Gold price prediction today: Will gold prices continue to drop? Check September 8, 2026 outlook - timesofindia.indiatimes.com

AI desk brief

Gold is seen range-bound in the near term, with Mirae Asset ShareKhan’s Praveen Singh saying the metal should stay in a tight band after a week of mixed macro drivers. Spot gold slipped to about $4,414/oz on Sept. 7, down roughly 0.35% on the day and nearly 0.55% lower for the week ending Sept. 4, as the stronger-than-expected August US payrolls report and firmer oil prices offset some support from a softer dollar.

The key macro pivot was the Aug. nonfarm payrolls print: US employers added 162,000 jobs versus 55,000 expected, unemployment held at 4.1%, and the three-month average jobs gain was revised up to 71,000. That reinforced rate-hike expectations and pressured gold, although Trump’s comments pressing the Fed for rate cuts helped slow the decline. Elsewhere, Eurozone Q2 GDP was revised up to 0.6% q/q, US ISM services rose to 55.4 in August, and the US trade deficit widened to $90.2bn in July.

Flows remain a partial offset to the macro headwind: total known global gold ETF holdings fell for the first time in four days on Sept. 4, but are still up 102 tonnes from the July 20 cycle low, with YTD holdings up 0.49 Moz / 15.1 tonnes. Geopolitical risk also stayed supportive at the margin as Brent rose to about $97.21 intraday on Iran-US supply concerns and the Strait of Hormuz deal narrative. Near term, traders will watch whether stronger US data keeps real yields elevated; the article’s COMEX inventory section is truncated, so inventory detail is incomplete.