Gold Price Forecast for Next Week (12th October- 16th September 2026)
| Support 2 | Support 1 | Current GOLD CMP | Resistance 1 | Resistance 2 |
|---|---|---|---|---|
| 145,734 | 150,644 | 151,503 | 153,315 | 155,500 |
COMEX Gold closed the week on a steady note, below 4200$ level after touching a one-week high on Friday, driven by strong bargain buying following a dip to two-month lows, setting a positive setup for the upcoming week. Upward momentum gathered support as oil prices pulled back after President Trump ruled out pre-midterm strikes on Iran. Furthermore, constructive Miami peace talks on the Russia-Ukraine conflict and robust investor demand at US Treasury auctions provided additional macroeconomic stability. While a four-week dollar rally to April 2025 highs and CFTC data showing COMEX speculative net longs dropping by 9,599 contracts posed short-term headwinds, market sentiment leans optimistic. With CME FedWatch pricing under a 20% chance of an October rate hike, low valuations invite bullish accumulation.
MCX Gold December contract has rebounded significantly from the lows of 147,916 in past week, rebounded by more than +2% from this support-low and managed to settle on a positive note at 151,503. On weekly timeframe, price has formed indecisive candle for another week. Price has settled over its all key moving averages i.e. 50, 100 and 200-DEMA levels placed at 151311, 150644 and 145734 respectively. Immediate resistance would be at Daily SAR level placed at 153,315 and breakout of this level will boost upward momentum. However, along with price rebound, we can observe a mild decline in OI levels to 16,130 lots,, indicating lesser buyer's participation. The momentum indicator, RSI remained over 50 on Daily as well as Weekly chart. Also, we can observe a bullish crossover on Daily MACD below zero-line alongside emergence of Positive histograms, suggesting collectively positive bias in Gold price.
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, Retail sales, Industrial production and Unemployment claims; which are scheduled to be in next week.
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Prediction given by Technical Research Team - Choice.
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