Gold Prices Face Weekly Loss, But Analysts See Rebound in Long-Term

Gold prices are set for a weekly loss due to elevated US real yields and a firm dollar, but analysts predict a rebound in the long term. The metal is trading around $4,270 an ounce, down over 2.5% this week.

Elara Securities forecasts gold to trade between $4,200 and $4,700 per troy ounce for the rest of CY26, with prices potentially rising further to $5,000-$5,200 by end-CY27 as central-bank tightening softens.

According to Ashish Rajodiya, Head, Commodities at PL Capital, 'Gold is holding below $4,300 an ounce, and the dollar index has climbed to its highest level in almost two months.' The US 10-year yield is trading near 5.11%, its highest since July 2007.

Despite short-term pressure, analysts expect structural factors such as central-bank buying, reserve diversification, and rising US fiscal risks to keep the longer-term outlook supportive for gold.