Where are gold prices headed? Key levels to watch out for May 18, 2026 week

Technically, immediate resistance is placed at ₹1,60,800–1,61,800, which coincides with the upper Bollinger Band and short-term supply zone. (AI image)

Gold price prediction today: Gold prices are expected to move towards consolidation in the coming days as well, says Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial Services Ltd.Gold has entered a crucial consolidation phase after the sharp vertical rally seen around May 13. On the 1-hour chart, prices are now cooling near the middle Bollinger Band around ₹1,59,450, showing loss of immediate momentum after the breakout spike toward ₹1,67,500–1,68,000. The Bollinger Bands had expanded aggressively during the rally and are now beginning to contract, indicating volatility compression and a possible directional move later this week.Technically, immediate resistance is placed at ₹1,60,800–1,61,800, which coincides with the upper Bollinger Band and short-term supply zone. A sustained move above this region can reopen upside targets toward ₹1,64,500 and then ₹1,67,000 again. On the downside, ₹1,57,200 is the first major support, aligning with the lower Bollinger Band and a short-term Fibonacci retracement zone. Below that, ₹1,55,500–1,54,800 becomes a stronger positional support area.A developing flag-like consolidation pattern is visible after the impulsive up move, suggesting the broader trend still remains positive unless support breaks decisively. Fibonacci retracement from the recent swing low near ₹1,48,000 to the top near ₹1,68,000 shows the 38.2% retracement near ₹1,60,300 and 50% around ₹1,58,000, making the current zone technically important.Disparity from the moving average has reduced sharply after the euphoric spike, which is healthy for trend sustainability. If price stabilizes above ₹1,58,000-₹155,000 while volatility compresses, another expansion move toward higher levels remains possible later this week.It is also important to note the disparity between international and domestic prices could sustain as several measures on the domestic front i.e. rise in import duty, restrictions of import have put pressure on market balance and premiums in market. Also, with new Fed governor Kevin Warsh path of interest rate for this year will also be important to track. Along with economic data any update from US-Iran and US-China will also be important to look at.(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.)