Gold prices are expected to remain under pressure due to anticipated US interest rate hikes, with a negative near-term outlook. The precious metal has fallen for five consecutive weeks, hitting its lowest level since November below $3,980/oz.
Mehul Kothari of Anand Rathi Shares recommends buying NACL Industries, Info Edge (Naukri), and Minda Corporation, citing technical breakouts and reversal setups. This comes as the BSE Sensex and Nifty50 closed lower due to selling pressure in IT, oil & gas, and banking stocks, influenced by US-Iran talks uncertainty and monsoon concerns.
Gold prices are holding strong, supported by central bank purchases and an interim US-Iran peace agreement that shifted focus from geopolitics to economics. Easing tensions reduced inflation fears and Fed tightening expectations, leading to lower Treasury yields and a softer dollar.
Gold and silver prices surged domestically following India's sharp increase in import duties to 15%. Analysts expect prices to align with international levels as the market absorbs the changes, with a constructive long-term outlook for gold and strong potential for silver.
Mehul Kothari recommends buying Narayana Hrudayalaya, Coal India, and Hyundai Motor India today, citing bullish technical patterns and improving momentum
Narendra Solanki of Anand Rathi Shares & Stock Brokers advises investors to separate durable compounders from one-off performers in Q4 earnings. He prefers two-wheelers and commercial vehicles over passenger vehicles, picks ICICI Bank and Axis Bank in private banking while watching HDFC for turnaround, and advocates a 3-5 year view on defence stocks. He remains positive on Bajaj Finance (22% loan growth, ROAs above 4%) and sees Jio IPO as key catalyst for Reliance.
Anand Rathi Shares analyst Mehul Kothari recommends three stocks with bullish technical setups: Jio Financial Services (buy ₹255-₹250, target ₹280) showing inverse Head & Shoulders reversal, Hindustan Zinc (buy ₹630-₹615, target ₹700) with breakout above ₹610 indicating trend continuation strength, and PVR INOX (buy ₹1020-₹1000, target ₹1180) forming base near 88.6% Fibonacci retracement. All recommendations include stop losses.
Gold price prediction today: Both gold and silver prices are expected to continue seeing volatility in the near term, says Vedika Narvekar, Research Analyst - Commodities & Currencies, Anand Rathi Shares and Stock Brokers.
