Gold price prediction: Gold prices are likely to trade with a lower bias in the coming days, says Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial Services Ltd. Here is his outlook for gold prices in the coming days:Last week, Gold, after recording its biggest weekly gain in five years amid global uncertainty and trade tensions, witnessed a sharp fall along with silver, which plunged over 5% in a single session as investors booked profits following a strong rally earlier this year. Market sentiment turned cautious amid prospects of a cease-fire between Russia-Ukraine and Israel-Hamas, although continued attacks in the Middle East kept geopolitical risks elevated. US President Trump’s request for Ukraine to accept Russia’s deal and his comments ruling out a 100% tariff on Chinese goods added to global speculation, while expectations of a meeting with President Xi Jinping fuelled hopes of easing US-China tensions. After COMEX gold neared $4,400 and silver soared over 85% YTD, markets corrected sharply as margin calls and a firmer dollar index triggered panic selling.Nonetheless, concerns around the Fed’s independence, political instability, and persistent geopolitical unrest continue to support strategic buying in bullion. Amidst US shutdown major economic data points are delayed however, US inflation print was released slightly lower than expectations providing an immediate support to bullions. This week along with further talks between the US and China, the Fed policy meeting is also scheduled where a 25 bps cut is expected by the market. Any comments from Governor Powell during the meeting suggesting a data dependent approach or a cautious tone could further weigh on prices. Along with that, any change in the tone from the weekend positivity between US and China could put a cap on the lower side.Stance: Sideways to lowerRange: 1,18,000- 1,20,000: 1,25,000(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)
