Gold Price Forecast for Next Week

Gold Price Forecast for Next Week (23rd - 27th March 2026)

Comex gold prices plunged over 10% this week to close at $4,491 per ounce on Friday, marking the steepest weekly decline since 1983, while MCX gold dropped about 9%. The sharp fall was driven by escalating Middle East tensions that lifted energy prices and dampened expectations of near-term interest rate cuts. Losses deepened after reports of the Pentagon deploying three warships and thousands of Marines, prompting markets to price in a 50% probability of a Federal Reserve rate hike by October amid persistent inflation concerns. Gold has now declined every week since the US-Israel strikes on Iran, weighed down by rising US Treasury yields, a stronger dollar, and profit-booking as investors covered losses in other assets. Major central banks, including the Federal Reserve, ECB, BOE, and BOJ, held rates steady but signaled possible tightening. In physical markets, gold discounts in India eased this week from near decade-high levels last week, helped by festive buying and a sharp correction in prices, while premiums in China declined as physical demand softened. On the data front, Economic data in the US will be headlined by leading indicators in the S&P PMI, Michigan consumer confidence index, and results from surveys by multiple regional Fed banks. Flash PMIs will also be featured in the Euro Area and its largest economies, the UK, Japan, Australia, and India.

Gold price has declined for past eight consecutive sessions and posted fall for third week, posted weekly fall of -8.57% and managed to settle at 144,825. Gold price has settled below 20 and 50-DEMA levels placed at 155,835 and 152,755 respectively. In past couple of session’s momentum, price has failed to close below 100-DEMA level placed at 143,775. Key support would be at 200-DEMA level placed at 129,188. On the other hand, Daily SAR is placed at 168,378. With recent consecutive price fall, we can observe a decline in OI level to 5990 lots in April contract. RSI levels also declined below 40 level on Daily chart. Also, on Weekly MACD, we can find a bearish crossover with emergence of negative histograms.

The overall trend in Gold price is expected to be Moderately Bearish in the coming week, and traders should keep an eye on key US economic data such as Manufacturing and Services PMI and Unemployment claims which are scheduled to be in next week.

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Prediction given by Technical Research Team - Choice.