Estimated Gold Price: There is a big news coming from the market for those who are thinking of buying gold. In the last few days, the price of gold has seen a steep decline. In early 2026, gold surged past a record high of $5,500 an ounce. But now the market trend has changed. Gold is now trading below $4,000 an ounce in the international market. Gold prices have fallen by more than 8 percent so far this year. Market experts believe that this downward trend in gold is not going to stop yet.
Gold can get cheaper by over ₹15,000
Gold prices are likely to fall further. Renowned brokerage firm Nomura has made a big guess about this in its latest research note. According to Nomura, the price of gold in the international market may fall to the level of 3500 dollars per ounce. Gold is currently hovering around the current level of $3,947 per ounce. This means that from here too there is a direct indication of a further fall in prices of about 11 percent.
If we look at the Indian market, the current price of 10 grams of gold in the country is around ₹1.39 lakh. According to Nomura’s estimates, if it falls by 11 per cent, gold in India will become cheaper by around ₹15,290. After this big cut, the price of 10 grams of gold in the country may come down to ₹ 1.23 lakh.
Continued profit booking put pressure on the market
The market has its own reasons behind this decline in gold. According to Jatin Trivedi, VP Research Analyst, LKP Securities, the market is seeing continued profit booking by investors. Due to this reason, there is constant pressure on gold prices. Gold prices are now approaching the oversold zone due to heavy selling. Jatin Trivedi says fresh buying in the market is essential for a sustainable recovery in gold. In addition, confluence of global signals will also be important to control prices.
The results of the US election will determine future action.
Markets around the world will be watching for data coming out of the US this week. Jatin Trivedi said the market will keep a close eye on the US election, unemployment figures and non-farm payrolls data. All these data will give clear indications about the future policy of the US central bank Federal Reserve. From a technical point of view, the ₹1,42,000 level is a very important resistance for gold. Unless gold breaks above this level, there is little hope of an upside in the near term.
At the same time, Kainath Chenwala, AVP of Kotak Neo, says the results of the US mid-term elections can also have a direct impact on gold prices. The results of these elections will determine America’s next energy policy. There will also be an indication of Washington’s future stance on Iran. All these global events will have a direct impact on the movement of gold in the coming days.
