Gold prices have shown a slight increase, with June futures on the Multi Commodity Exchange (MCX) rising over ₹600 (0.4%) to breach the ₹1.5 lakh mark. However, the yellow metal has corrected nearly 26% from its all-time high of ₹2,04,000 due to persistent profit booking and concerns over rising energy prices linked to the Iran-Israel conflict, which may delay interest rate cuts. Jateen Trivedi, Vice President and Research Analyst at LKP Securities, notes that gold is in a pullback consolidation phase after a sharp rejection from highs above ₹1,54,000, stabilizing around ₹1,49,500. He emphasizes that the market structure indicates a 'sell-on-rise' opportunity unless resistance levels are decisively breached. Key resistance is identified at ₹1,50,500 to ₹1,51,000, while immediate support is at ₹1,48,500 and major support at ₹1,47,500. The analysis highlights that gold remains sensitive to macroeconomic and geopolitical triggers, with the potential for volatility but a bearish outlook prevailing unless prices rise above ₹1,51,000.