Gold price prediction today: Momentum in gold prices remains weak, and markets will track the US-Iran developments for cues, says Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial Services Ltd.Gold traded under sustained pressure through the week on the hourly timeframe, extending its corrective phase after failing to hold gains above the ₹166,000–167,000 zone. The broader trend remains range-bound to mildly bearish in the short term, with prices consistently trading below the Bollinger Band midline near ₹160,600. Repeated rejections around the middle band indicate that sellers continue to dominate rallies, while buyers are primarily active near the lower Bollinger Band support.Technically, the recent rebound from the ₹157,000–158,000 region helped stabilize prices, but momentum remains weak as gold struggles to sustain above ₹160,000. Bollinger Bands have narrowed significantly, suggesting volatility compression and the potential for a larger directional move in the coming sessions. A decisive close above ₹160,600–161,400, which coincides with the Bollinger middle and upper band resistance cluster, would be required to confirm a bullish breakout and open the path toward ₹162,500 and ₹164,000.On the downside, immediate support is placed at ₹159,000 followed by the recent swing low zone near ₹157,500. A break below this support cluster could expose ₹156,000 levels. Overall, the market remains in consolidation mode, with traders closely watching whether prices can reclaim the Bollinger mid-band or continue the prevailing corrective trend.Markets for the entire week weighed the ongoing US-Iran ceasefire negotiations against rising inflation concerns and expectations of tighter monetary policy. While hopes for a diplomatic resolution supported sentiment, unresolved issues and escalating Israeli military operations in Lebanon kept geopolitical risks elevated. Higher crude oil prices continued to fuel inflation worries, strengthening the US dollar and Treasury yields while limiting gold’s upside. Investors now await key PMI data, US labor market indicators, and the RBI policy decision for further direction in precious metals markets.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India.)