Gold price prediction today: Gold prices may retest the recent support zone of ₹137,000 and ₹138,000, and dips should be utilized to accumulate gold, says Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial Services Ltd. He shares his views and recommendations for gold investors and key levels to watch out for in the near term:Gold prices remain firm, hovering near the $4,500 level on COMEX. Meanwhile, silver continues its strong upward momentum, supported by tight supply conditions, robust industrial demand, and broader market uncertainties. Recent US economic data indicated easing inflation and softer labor market conditions, strengthening expectations of multiple rate cuts next year, even as GDP growth surprised on the upside.Gold prices are gradually trending higher, consistent with their typical behaviour, and have registered a record high of ₹140,000 following a consolidation breakout from the ₹135,000 level last week. The broader technical structure continues to favor a buy-on-dips strategy, preferably through staggered investments.There remains a possibility of prices re-testing the recent support zone between ₹137,000 and ₹138,000. After the breakout, prices have been holding near the upper Bollinger Band, indicating sustained buying interest, with the mid-band around ₹135,000 acting as an immediate stop. Any pullbacks may be used for accumulation, while a decisive move above ₹140,000 could open the way toward targets of ₹143,000–₹145,000.It is a holiday-shortened week due to the New Year, though a few key events are lined up. Focus will be on US industrial production, housing numbers and FOMC meeting minutes.(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)
