Gold price prediction today: Why gold will continue to be under pressure; check November 3, 2026 outlook - The Times of India

AI desk brief

Gold is seen capped near-term unless it breaks 4,030-4,066, with support at 3,900/3,875/3,800/3,750 as the market tracks Iran-related oil volatility, US midterm politics and Friday’s payrolls. Spot gold was cited at $3,959 after a 2% rebound on Nov. 2, following a 3.02% weekly drop to $3,875, while Brent slid to $105.77 (-7%) on hopes of renewed US-Iran peace talks.

Positioning and flows are less supportive: known global gold ETF holdings eased 0.17 Moz to 100.97 Moz for the week, and CFTC money managers cut net longs by 1,281 lots to 107,404, the least bullish in 20 weeks. Dollar Index softened 0.10% to 101.70, but two-year Treasury yields rose to 4.605% and the article argues gold remains vulnerable to a test of $3,750 without a credible US-Iran de-escalation or a sharply weak nonfarm payrolls report.