Gold price prediction: Should you buy gold on dips? Check September 4, 2026 outlook - The Times of India

AI desk brief

MCX gold October futures are trading around Rs 1,55,250 and the short-term technical setup remains constructive after the recent rebound. The article frames this as a buy-on-dips market, with the Rs 1,55,000-Rs 1,55,200 zone acting as near-term support and a stop below Rs 1,53,400. Upside targets are Rs 1,56,200 initially, then Rs 1,57,200 if momentum extends.

The technical backdrop is improving: EMA 8 remains above EMA 21, prices are holding in the upper half of the Bollinger Band range, RSI is around 56, and MACD is described as supportive. The author argues recent consolidation is more likely a base-building pause than a reversal, with higher lows and higher highs still intact.

For traders, the key risk is a decisive break under Rs 1,53,400, which would invalidate the bullish intraday structure and open the door to renewed selling pressure. Near term, price action around Rs 1,55,000 will likely determine whether the current recovery can extend toward the higher resistance band.