Gold slipped below $4,100 per ounce

Today’s MCX Gold Outlook

Bullish Above: Rs. 1,40,000
Bearish Below: Rs. 1,35,000
Expected Range: Rs. 1,35,000 – Rs. 1,40,000
Best Trade Today: Buy Gold 135000 PE below Rs. 1,35,000

MCX Gold Levels Today: Support, Resistance, Option Chain & Trade Setup

Gold is trading around US$4,000 per ounce, hovering near its lowest level in almost eight months as a stronger US dollar and growing expectations of another Federal Reserve rate hike continue to pressure bullion prices.

The US dollar has climbed to its highest level in over a year, reducing the appeal of dollar-denominated commodities. Meanwhile, the Federal Reserve has maintained its hawkish stance, with markets increasingly pricing in a September rate hike, followed by the possibility of another increase before year-end.

Although easing geopolitical tensions following progress in US-Iran peace negotiations have reduced inflationary pressures through lower crude oil prices, higher interest-rate expectations continue to dominate gold’s outlook.

Option chain data also indicates active positioning around 130000–140000, with significant Put open interest around 130000–135000, while substantial Call writing is visible from 145000 onwards, suggesting resistance at higher levels.

Today’s bias remains bearish, unless gold sustains above Rs. 1,40,000.

Key MCX Gold Levels Today

Level	Price
Support 1	Rs. 1,35,000
Support 2	Rs. 1,30,000
Pivot	Rs. 1,40,000
Resistance 1	Rs. 1,45,000
Resistance 2	Rs. 1,50,000

Chanakya View

👉 Below Rs. 1,35,000: Buy 135000 PE for targets of Rs. 1,30,000–1,25,000.

👉 Below Rs. 1,30,000: Fresh selling may drag prices towards Rs. 1,25,000.

👉 Above Rs. 1,40,000: Buy 140000 CE for targets of Rs. 1,45,000–1,50,000.

👉 Between Rs. 1,35,000–1,40,000: Expect consolidation and option premium erosion.

MCX Gold Option Chain Strategy Today – 30 June Expiry

Today’s Options Trade Setup

Instrument	Trade	Buy Zone	Target	Stop Loss
Gold 135000 PE	Buy Below Support	Rs. 520 – 600	Rs. 900 / 1,300	Rs. 380
Gold 130000 PE	Buy on Breakdown	Rs. 170 – 220	Rs. 350 / 520	Rs. 110
Gold 140000 CE	Buy Above Resistance	Rs. 2,700 – 2,850	Rs. 3,600 / 4,300	Rs. 2,200

Why This Trade?

• Gold continues to trade near an eight-month low as the US dollar strengthens.

• Markets are increasingly pricing in a September Federal Reserve rate hike, keeping pressure on precious metals.

• Falling crude oil prices have eased inflation concerns, reducing demand for gold as an inflation hedge.

• Option chain shows strong Put open interest around 130000–135000, indicating an important support zone.

• Heavy Call positioning from 145000–150000 is likely to cap any sharp recovery.

• Unless gold reclaims Rs. 1,40,000, rallies are likely to attract fresh selling.