Gold price prediction: Gold rate continues to fall or will bear movement end after US midterm elections re - The Economic Times

AI desk brief

Gold extended its selloff to a one-year low as spot gold fell 3.29% to $3,898.90/oz, while silver dropped 6.5% to $49 and palladium slipped below $1,000. The move was tied to weak tech shares, liquidation and possible margin calls, with bullion also showing heavy weekly losses as gold touched $3,870 and silver $48.7.

Analysts said the next catalysts are the US midterm election results, President Trump’s post-election actions, and a dense macro calendar including PMI readings, eurozone inflation, and US unemployment/nonfarm payrolls. Geopolitical escalation involving the US, Israel and Iran could lift crude and trigger intermittent safe-haven demand, but the broader direction remains dominated by macro and risk-asset liquidation.