MCX Gold Intraday Trading Call – MCX Gold displays mild bullish momentum as global tariff concerns stir safe-haven demand. Here’s your complete intraday gold trading call with entry, targets, stop loss, and technical snapshot.
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Market Sentiment: Mild Bullish Under Global Pressure 📌
Tariff concerns and a looming global economic slowdown have led to increased investor interest in safe-haven assets like gold. Though the charts aren’t showing major patterns or streaks, there is a subtle yet clear bullish undertone in both MCX and COMEX momentum.
MCX Gold Intraday Call – 6th August 2025 📈
💡 Trade Setup
- Position: Buy on dips
- Bias: Mild Bullish
- Trend Mild Bullish
Entry Zone, Target & Stop Loss 🎯
| Type | Price (₹) |
|---|---|
| Buy Range | ₹100850 – ₹100750 |
| Target 1 | ₹101586 |
| Target 2 | ₹102786 |
| Target 3 | ₹103333 |
| Stop Loss | ₹100000 (Strict) |
| Pivot Level | ₹101131 |
📍 Tip: Consider partial profit booking near the second target to manage risk.
Comex Gold (XAU/USD) Outlook
Comex Gold extended its gains for the fourth straight session, closing 0.2% higher. The upward momentum was driven by growing expectations of a rate cut and concerns over a potential economic slowdown, following the imposition of tariffs on a large portion of global trade. Anticipation of retaliatory measures against the US further enhanced the safe-haven appeal of the metal
🔍 Technical Overview
🔄 No Clear Patterns, But Momentum is in Favor
- No notable technical or candlestick patterns have emerged.
- No consistent 4-session daily streak to confirm a strong move.
- However, momentum indicators (Stochastics) on both MCX and COMEX are signaling bullish strength.
📊 Key Support & Resistance Levels
🔼 Resistances:
- ₹101786
- ₹102235
- ₹102890
🔽 Supports:
- ₹100682
- ₹100027
- ₹99578
📉 Options & MA Insights
- Options Skew: COMEX call premiums dropped more than puts – often a bullish hint.
- MA Proximity: No strong proximity to major moving averages (20/50/100/200) – hence, price may move more freely.
🧠 Final Word: Trade with Discipline
While the gold market isn’t flashing strong technical confirmations, momentum and broader sentiment are mildly bullish. Stay within defined levels, respect your stop loss, and avoid emotional decisions. A cautious bullish stance is ideal for today’s session.
⚠️ As always, monitor global cues closely – unexpected news can disrupt even the best setups.