Gold price prediction today: Where are gold prices headed? Check outlook for September 7, 2026 week - The Times of India

AI desk brief

Gold has slipped into a corrective phase after heavy selling from the Rs 163,000–164,000 zone, with prices now around Rs 152,300 and below the 20-day average. The near-term technical picture has turned cautious: Rs 160,000–163,500 is now a clear supply zone, while Rs 152,000 is the key pivot and immediate support. A break lower risks extension toward Rs 149,000–149,300, with Rs 146,000 seen as deeper support.

Technicals reinforce the softer tone. The 20-day average is Rs 156,358, with Bollinger Bands at Rs 163,463 on the upside and Rs 149,254 on the downside. Gold is testing the 50% Fibonacci retracement of the recent rally from roughly Rs 140,000 to Rs 164,000, making Rs 152,000 a critical level to watch; resistance is mapped at Rs 154,800, then Rs 156,300–158,300.

On the macro side, the move lower is being driven by stronger US labor data: August nonfarm payrolls rose 162,000 versus around 55,000 expected, while the unemployment rate held at 4.1%. Markets lifted the implied probability of a 25 bp Fed hike at the Sept. 15–16 meeting to about 60%, which has supported the dollar and pressured non-yielding bullion. Geopolitical tensions in the Gulf are offering some safe-haven support, but this week’s US PPI and CPI will likely be the main catalyst for the next leg.