Gold price prediction: Should you follow sell on rise strategy? Check October 9, 2026 outlook - The Times of India

AI desk brief

MCX Gold December futures have rebounded to around Rs 1,51,325 after breaking above Rs 1,49,500–Rs 1,50,000, but the near-term view remains tactical sell-on-rise into Rs 1,51,500–Rs 1,51,700 resistance. The proposed setup targets Rs 1,50,000 with a stop above Rs 1,52,600; a sustained break above Rs 1,51,700 would invalidate the bearish intraday bias and open the door for further upside.

The chart backdrop is constructive short term, with price back above EMA 8/21 and MACD positive, while volume has expanded. However, declining open interest suggests the rally may be driven more by short covering than fresh long accumulation, so traders are being advised to wait for rejection at resistance before initiating shorts.