MCX gold price continues to find support around Rs 1,48,000, with price showing potential for a rebound it sustains above the Rs 1,51,200–1,53,000 resistance zone. Immediate support is placed at Rs 1,49,200–1,48,000. Despite recent volatility, the broader outlook remains supported by structural factors, including record government debt, rising debt-servicing costs and persistent geopolitical uncertainty, said Kaveri More, Commodity Technical Analyst, Choice Broking.
Robust central-bank demand has also underpinned prices, while strong Chinese consumer demand, with gold imports reportedly reaching 1,141 tonnes through August, further reinforces the longer-term outlook, More added.
