Gold price prediction today: Gold prices are expected to continue facig pressure as dollar strengthens, says Maneesh Sharma, AVP – Commodities & Currencies, Anand Rathi Shares and Stock Brokers. He shares his views and recommendations for gold investors:Spot Gold slumped to below $4000 per Oz during the current week as the precious metal traded with a limited upside since last week on constructive US – China outcome reinforcing global risk appetite. On the other hand Dollar Index tested 100 levels as divided Federal Reserve spurred traders to rein in interest rate cut wagers. Fed official’s continued pressing competing views of where the economy stands and the risks facing it in the absence of economic data suspended due to the federal government shutdown.Gold also came under brief pressure since last week on reports that China’s Ministry of Finance reduced the value-added tax (VAT) exemption on gold purchased via the Shanghai Gold Exchange & Shanghai Futures Exchange from 13% to 6%, effective November 1, 2025. Investors in China were “disappointed” by the new rule, which removes a key tax advantage that had long supported gold trading activity.Moving ahead, traders see the first week of each month standing out for the US employment-related data, most of which is seen missing this time amid the federal shutdown. The private ADP survey on Employment Change will be out as usual, but no other figures should be expected in the upcoming days. Gold is expected to trade with a limited upside as expect some consolidative moves on release of ADP numbers ahead.On a longer term basis gold could still remain a favorable commodity for coming months amid peak wedding season demands in India to start from Mid-November onwards, while seasonally December & January remains a favorable month for gold prices.
Gold Price Outlook
Weekly View
- Spot Gold – Sideways to Slightly Negative bias
- Spot Silver – Sideways to Negative
Gold had tried to build on a modest bounce seen on Monday, though it lacked bullish conviction & remaining on the back foot below the key $4,000 psychological mark. A turnaround in the global risk sentiment could assist the safe-haven precious metal to dip further towards the $3,950 – 3,825 per oz area in Spot (CMP $3995).However Dollar is seen likely to extend its upside towards 101 – 101.50 levels in coming week in absence of major macro cues which could keep major upside in bullions limited. On MCX futures, Gold (CMP Rs 1,20,950), upside could face resistance in the range of Rs. 1,23,000 – 1,24,600 while strong supports persists in the range of Rs. 1,18,000 – 1,17,600 /10 gm levels on weekly basis.Meanwhile for the upcoming December month concerns about economic risks stemming from a prolonged US government shutdown, geopolitical tensions & trade-related uncertainties could act as a tailwind for the commodity and could witness a renewed rally towards the year end.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)
