Gold Price Forecast for Next Week

Gold Price Forecast for Next Week (10th Aug - 14th Aug 2026)

Comex Gold surged to a seven-week high, heading for its strongest weekly gain in seven months, after a surprise decline in U.S. nonfarm payrolls for July reduced expectations of a Federal Reserve rate hike. Falling wages, lower labor-force participation and softer employment conditions reinforced expectations of a less hawkish policy stance, while easing Treasury yields lowered the opportunity cost of holding non-yielding bullion. Lower energy prices also supported sentiment by reducing inflationary pressures, despite uncertainty surrounding U.S.-Iran negotiations over the Strait of Hormuz. Meanwhile, Chinese investors increased gold-backed asset positions amid equity-market volatility and firm physical demand. China's central bank extended its gold-buying streak to 21 months in July, lifting holdings to 76.08 million fine troy ounces. Markets now await U.S. CPI, PPI, retail sales and consumer sentiment data for further rate signals.

Gold price has paused its bearish momentum and made a surge of more than +6% in the past week and settled on a positive note at 151,985. Price has formed a Rounding bottom formation at the dips of the chart and continued to trade over its all key moving averages i.e. 50 and 200-DEMA levels placed at 146,588 and 141,581 respectively. Neckline resistance of Rounding bottom would be around 154,000 and breakout of this level will boost upward momentum in Gold price in upcoming week. Along with a price rise, we can observe a rise in Ol level to 10,440 lots, suggesting Long buildup. RSI levels remained firm over 50 mark on all key timeframes.

The overall trend in Gold price is expected to be Sideways-to-Bullish in the coming week, and traders should keep an eye on key US economic data such as Inflation, PPI, Consumer sentiment and Unemployment claims which are scheduled to be release in next week.

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Prediction given by Technical Research Team - Choice.