1 week Ago
Gold prices surged to an all-time high of ₹93,736 per 10 grams on Friday (April 11) on the Multi Commodity Exchange (MCX), tracking strong global trends. In international markets, gold futures touched a record $3,240.20 per ounce, as investors sought safety amid rising geopolitical tensions, inflation concerns, and a weakening rupee.
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28% Rahul Kalantri, VP, Commodities at Mehta Equities, believes gold remains in a long-term bullish zone despite short-term market noise. He advises both short-term traders and long-term investors to stay alert and follow a structured approach. Kalantri's strategy for investors Short-term investors: Be cautious and use protective stop losses.
"Sharp reversals are possible, so it’s important to protect profits and monitor key support and resistance levels," he said. Key levels: Support: ₹87,240 – ₹85,550 per 10 grams Resistance: ₹90,000 – ₹91,440 per 10 grams In global terms, support lies at $2,965 and $2,840 per ounce, with resistance at $3,150 per ounce. Long-term investors: Use dips to accumulate.
"Central bank buying, global risks, and steady ETF inflows make gold a strong bet over the long term," Kalantri noted. He added that investors should watch the rupee’s movement against the dollar closely, as it plays a key role in domestic gold pricing. With mine production and recycled gold supply expected to rise, Kalantri advised balancing short-term caution with long-term conviction.
“Volatility will be there, but the long-term outlook remains positive,” he said..
