Gold Price Prediction for Monday: Historic Rs 1,60,000 Breach Points Bullish for 24 August 2026
- August 21, 2026
- Posted by: Kunal Singla
- Category: Predictions
MCX Gold (Sep) at Rs 1,59,991/10g (+1.24%) on 21 Aug 2026. High: Rs 1,60,555. Low: Rs 1,58,277. First-ever weekly close above Rs 1,60,000. Support: Rs 1,59,500. Resistance: Rs 1,60,555.
Quick Answer
The gold price prediction for Monday, 24 August 2026, is sideways to bullish after MCX Gold made history on Friday 21 August by closing at Rs 1,59,991/10g — the first definitive weekly close above the Rs 1,60,000 landmark. Ankit Jaiswal places support at Rs 1,59,500 for the gold price prediction for Monday. Kunal Singla notes that Rs 1,60,000 has now transitioned from resistance to support.
The gold price prediction for Monday follows a landmark Friday session for MCX Gold. The September contract opened at Rs 1,58,400, reached an intraday high of Rs 1,60,555 — breaching Rs 1,60,000 intraday — and settled at Rs 1,59,991, closing above Rs 1,60,000 for the first time ever. Ankit Jaiswal, Research Analyst at Univest, notes that the gold price prediction for Monday is uniquely strong because this was a closing breach, not just an intraday touch. Closing above a major psychological level on a Friday session signals institutional acceptance of the new price range.
Kunal Singla, Research Analyst at Univest, observes that the gold price prediction for Monday is supported by multiple converging factors: India VIX rising to 11.20 (+4.09%) adds mild equity uncertainty that benefits safe-haven gold; the Iran-Strait of Hormuz geopolitical premium remains intact; and MCX Gold options data from Friday shows heavy call OI at Rs 1,65,000, suggesting institutional participants are positioning for a continued rally beyond the current level in the gold price prediction for Monday.
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Today’s Market Recap: Gold on 21 August 2026
Gold Price Prediction for Monday: Technical Analysis
Ankit Jaiswal’s gold price prediction for Monday identifies Rs 1,59,500 to 1,59,600 as the immediate support — just below Friday’s close of Rs 1,59,991. The Rs 1,60,000 level is now the psychological support floor: any Monday dip to Rs 1,60,000 is a buying opportunity in the gold price prediction for Monday. A break below Rs 1,58,277 (Friday’s intraday low) would be the only concerning development in the gold price prediction for Monday, suggesting the Rs 1,60,000 breach was temporary.
On the upside, the gold price prediction for Monday places resistance at Rs 1,60,555 (Friday’s intraday high). A decisive Monday MCX close above Rs 1,60,555 would confirm the gold price prediction for Monday as outright bullish, targeting Rs 1,61,500 to 1,62,000. Kunal Singla notes that the October Gold contract trading at a premium to September confirms institutional demand at higher price levels.
Trend for Monday 24 August 2026: Sideways to Bullish
Support: Rs 1,59,500 to 1,59,600 | Rs 1,58,277
Resistance: Rs 1,60,555 | Rs 1,61,500 to 1,62,000
Key Floor: Rs 1,60,000 — new psychological support in gold price prediction for Monday
Global Cues for Gold Prediction for Monday
- COMEX Overnight: COMEX gold and silver levels Monday morning are the primary pre-open cue for MCX precious metals on Monday. Watch spot gold above $3,400/oz and silver above $30.50/oz.
- Iran-Strait of Hormuz: Ongoing supply risk remains the dominant crude oil and commodity driver for Monday. Any weekend escalation or resolution will be the primary opening catalyst.
- US Dollar Index: A weaker DXY heading into Monday would support precious metals and commodities across the board on Monday.
Key Events for Monday 24 August 2026
- MCX Silver Mini and Copper 24 Aug options expire Monday 24 August — elevated intraday volatility expected in early Monday trade
- COMEX levels Monday morning set the MCX precious metal opening for Monday
- Iran-Strait of Hormuz weekend news is the primary catalyst for crude oil and energy commodities on Monday
- US EIA natural gas report and OPEC+ communications over the weekend will shape the energy complex on Monday
Stocks Linked to Gold Price Prediction for Monday
| Stock | 21 Aug Close (Rs) | Change | Key Level for Monday |
|---|---|---|---|
| Titan Company | 4,093 | +0.30% | Support: 4,061 | Resistance: 4,100 |
| Hindustan Zinc | 573 | +1.00% | Support: 564 | Resistance: 578 |
| Hindustan Copper | 568 | +0.90% | Support: 561 | Resistance: 575 |
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Strategy for Gold on Monday 24 August 2026
- Buy MCX Gold near Rs 1,59,500 with stop below Rs 1,58,500; target Rs 1,60,555 in the gold price prediction for Monday
- A break above Rs 1,60,555 targets Rs 1,61,500; trail stop to Rs 1,60,200 once Rs 1,60,555 is cleared in the gold price prediction for Monday
- Treat any Monday dip to Rs 1,60,000 as a buying opportunity — this level is now support in the gold price prediction for Monday
- Watch COMEX spot gold above $3,400/oz as the key overnight support signal for the gold price prediction for Monday
What Does Sentiment Indicate for Gold Prediction for Monday?
Sentiment for the gold price prediction for Monday is the most bullish it has been in months. The historic closing breach of Rs 1,60,000 on a Friday session — a weekly close above a landmark level — changes the sentiment framework entirely. Ankit Jaiswal notes that this is no longer a breakout trade in the gold price prediction for Monday; it is now a trend-following trade with Rs 1,60,000 as the floor.
Kunal Singla observes that the MCX Gold options market validated the gold price prediction for Monday’s bullish thesis: the Rs 1,65,000 call option saw nearly 700,000 contracts traded on Friday, indicating that institutional option writers and buyers are pricing in a continued rally. This options market signal, combined with sustained Iran-Hormuz geopolitical risk, makes the gold price prediction for Monday one of the highest-conviction commodity calls for 24 August 2026.
Risks to Gold Prediction for Monday
- A sharp US dollar rally (DXY above 104) overnight would compress gold below Rs 1,59,500 and weaken the gold price prediction for Monday
- COMEX gold falling below $3,370/oz would signal the Rs 1,60,000 breach was a short-lived false breakout in the gold price prediction for Monday
- Global equity risk-on rally reducing safe-haven demand could pull the gold price prediction for Monday toward support
- Iran-Hormuz diplomatic resolution over the weekend would remove the geopolitical premium from the gold price prediction for Monday
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Conclusion
The gold price prediction for Monday, 24 August 2026, is sideways to bullish after MCX Gold made history by closing above Rs 1,60,000 for the first time. The September contract settled at Rs 1,59,991 (+1.24%) on 21 August. Ankit Jaiswal places support at Rs 1,59,500 and resistance at Rs 1,60,555 for the gold price prediction for Monday.
Kunal Singla notes that Rs 1,60,000 is the new floor — any Monday dip to this level is a buying opportunity. Download the Univest app for live MCX gold alerts and expert research on the gold price outlook for 24 August.
Disclaimer: Investments in securities are subject to market risk. This content is for educational purposes only and does not constitute investment advice. Univest Research Analyst Registration No. INH000013776.
Frequently Asked Questions on Gold Prediction for Monday
What is the Monday’s MCX gold price forecast, 24 August 2026?
Ans. The Wednesday’s gold price outlook is sideways to bullish. MCX Gold (Sep) made history on Friday 21 August by closing at Rs 1,59,991/10g (+1.24%), breaching the Rs 1,60,000 landmark level for the first time. Ankit Jaiswal’s the 24 August gold price outlook places immediate support at Rs 1,59,500 and resistance at Rs 1,60,555. A Monday MCX open above Rs 1,60,000 would confirm the MCX gold price forecast for Monday as bullish continuation.
What are MCX gold support and resistance levels for Monday 24 August 2026?
Ans. The gold price’s 21 August outlook places support at Rs 1,59,500 to 1,59,600 (just below Friday’s close) with strong support at Rs 1,58,277 (Friday’s intraday low). Resistance stands at Rs 1,60,555 (Friday’s intraday high) and stronger resistance at Rs 1,61,500 to 1,62,000. Rs 1,60,000 now acts as the key psychological support floor in the gold price outlook for 24 August.
Why is gold’s breach of Rs 1,60,000 significant for the prediction for Monday?
Ans. Rs 1,60,000 is a major psychological milestone for MCX Gold that had resisted breach for months. MCX Gold closing above Rs 1,60,000 on a Friday session (Rs 1,59,991) — not just an intraday spike but a definitive weekly close — signals broad institutional acceptance of this level. Kunal Singla notes that when gold closes above a landmark level on a weekly basis, it typically consolidates just above that level in the following Monday session in the Monday’s MCX gold price forecast before extending higher.
How does VIX at 11.20 affect the Wednesday’s gold price outlook?
Ans. VIX rising to 11.20 (+4.09%) on Friday signals mild equity uncertainty, which historically increases gold’s safe-haven appeal. Ankit Jaiswal notes that a VIX between 10 and 12 represents a moderate safe-haven demand environment — not a panic buy, but a steady accumulation that keeps the 24 August gold price outlook constructive.
What is the gold trading strategy for Monday 24 August 2026?
Ans. For the MCX gold price forecast for Monday, Ankit Jaiswal recommends: buy MCX Gold on dips toward Rs 1,59,500 with stop below Rs 1,58,500 targeting Rs 1,60,555; a break above Rs 1,60,555 targets Rs 1,61,500. Kunal Singla advises treating any Monday dip to Rs 1,60,000 as a buying opportunity in the gold price’s 21 August outlook.
