daily timeframe and failure to reclaim the 21-day EMA.

Risk Factors

Potential risks include unexpected dollar weakness, geopolitical developments, and surprises in inflation data, which could impact gold prices.