Gold prices are currently trading at approximately ₹1,50,400, following a brief corrective phase. The metal has shown weakness due to inflation concerns and stalled negotiations between Iran and the US. On Monday, June gold futures dropped by ₹1,260 or 0.8% per 10 grams, reaching a low of ₹1,50,093. Analysts from LKP Securities note that the upcoming US Nonfarm Payrolls (NFP) data will be pivotal in determining gold's direction. Historically, strong NFP data tends to support the US dollar and apply downward pressure on gold, while weak data can lead to increased gold prices due to expectations of interest rate cuts. Technical indicators suggest that gold is consolidating above short-term support levels, with immediate support between ₹1,50,000 and ₹1,50,200, and major resistance at ₹1,53,500. Analysts recommend a buy-on-dips strategy in the range of ₹1,50,000 to ₹1,50,200, with a stop loss set at ₹1,48,000 and a target of ₹1,53,500.