Gold prices on the MCX continue to display resilience despite intermittent profit booking, with June Futures consolidating near the Rs 1.58 lakh–Rs 1.59 lakh zone after a sharp rebound earlier this month. Analysts believe the broader trend remains positive as prices continue to hold above key technical support levels, while global uncertainty surrounding interest rates, geopolitical tensions and currency volatility keeps safe-haven demand intact. A decisive breakout above immediate resistance could pave the way for another leg of upside in bullion prices in the near term. The gold futures traded at Rs 1,59,236 per 10 grams on the MCX on Monday around 2 pm, up by Rs 557 or 0.35%.Commenting on the current trends, Jateen Trivedi, Vice President - Research at LKP Securities, said gold contracts continue to trade in a positive consolidation phase near the Rs 1,58,500 – Rs 1,59,500 zone after witnessing a strong recovery rally from lower levels earlier this month. The current setup indicates that despite intermittent profit booking at higher levels, prices are managing to sustain above key moving average supports, suggesting bullish undertone remains intact, he said, adding that global macro developments, including US economic data and currency movement, are likely to decide the next directional breakout in bullion prices.Tech viewFrom a price action perspective, gold has formed a stable higher-bottom structure on daily charts, which generally reflects accumulation at lower zones, the LKP analyst said, placing immediate resistance at Rs 1,60,800, followed by Rs 1,62,000, while support is placed near Rs 1,58,000 and stronger positional support remains near Rs 1,57,000. A sustained move above Rs 1,60,800 can trigger fresh momentum buying towards Rs 1,62,000 and higher levels in the coming sessions, Trivedi said.Technically, EMA 8 continues to trade above EMA 21, which keeps the short-term trend positive. Prices are also sustaining above both moving averages, indicating dip buying remains active. Bollinger Bands have started flattening after previous expansion, signalling consolidation before the next directional move. Current price action near the middle-to-upper Bollinger range suggests the broader bullish trend still remains intact unless major support zones are broken decisively."RSI is currently hovering near the 58 zone, reflecting moderate bullish momentum without entering extreme overbought territory. This indicates that Gold still has room for upside if fresh triggers support buying interest. MACD also remains in positive territory, although momentum has slightly slowed due to recent sideways movement. However, the absence of aggressive negative crossover suggests the broader bullish structure remains undisturbed," Trivedi said.Gold trading strategyOverall, the broader trend continues to favour a buy-on-dips approach as long as prices sustain above major support zones. Trading Strategy: Buy MCX Gold June Futures near Rs 1,59,200 – Rs 1,59,300 with a stop loss below Rs 1,57,000 on a closing basis for upside targets of Rs 1,60,800 and Rs 1,62,000.(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)