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Gold may be poised for a correction after recent gains as technical signals suggest weakening bullish momentum, according to SEBI-registered analyst Vikash Bagaria.
On Monday, the 24-carat gold rate in India rose by ₹330 to ₹97,640 per 10 grams.
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Bagaria highlighted a monthly Doji candle at the top signaling indecision, along with price struggles near key Fibonacci resistance zones on the weekly chart.
The analyst said that gold is trapped below a triangle resistance pattern with fading momentum on the daily timeframe.
He pointed to bearish indicators, including a turning MACD and an RSI cooling below 55, suggesting bulls are losing control while bears prepare to take over.
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According to Vikash Bagaria, if gold’s price in Indian Rupees per 10 grams closes decisively below the key support level of ₹93,200, it could lead to a sharp correction, with important demand zones likely to emerge near ₹91,600 and ₹88,500.
Gold has gained 26.4% so far in 2025.
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