Gold price prediction: What’s the outlook for November 7, 2025? Why ‘buy on dips’ makes sense
Gold price prediction today: Gold prices are showing some initial signs of recovery and investors should adopt a buy on dips strategy, says Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities. Here is his strategy for gold investors:Gold futures on MCX traded near ₹1,20,880, showing signs of recovery after witnessing pressure in the previous session. Prices have rebounded from a key short-term support near ₹1,20,000 as traders anticipate steady buying interest ahead of upcoming U.S. data releases. The overall structure suggests a buy-on-dips approach remains favorable, with short-term momentum gradually improving.
Gold Technical Setup:
Moving Averages (EMA 8 & 21): The 8 EMA is attempting to cross above the 21 EMA after several sessions of consolidation, signaling a potential short-term trend reversal. Sustaining above the ₹1,20,600–₹1,20,700 range could attract fresh buying momentum. Bollinger Bands: Prices are currently hovering near the mid-band after a recovery from the lower Bollinger band, hinting at renewed buying interest. The upper band around ₹1,21,800 is expected to act as immediate resistance.Pivot Points (Previous Day):
- Support Levels: ₹1,20,100 – ₹1,19,950
- Resistance Levels: ₹1,21,450 – ₹1,21,800 A sustained move above ₹1,21,450 could confirm a bullish breakout, while ₹1,20,100 remains key intraday support.
- RSI Indicator: The RSI has recovered to around 51, moving upward from near 40, which reflects improving momentum and growing buying strength after recent weakness.
- MACD: The MACD is showing early signs of a positive crossover with histogram bars turning green, indicating that bullish momentum is building.
Gold Intraday View:
- Strategy: Buy on dips
- Entry Zone: ₹1,20,600 – ₹1,20,700
- Stop-Loss: ₹1,20,100
- Targets: ₹1,21,450 and ₹1,21,800
- Bias: Bullish above ₹1,20,600; momentum likely to strengthen if price sustains above the short-term EMA cluster.
Conclusion:Gold’s intraday setup is turning constructive as the EMAs converge positively, RSI rebounds, and MACD signals a shift in momentum. The broader structure favors buying on dips near ₹1,20,600 with defined risk at ₹1,20,100, aiming for an upside towards ₹1,21,800. A breakout above the upper resistance could open the path toward ₹1,22,200 in the near term. Bias: Buy on dips till above ₹1,20,600 | Upside potential ₹1,21,800 – ₹1,22,200(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)
