Gold price prediction today: Where are gold prices headed in Dhanteras week? Check November 4, 2026 outlo - The Times of India

AI desk brief

Article summary

Anand Rathi analyst Vedika Narvekar expects gold to trade sideways during Dhanteras week, forecasting $3,860–4,100/oz, approximately Rs 1,36,500–1,45,500 on MCX. The article reports spot fell 3.04% last week to $3,874.62 before rebounding above $3,960 as projected Democratic congressional victories coincided with lower Treasury yields and a weaker dollar. Citing WGC Q3 figures, it reports ETF additions of 211 tonnes versus Q2 outflows of 47 tonnes, central-bank purchases of 321 tonnes and year-to-date demand of 3,881 tonnes, while jewellery and bar-and-coin demand fell 17% and 19%, respectively. Narvekar sees support from official buying and subdued festive demand but limits gains on an anticipated December Fed hike, elevated oil and possible ETF selling; she requires a close above $4,000 to restore a neutral technical view, with spot support at $3,860/$3,800 and resistance at $4,100/$4,180.

Market implications · analysis

Reported ETF additions and official purchases could support gold over the coming week, but quarterly flows do not establish continuing daily demand. A sustained weaker dollar could help; lower nominal yields alone do not establish lower real yields. Oil-related policy tightening and weak price-sensitive physical demand are counterforces. Near-term direction is mixed, with moderate evidence confidence; the range and Fed call remain analyst forecasts, not verified outcomes.