US-Iran Tensions Safe-Haven Demand

"With the base trend staying firmly positive, any near-term dip toward support is worth treating as an accumulation opportunity rather than a warning sign of a trend reversal. Gold's 149,000 level is the breakout level from the formation and last week's key support, remains the crucial support to watch heading into the current week as well."

"The broader trend remains positive, but volatility and profit-booking may persist at higher levels. Technically, ₹1,50,000 has emerged as a key support, while ₹1,56,000 remains the next major resistance."

"Gold has shown signs of stabilising after a prolonged corrective phase, with prices rebounding from recent lows and moving back above the 20-day average. The recovery indicates that buying interest is gradually returning. Gold is currently trading above the middle band, indicating improving short-term momentum."

"A wave of dip-buying has helped to keep the metal above the key level of $4,000 an ounce in recent weeks."

"The price action suggests that the contract has a new base at ₹1,41,000. If gold futures moves up on the back of this, it can rise to ₹1,47,500."

"Gold posting a weekly gain last week despite higher oil prices, a firmer Dollar Index and higher yields is a positive development for the development. However, the yellow metal is still not out of the woods as oil prices can be highly unpredictable in the short term due to the deluge of Iran-related news."

"Gold has largely hovered around US$4,000 an ounce since late June, with a wave of dip-buying keeping the metal above the psychological threshold that some traders see as a key support."

"A sustained hold above the $4,000 level could encourage short covering and lift MCX Gold towards Rs 1,43,500 in the near term"

"Analysts noted that a sustained move above Rs 1,53,000 could strengthen bullish sentiment and push prices towards the Rs 1,55,000–Rs 1,56,000 range."

""Strong buying interest is seen in the ₹1,45,000–₹1,50,000 support area.""