Gold price prediction today: Gold prices will likely be range-bound in the coming days, says Divya Mandaliya, Commodity Research Analyst, Anand Rathi Share and Stock Brokers Limited.Gold’s price action over the past week highlights a market increasingly driven by liquidity conditions rather than its traditional safe-haven appeal. Escalating geopolitical tensions in the Middle East particularly around Iran and the Strait of Hormuz initially pushed bullion higher, with prices rising over 4% early in the week. However, the move proved short-lived, with gold reversing course at the start of this week (April 6) and stabilizing near $4,630/oz.The muted response to rising geopolitical risk is notable. Despite escalation rhetoric from Donald Trump, including explicit deadlines and threats to critical infrastructure, gold has struggled to attract sustained inflows. Instead, tighter liquidity and broader market stress have triggered intermittent selling, as investors raise cash and meet margin calls diluting its traditional defensive role.Macro factors remain the dominant driver. Elevated US Treasury yields and a firm dollar continue to reinforce a “higher-for-longer” rate environment, capping upside in bullion. Meanwhile, oil prices above $110/bbl are sustaining inflation expectations, creating a backdrop where gold retains structural support but faces near-term constraints.Positioning indicators are mixed but showing early signs of stabilization. Gold-backed ETFs have recorded their first weekly inflow since the onset of the conflict, pointing to selective dip-buying at lower levels. However, this has yet to evolve into a broader or sustained trend.
Gold Price Outlook
Gold is expected to remain range-bound in the near term, with direction largely driven by the interplay between geopolitics and rate expectations. Easing tensions and softer oil could revive rate-cut hopes, supporting prices, while persistent risks and elevated oil may keep rates higher for longer, capping gains.Despite ongoing volatility, downside appears limited. Structural factors such as geopolitical uncertainty, sticky inflation, and steady central bank demand should provide a floor, even as macro headwinds restrain a sustained breakout.Technical View:Gold: Gold sell-on-rise within the range; only a sustained break above $4,800 can revive upside toward $5,000. Gold remains in a broad consolidation phase following the recent correction from highs. Immediate support at $4,550–4,500 per ounce, while resistance near at $4,750-4,800.Silver: Silver sell-on-rise bias within the range, with volatility likely to remain elevated. Silver is underperforming gold and continues to trade in a consolidation phase with a slight downside bias for this week. Immediate support at $69-70 per ounce, while resistance at $74–76. A sustained move above $76 is needed to improve the near-term outlook.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)
