Gold price prediction today: Why are gold prices down to 7-week low? Check September 30, 2026 outlook - timesofindia.indiatimes.com

AI desk brief

Gold has dropped nearly 12% from its August highs to a seven-week low of $4,111/oz, with a firmer dollar and elevated Treasury yields the main headwinds. The article says ETF holdings have still climbed toward a multi-year high, suggesting underlying investor support even as the short-term bias stays cautious.

Key near-term catalysts are today’s US PCE inflation print and Friday’s jobs report, which will shape October Fed expectations. A soft PCE or weak payrolls could ease yields and support a rebound toward $4,300/$4,380, while hot data would likely revive hike bets and keep pressure on the $4,100/$4,025 support area, with a downside test of $4,000 possible.