Gold price prediction today: Where is gold headed in near-term? Check October 7, 2026 outlook - The Times of India

AI desk brief

Gold is trading around $4,137/oz with the near-term tone still cautious: a firm dollar and elevated Treasury yields are weighing on bullion, while softer US jobs data and steady inflation have trimmed October hike odds to under 20% and offered only modest support. The article flags a sharp September disconnect — gold down more than 8% even as global gold ETFs saw over 70 tonnes of inflows — suggesting futures liquidation offset persistent investor buying.

Structural demand remains a floor, with China adding to reserves for a 23rd straight month and central banks buying 39 tonnes in August, taking 2026 YTD buying to 170 tonnes. Key catalysts this week are the Fed minutes and any further escalation in the Strait of Hormuz, with resistance at $4,250/$4,310 and support at $4,077/$4,000; silver is quoted at $60.75/oz with resistance at $63.50/$65.50.