Gold price prediction today: Gold prices are likely to be driven by geopolitical tensions and the US government shutdown. Investors should look to buy on dips, says Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial services Ltd. Here is his outlook for gold prices in the coming days:Gold prices surged past the $4,000 mark for the first time ever last week, driven by safe-haven demand amid escalating geopolitical tensions, a weakening dollar, and expectations of aggressive US Federal Reserve rate cuts.The rally was further supported by political unrest in Japan and France, along with an intensifying US government shutdown that entered its eighth day, delaying key economic data releases. Silver also briefly breached the $50 level before profit booking set in. However, both metals corrected sharply mid-week as the dollar rebounded and a ceasefire between Israel and Hamas temporarily eased geopolitical fears. Despite the pullback, Silver remains in deep backwardation due to acute supply shortages, prompting some fund houses like Kotak to halt new ETF inflows. Trump’s announcement of 100% tariffs on Chinese goods and China’s countermeasures added to global trade tensions. Physical market premiums surged, adding to domestic price volatility.This week, the market’s focus will shift to major macroeconomic events and data, assuming the US shutdown doesn’t delay releases further. Key highlights include US CPI, retail sales, and jobs data, along with speeches from Fed Chair Powell and other officials. Investors will also watch the IMF’s World Economic Outlook, OPEC’s monthly oil report, and China’s post-holiday demand trend. Any progress or worsening of the US shutdown situation, along with developments in global geopolitical tensions, will continue to heavily influence precious metals.Gold Trading Strategy: Buy on dips(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)