Gold Price Forecast for Next Week

Gold Price Forecast for Next Week (28th  July - 1st August 2025)

Comex Gold spot has been traded negatively over the course of the week, experienced profit-booking from $3438 in past three sessions, closed at $3336 / ounces.

Gold was supported early in the week by safe haven flows amid trade and geopolitical worries, especially with looming tariff deadlines from the U.S. With weakening dollar and Treasury yields, gold rose to a multi week high. But talks of U.S.–EU and U.S.–Japan trade deals dampened uncertainty, triggering a pullback. Strong U.S. labor data further reinforced expectations of no immediate Fed rate cuts, and a firmer dollar and higher yields reversed most gains. Investors are now eyeing the upcoming Fed FOMC meeting for direction.

MCX Gold October contract has continued its upside momentum in Rising channel, sustaining over all key moving averages i.e. 50, 100 and 200-DEMA levels placed at 97770, 94810 and 89182 respectively. Daily SAR is placed at 98026. Gold price has made a all time high in Indian Market at 101,000, however it has experienced a profit-booking in past three consecutive sessions and closed on a negative note at 98764. RSI levels trailing upwards above 50 level on Daily – Weekly chart. On MACD, we can observe a bearish crossover above zero-line with emergence of negative histograms on Weekly chart.

In coming week, we are expecting Sideways to Bearish trend in Gold price and price traders should keep an eye on key US data of Advance GDP, GDP price index, Job openings, PCE price index, Personal spending and Unemployment Claims along side Federal Interest rate decision which are scheduled to be release in next week.

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Prediction given by Technical Research Team - Choice.