Gold price prediction: Is it time to buy gold on dips? Check July 17, 2026 outlook

MCX Gold August futures have seen a sharp intraday recovery from lower support levels.

Jateen Trivedi of LKP Securities advises a buy on dips strategy for gold.

Buying is recommended in the Rs 1,40,750–Rs 1,40,800 zone with a stop-loss below Rs 1,40,000 for a target of Rs 1,42,000.

The 8-period EMA is turning higher and attempting to cross above the 21-period EMA, indicating improving short-term momentum.

Gold bounced from the lower Bollinger Band, suggesting exhaustion of selling pressure and potential reversal.