Gold Price Predictions for October: Market Outlook Amid Inflation - India News Network

AI desk brief

Gold and silver came under pressure after hotter CPI/PPI readings lifted Treasury yields and the dollar, with spot gold around $4,151.80/oz, down 0.33%, after briefly slipping below $4,100/oz and then trading in a $4,100-$4,200/oz band. Silver weakened through key support near $60/oz before stabilising above $57/oz, underscoring the market’s sensitivity to inflation data and rate-hike speculation.

ETF demand remains a notable offset: global gold ETF holdings hit 101.3 million oz on 8 October, up 5.3% from the July low of 96.2 million oz and about 2% higher YTD, with Asian-listed funds accounting for nearly half the increase. Kazakhstan also plans to trim gold’s share of reserves from about 78% to 75% by year-end, implying roughly 15 tonnes of potential sales if fully executed, while India’s 3% GST framework on gold, silver and platinum continues to shape import working-capital dynamics rather than end pricing.