Gold price today: Gold rate, silver price predictions by experts are out. Check here

Gold and silver are likely to experience volatile week as prices may fluctuate, according to experts. There are several factors that will drive gold price and silver rate in the upcoming week. While the US bonds yields already have negative impact on gold rate, surging crude oil prices along with the US Federal Reserve's policy decision could determine whether bullion rates stabilise or extend their downward trend, analysts said.

Higher US Treasury yields and a stronger dollar have curtailed recovery attempts in precious metals, leaving prices vulnerable to further selling pressure, bullion experts have said.

Gold Price Prediction

In international markets, Comex gold futures for the December delivery declined USD 173.2, or 4.14 per cent, over the past week, to close at USD 4,007.9 per ounce. The yellow metal briefly slipped to USD 3,989 on Friday before recovering above the USD 4,000 level. Silver futures fell USD 3.35, or nearly 6 per cent, to settle at USD 53.95 per ounce.

The precious metals, already battered by elevated bond yields and a stronger dollar, will look to the Federal Reserve's October 27-28 meeting and its chair's commentary for signals on whether interest rates could stay higher for longer.

The focus will also be on policy decisions from the European Central Bank and the Bank of Japan, along with US durable goods orders, consumer confidence, Personal Consumption Expenditures inflation and third-quarter GDP data.

Eurozone inflation readings, developments around the US mid-term elections, Russia-Ukraine peace talks and the West Asia conflict will also remain on the radar, they added.

Gold Rate Risks

"The near-term outlook remains cautious, with gold likely to remain under pressure until there is greater clarity on the Federal Reserve's policy path. The upcoming decision could determine whether prices stabilise near current levels or extend their corrective trend," said Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities.

"Gold futures continued their corrective momentum with prices globally falling below USD 4,000 per ounce, closing the week down by 4 per cent," said Pranav Mer, Senior Vice President, EBG - Commodity & Currency Research, JM Financial Services Ltd.

Silver Price Prediction

Silver's decline reflected weakness across industrial metals and gold, alongside softer demand as industries explore alternatives or reduce their use of the white metal in response to high prices, Mer said. Mer said elevated energy costs were adding another layer of pressure on bullion.

Brent crude settled above USD 117 per barrel, stoking concerns that persistent inflation could prompt global central banks to maintain tighter monetary policies or consider further rate hikes.

Trivedi said the sustained correction also highlights how sensitive investors have become to changing expectations around interest rates. The US Fed's policy announcement and the chair's commentary will therefore be central to bullion's direction in the coming week.

"A hawkish stance, signalling limited scope for rate cuts or the possibility of further tightening, could strengthen the dollar and push yields higher, creating additional pressure on bullion. Conversely, a less hawkish tone could trigger short covering and provide some relief to prices," Trivedi added.