Gold Prices Rally in August 2026, Analysts Suggest Cautious Approach for Investors
· Business · Times of India, Moneycontrol
Gold prices are on a strong upward trend in August 2026, with MCX Gold October futures trading close to ₹1,60,900 per 10 grams. Analysts note the rising prices are supported by a consistent pattern of higher highs and higher lows, as well as positive indicators like MACD and bullish moving averages. The Relative Strength Index (RSI) is in the overbought zone around 71, but analysts warn against chasing the rally at elevated levels. Instead, they recommend a 'buy-on-dips' strategy, suggesting investors look for entry points between ₹1,60,600 and ₹1,60,700 with a stop-loss below ₹1,59,500, targeting ₹1,62,000. The continued rise in prices is tied to strong underlying momentum despite intermittent profit-taking risk.
Why it matters
Traders and investors looking to capitalise on the bullish trend in gold prices must weigh potential gains against the risk of overbought conditions, which may lead to corrections.
Read the original report — Times of India
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