Saad Ullah
The Nippon India ETF Gold BeES (GOLDBEES) is building momentum after several months of sideways movement. Trading around $1.17, the fund is catching investor interest as it mirrors the resilience seen in global gold markets. Indian investors are turning to gold exposure as a buffer against economic uncertainty and rising inflation.
From Consolidation to Breakout
Between April and August 2025, the ETF moved sideways in a $0.92–$1.03 range, creating a solid accumulation base. According to trader Nimblr's analysis, this period laid the groundwork for what came next.
By late August, buying pressure returned with force, pushing prices higher through a series of strong weekly gains. The ETF recently touched $1.19, signaling that buyers are firmly in control. The succession of green candles reflects consistent demand for gold-backed instruments.
Global Tailwinds Supporting the Rally
Several broader trends are working in the ETF's favor. XAU/USD continues climbing, driven by central bank gold purchases and ongoing geopolitical tensions. In India specifically, demand stays elevated thanks to seasonal buying patterns and rupee fluctuations that make gold more attractive. Meanwhile, nervous equity markets are pushing capital toward safe-haven assets, with gold ETFs benefiting directly from these defensive flows.
Technical Levels in Focus
The $1.20 mark represents the next meaningful resistance - a round number that often triggers profit-taking. On the downside, the $1.12–$1.13 area has emerged as immediate support, a zone that previously acted as resistance during the consolidation phase. Holding above this level would keep the bullish structure intact and suggest further upside potential.
Saad Ullah
