Gold Market
Daily movements in the gold market and what is driving them.
CTAs have reversed recent gold buying, but discretionary investors are providing support, according to TD Securities. The bank expects any near-term weakness to be limited and to offer buying opportunities.
Indian authorities are weighing joint RBI-SEBI oversight of digital gold and a requirement that each unit be backed by physical bullion. The market holds roughly $3 billion in assets.
Gold and silver snapped a two-day rally on the MCX, with gold down Rs 1,331 per 10 grams and silver down Rs 1,600 per kg amid US-Iran tensions and central bank rate hikes.
Gold held near $4,350 an ounce as lower oil prices eased inflation concerns and traders weighed the Federal Reserve's rate path after its first hike since 2023.
Analysts expect gold to trade in a narrow range next week as markets shift focus to manufacturing and services PMI data from major economies, with the dollar and geopolitical tensions also in view.
Central bank buying, dollar moves, crude oil, and seasonal demand are shaping the outlook for gold and silver through 2026 and beyond. Here’s what’s driving prices.
Gold rises 0.89% to $4,379 as oil prices ease, despite a Fed rate hike that had driven the metal to a two-month low. Key resistance sits at $4,400.
Gold fell Rs 800 per 10 grams on the MCX while silver gained Rs 1,000 per kg, supported by a subdued dollar and weaker crude oil prices amid global interest rate uncertainty.
Jefferies' Christopher Wood says gold could reach $10,000 over the long term, citing US fiscal pressures and rising Indian gold lending. He advises buying on dips toward $3,800-$4,000.