Manav Modi, senior analyst at Motilal Oswal, said gold will open the week at Rs 150,750, rebounding from a trough near Rs 146,500 on Oct 12 2026.
Gold’s daily structure nudged above the 20‑day average, hinting a pause in selling pressure after a sharp dip to the Rs 146,000–147,000 band. The 20‑day average sits at Rs 150,263, and the Bollinger Bands hover near Rs 155,047 (upper) and Rs 145,480 (lower), placing the metal near the middle of its range.
Support lines cluster between Rs 149,000 and Rs 150,000, with a stronger zone at Rs 145,500–147,000. A sustained fall below Rs 145,000 would expose a new danger range of Rs 140,000–142,000, while a move past Rs 155,000 would confirm a reversal and lift the narrative toward Rs 158,000–160,000, eventually chasing the September high of Rs 163,000–165,000.
Easing energy prices and a surge in gold‑backed ETF inflows—reaching a four‑year high—have bolstered investment demand. The People’s Bank of China added roughly 740,000 ounces in September, extending its 23‑month buying streak, yet Fed tightening and rising Treasury yields keep the near‑term upside in check.
Crude oil fell after the US‑Iran energy truce, softening immediate inflation fears, but Middle East volatility keeps safe‑haven demand alive. The next week’s market will hinge on Treasury yields, Fed communication, and geopolitical developments; a breach above Rs 155,000 could unlock a new upward swing to Rs 160,000 and beyond.