Gold Price Today: Will Gold Stay Pressured Or Break Out? Expectations For 22K & 24K Rates This Week

As the markets reopen tomorrow after the weekend, all eyes turn to gold. Indian investors are expecting a potentially shift this week as global trends signal threats to domestic gold prices before August. 

What’s Shaping Gold Prices This Week?

ICICI Bank Global Markets has mentioned a short-term correction in global gold prices. Meanwhile, the World Gold Council sees gold remaining largely range-bound with potential upside or downside of 0–5% from current levels. It is due to geopolitical uncertainty. 

A weaker rupee and a strong USD have fluctuated the domestic gold price, bringing about 1.2% deviations in July. This alone may drive domestic rates higher even if global prices do not fluctuate.

Also, India’s inflation is also affecting the price of this precious metal. The Reserve Bank of India is unlikely to cut rates just yet, which are factors commonly supportive for gold as a hedge asset for the investors.

Technical Signals & Forecast

MCX gold, however on the technical chart, shows consolidation support levels of ₹98,600–₹99,200 and resistance nearer ₹1,02,000–₹1,05,000 per 10 g of Gold.  Therefore, a bullish momentum as of now is not predicted unless sentiment shifts sharply over a period of time. 

What to Expect This Week (July 28–Aug 2)

August 01, 2025 is expected to be the last date for US trade tariffs for most of the countries, specifically for US-India trade agreements. A higher dip or strength may occur across the markets. 

Gold prices (24K) may hold in ₹96,500–₹98,500/10 g and attempt a test toward ₹99,500–₹1,00,500 if safe-haven demand surges. 22K gold will likely track in proportion, roughly ₹92,800–₹94,500/10 g, as typical discounts persist.

Why It Matters & What to Watch

A sudden hint from the RBI, Dollar-Rupee movement, U.S. Fed, or new geopolitical alignments could trigger speculative buying or selling. On the contrary, solid risk-on emotions and sentiment may pressure gold.

But the question remains, Is gold headed for a breakout? or is it simply pausing before the next big move? Stay tuned with ‘NewsX- Business’ for the upcoming global cues and domestic market behavior for signs of the next leg.

(Disclaimer: This article is for informational purposes only and should not be considered financial advice. Investors are advised to read the prospectus carefully and consult their financial advisor before making any investment decisions.)

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