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, after posting its biggest weekly gain in five years amid global uncertainty and trade tensions, gold witnessed a sharp decline along with silver, which tumbled more than 5% in one session as investors booked profits following a strong rally earlier this year. Market sentiment turned cautious on the prospects of a ceasefire between Russia-Ukraine and Israel-Hamas, although continued attacks in the Middle East kept geopolitical risks high. US President Trump’s request for Ukraine to accept the deal with Russia and his comments ruling out a 100% tariff on Chinese goods added to global speculation, while expectations of a meeting with President Xi Jinping fueled hopes for an easing of US-China tensions. After COMEX gold neared $4,400 and silver rose more than 85% YTD, markets corrected sharply as margin calls and a firmer dollar index led to panic selling.Nevertheless, concerns about Fed independence, political instability and ongoing geopolitical unrest continue to support strategic bullion purchases. Amid the US shutdown, key economic data points have been postponed, but US inflation figures came in slightly lower than expected, providing immediate support to bullions. In addition to further talks between the US and China, the Fed’s policy meeting is also scheduled for this week, where the market expects a 25 basis point rate cut. Any comments from Governor Powell at the meeting that indicate a data-driven approach or a cautious tone could further depress prices. In addition, any change in tone from the positive weekend mood between the US and China could negatively impact the situation.Posture: Side downRange: 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 views do not represent the views of The Times of India)
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