Gold price forecast today: is the end in sight for gold’s fall? Check the forecast for the week of July 13, 2026.

Gold continues to trade bearishly after continuing a series of lower highs and lower lows on the daily chart. (AI image) Gold price forecast today: Gold prices are trading bearishly as geopolitical developments impact investor sentiment, says Manav Modi, senior commodity research analyst at Motilal Oswal Financial Services Ltd.Gold prices continue to decline as escalating geopolitical tensions in the Middle East continue to fuel inflation concerns and heighten expectations that the US Federal Reserve will maintain contractionary monetary policy. Fresh U.S. strikes on Iranian targets, following attacks on commercial shipping near the Strait of Hormuz, have pushed up crude oil prices, reviving fears of energy-fueled inflation and adding to uncertainty over global supply routes. Rising oil prices supported the US dollar and Treasury yields. Meanwhile, minutes from the Federal Reserve’s June meeting showed policymakers remained divided on the need for further policy tightening but generally acknowledged ongoing inflation risks arising from elevated energy prices, artificial intelligence-driven investment demand and the impact of tariffs. As a result, markets continue to bet on the possibility of another Fed rate hike before the end of the year if inflation remains stable.Investors’ attention will now turn to key US economic data this week, particularly the Consumer Price Index (CPI) and Producer Price Index (PPI), as well as Federal Reserve Chairman Kevin Warsh’s testimony before Congress for further clarity on the inflation outlook and the future path of interest rates.Stronger-than-expected inflation data could fuel expectations for higher interest rates and further pressure on bullion, while softer inflation readings or dovish policy signals could provide some relief to gold prices.Gold continues to trade bearishly after continuing a series of lower highs and lower lows on the daily chart. Prices remain below the 20-day moving average, indicating that sellers will continue to dominate in the short term. While the metal is holding above the lower Bollinger Band, the failure to hold above the 20-day average suggests recovery efforts are likely to attract fresh selling. The broader trend will remain corrective unless prices return to key resistance levels.In terms of Bollinger Bands, the 20-day moving average (middle band) is located at Rs 145,806, the upper band is at Rs 152,446 and the lower band is at Rs 139,166. Gold is currently trading below the midband and is gradually moving towards the lower band, reflecting weakening momentum. A sustained close above Rs 145,800 would indicate improving sentiment and could pave the way for the upper Bollinger Band, while a break below Rs 139,200 could accelerate downward momentum.The Fibonacci retracement carried out from the recent major low around Rs 118,000 to the all-time high around Rs 179,000 results in a retracement of 23.6% around Rs 164,600, 38.2% around Rs 155,700, 50% around Rs 148,500 and 61.8% around Rs 148,500 and 61.8% around Rs. 141,300. Gold is currently trading near the 61.8% retracement level, a level that is often seen as the last line of support before a deeper correction. Holding above this zone could encourage bargain buying, while a decisive break below it could see prices in the Rs 138,500-Rs 137,000 region.Technically, gold appears to be trading in a downward channel, indicating a sustained short-term downtrend. The immediate support is seen at Rs 141,300, followed by Rs 139,200 (Lower Bollinger Band) and Rs 137,000. On the downside, the first resistance remains at Rs 145,800, followed by Rs 148,500 (50% Fibonacci retracement) and Rs 152,450 (Upper Bollinger Band). The overall outlook remains bearish to neutral, with the support zone at Rs 141,300 likely to determine whether gold recovers or continues its corrective decline during the week.(Disclaimer: The recommendations and views on the stock market or any other asset class or personal finance management advice given by experts and analysts are their own. These views do not reflect the views of The Times of India.)