A falling rupee is a major factor that accelerates the surge in gold prices for Indian consumers.<\/p>\n<\/blockquote>\n
Commenting on the current gold rally, Jateen Trivedi, VP Research Analyst \u2013 Commodity and Currency at LKP Securities, said:<\/p>\n
\n\u201cThe broader uptrend in gold remains intact, with heightened sensitivity to geopolitical developments fueling fresh buying interest.\u201d<\/em><\/p>\n<\/blockquote>\nHe added that key support levels are seen at $3,290 on the COMEX and \u20b996,000 on the MCX, while resistance lies at $3,400 and \u20b999,500, suggesting the possibility of more upward movement if tensions persist.<\/p>\n
Tejas Shigrekar, Chief Technical Research Analyst at Angel One, echoed similar sentiments.<\/p>\n
\n\u201cGeopolitical tensions in the Middle East have added to the risk-off sentiment, supporting safe-haven demand for gold,\u201d<\/em> he noted.<\/p>\n<\/blockquote>\nShigrekar also pointed out that South Africa\u2019s slight decline in gold output contributed marginally to tightening supply conditions, adding more weight to the price rally.<\/p>\n
Gold Price Outlook: What\u2019s Next?<\/h3>\n
Looking ahead, analysts believe that gold may continue its upward trajectory if geopolitical risks remain elevated.
Shigrekar provided a technical outlook:<\/p>\n
\n- \n
Support levels: \u20b996,600\u2013\u20b996,400, with strong supports at \u20b995,800 and \u20b995,100.<\/p>\n<\/li>\n
- \n
Resistance levels: \u20b91,00,300\u2013\u20b91,00,500, with potential to rise up to \u20b91,01,200 and even \u20b91,17,000 if the momentum continues.<\/p>\n<\/li>\n<\/ul>\n
\nIf gold prices trade consistently above \u20b91,00,500, it could open the door to new record highs in the near term.<\/p>\n<\/blockquote>\n
Investor Sentiment Strong Despite High Levels<\/h3>\n
Despite the sharp rise, investors are still viewing gold as a safe asset to hold during volatile periods. While such high prices might encourage profit booking in the short term, the broader sentiment remains positive, especially as uncertainties linger globally.<\/p>\n
The demand for gold in India may continue to rise, particularly if the rupee remains weak and geopolitical conditions do not stabilize.<\/p>\n
Conclusion<\/h3>\n
Gold prices breaching \u20b91 lakh per 10 grams is a significant milestone in India\u2019s commodity market history. This landmark reflects not just the impact of global tensions, but also the deep trust investors place in gold during uncertain times.<\/p>\n
As long as the Middle East conflict persists and the rupee stays under pressure, gold is likely to retain its shine. Investors are advised to stay alert and monitor key levels, especially if tensions escalate further.<\/p>\n","protected":false},"excerpt":{"rendered":"
In a historic milestone, gold prices crossed the \u20b91 lakh per 10 grams mark for the first time ever on June 13, driven by escalating geopolitical tensions between Israel and Iran. The surge reflects renewed demand for the yellow metal as investors seek safety during uncertain times. Gold Hits Lifetime Highs on MCX On the […]<\/p>\n","protected":false},"author":2,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[615],"tags":[],"ppma_author":[1329],"class_list":{"0":"post-10292","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-stock-market-news"}," _eael_post_view_count":0,"authors":[{"term_id":1329,"user_id":2,"is_guest":0,"slug":"snehagandhi","display_name":"Sneha Gandhi","avatar_url":{"url":"https:\/\/trending.niftytrader.in\/wp-content\/uploads\/2025\/10\/Sneha-Gandhi.jpeg","url2x":"https:\/\/trending.niftytrader.in\/wp-content\/uploads\/2025\/10\/Sneha-Gandhi.jpeg"},"0":null,"1":"","2":"","3":"","4":"","5":"","6":"","7":""}],"_links":{"self":[{"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/posts\/10292","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/comments?post=10292"}],"version-history":[{"count":1,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/posts\/10292\/revisions"}],"predecessor-version":[{"id":10294,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/posts\/10292\/revisions\/10294"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/media\/10293"}],"wp:attachment":[{"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/media?parent=10292"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/categories?post=10292"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/tags?post=10292"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/ppma_author?post=10292"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}