Gold price prediction: Gold rate eyes annual gain since 1979 but experts warn of corrective phase in November

Gold rate is on track for its annual gain in over four decades even as Gold prices are expected to remain in a corrective phase in the coming week, bullion experts have said. After retreating 10 per cent from its record high above USD 4,390, gold is on course for a third straight weekly loss but remains up more than 50 per cent year-to-date -- its strongest performance since 1979.

Bullion traders will also closely watch comments from US Federal Reserve officials for clarity on the monetary policy outlook, which is likely to steer the near-term direction for bullion prices, experts added.

Gold prices are expected to see some consolidation or more correction as focus will be on the inflation numbers, US Supreme Court hearing on tariffs, speeches from Fed officials, and Chinese data, Pranav Mer, Vice President, EBG - Commodity & Currency Research, JM Financial Services Ltd, said.


Gold is on track for its annual gain since 1979, and if the current fundamental factors are in force, the volatility might drive a further rally in gold prices soon, Prathamesh Mallya, DVP - Research, Non-Agri Commodities and Currencies, Angel One, said.

In the international market, Comex gold futures for December delivery gained USD 13.3, or 0.33 per cent, during the past week, to settle at USD 4,009.8 per ounce on Friday.

Gold hovered just near USD 4,000 an ounce this week, stabilising after sharp swings driven by shifting expectations over US monetary policy and labour market data. The metal briefly gained after reports showed US firms announced the highest October job cuts in over two decades, bolstering the case for a December rate cut, Riya Singh, Research Analyst, Commodities and Currency, Emkay Global Financial Services, said.

However, mixed signals from Federal Reserve officials and the absence of key inflation data due to the ongoing US government shutdown tempered optimism, she added.

Singh attributed the surge to rate cuts, persistent central bank purchases exceeding 600 tonnes so far in 2025, and steady inflows into gold-backed exchange-traded funds.

FAQs

Q1. Why is silver price rising?
A1. Silver steadied above the USD 48 per ounce mark, supported by safe-haven demand amid the US government shutdown concerns and shifting expectations over the Federal Reserve's policy path," Riya Singh, Research Analyst, Commodities and Currency, Emkay Global Financial Services, said.

Q2. Why is Silver becoming costly?
A2. Washington's move to add silver, along with copper and uranium, to its official list of critical minerals marked a significant policy shift. The inclusion raises the total number of critical minerals to 60, and could lead to new tariffs and trade restrictions under the administration's Section 232 probe.