Prophecy for gold price: Will gold prices fall by Rs 88,000 per 10 grams? Experts see negative side, what investors should do here

Gold Price Outlook: Gold prices have declined sufficient, which has fallen by about 7% from the highest point of Rs 99,358/10 grams recorded on MCX on 22 April. Precious metal is currently the risk of ending below the 50-day moving average, nothing has been observed since December.But where is the price of gold and if investors fall to Rs 88,000 per 10 grams, then what should be done?According to Axis Securities, gold is currently testing the bottom limit of the 50-day moving average envelope (+3%), which has provided support during all decrease since November 2024.The firm has identified May 16 as a significant period for possible trend changes on 16 May. According to the ET report, their analysis indicated $ 3,136 as an essential support level in international markets as an essential support level, suggesting that if prices fall below this point, they could potentially fall towards $ 2,875- $ 2,950 range.Also read 1 lakh rupees after gold prices, is it a rally time for silver?Axis Securities has observed that gold prices are demonstrating pressure between significant macro changes, if prices fall below a significant support level, increase concerns about potential declines.The firm has mentioned that the reduction in expectations for cutting the US federal reserve rate has affected the demand for safe investment like gold. Additionally, less concerns about the impacts of trade-war on development have increased the yield of bonds, reducing the attraction of gold.The firm reported that the lack of gold yield, combined with an increase in interest rates, is reducing its appeal as an investment option.

Will gold prices decrease by Rs 88,000?

Reneeha Chanani, head of the research of Agamont, believes that gold prices are facing significant pressure due to the ongoing geopolitical issues and reducing market demand.According to his analysis, “Gold prices fell by about $ 100 (Rs 1,500) due to their intraday offering as investors were returning to safe-heaven assets due to the recession in the pace of discussions between Russia and Ukraine and the minimum-covered American data.”He identified possible opportunities for investors during this period of market pressure.He added, “As gold prices have broken the double-top neckline support of $ 3200, expecting $ 3000-50 (Rs 87,000-88,000) in the short term,” suggests that current trends look negative, may have opportunities for long-term investors at low price points.Analysis from Augmont indicates sufficient negative risk in the technical evaluation of gold. His report has established support for resistance for Indian gold for Rs 92,000/10 grams and Rs 94,000/10 grams. Despite this limited trading range, the overall market spirit suggests a decrease in further price.Also read India has the 7th largest gold reserves in the world! Why is RBI buying gold and how does it help the Indian economy?Prithviraj Kothari, managing director of Riddisiddhi Bullions, expresses a minor positive attitude, given that the fundamental strength of gold remains stable despite the current market adjustment.He said, “While the long-term basic things of gold are fundamentally intact, a short-term view of its price trajectory is unsafe for macroeconomic C changes. Investors still need to be particularly attentive that the value plays globally with a diverse strategy in a negative tail position,” he said.Kothari has warned of the possibility of significant value adjustment that economic reforms worldwide must exceed current estimates.“Nevertheless, a stable improvement can also occur on the horizon. If global economies start looking at rapid recovery, the gold can slip down to $ 3000- $ 3050 range, indicating the end of the need of risk-stop trades,” he said.(Disclaimer: Recommendations and views on stock markets and other asset classes given by experts are their own. These opinions do not represent the views of Times of India)