NewsSignals AI analysis·Moneycontrol·Nov 3, 2026

Gold spending is rising even as Indians buy less jewellery: WGC report

Grade Bbullish AI signal$XAU

Indian gold jewellery spending rose 29% to Rs 3,618.3 billion in the first nine months of 2026, even as demand volumes dropped 18% year-on-year to 241.1 tonnes, according to the World Gold Council. The average domestic gold price reached Rs 1,48,891 per 10 grams in Q3, around 45% higher than a year earlier, while consumers increasingly shifted towards lighter pieces and lower-carat jewellery. Wedding and festive demand could support a fourth-quarter recovery, but elevated gold prices may continue pressuring physical demand volumes.

Bullish strength: 65/100

Gold jewellery spending increased 29% despite lower purchase volumes.
Average domestic gold prices were approximately 45% higher year-on-year.
Wedding and festive purchases could support fourth-quarter demand.

Bearish strength: 35/100

Jewellery demand declined 18% year-on-year to 241.1 tonnes.
Q3 jewellery consumption fell 20% year-on-year.
Affordability constraints are reducing physical gold purchases.

This is automated NewsSignals analysis of third-party reporting, not independent original reporting or investment advice. AI scores are not price predictions.

Read the original source ↗

← Browse more news analysis

Trade on MEXC

More recent source-attributed AI analysis in macro.

Gold climbs to two-week high as dollar, yields weaken

Gold climbed 1% to $4,102.50 per ounce, reaching its highest settlement since October 21 as a weaker US dollar and falling Treasury yields boosted demand. The 10-year Treasury yield dropped 5.5 basis points to 4.836%, while silver gained 0.2% to $52.233 per ounce. Gold could face renewed selling pressure if Friday's US jobs report strengthens expectations for a December Fed rate hike, despite improving near-term momentum.

Goldman Sachs trims gold forecasts as Fed stays hawkish

Goldman Sachs cut its end-2026 gold price forecast to $4,150 per ounce from $4,650 and its end-2027 target to $4,800 from $5,400, citing the Federal Reserve's increasingly hawkish policy stance. The bank warned that higher oil prices and equity-market drawdowns could trigger additional gold selling, while central-bank demand and long-term investor interest remain supportive. Lower price targets could pressure gold sentiment, although persistent structural demand may limit downside and support longer-term prices.

Goldman Sachs lowers gold price forecasts on hawkish Fed outlook

Goldman Sachs cut its end-2026 gold price forecast to $4,150 per ounce from $4,650, citing the Federal Reserve's increasingly hawkish policy outlook. The bank also reduced its end-2027 forecast to $4,800 from $5,400, warning that higher interest rates could weigh on investor demand despite continued central-bank buying. Persistent monetary tightening and potential oil-driven selling could pressure gold, although structural central-bank demand and fiscal-risk hedging may limit downside.

Treasury Yields Hover Around Two-Month Lows Ahead of Payrolls — Market Talk

U.S. Treasury yields are hovering near two-month lows as bond markets increasingly price in the possibility of a December Federal Reserve rate hold ahead of October payrolls. The 10-year yield fell to 4.836% and the two-year to 4.475%, while December rate-hold odds climbed to 35% from 17% in one day. Tomorrow's jobs report could trigger a sharp repricing of rate expectations, potentially driving renewed volatility across Treasury yields, the dollar and gold.