Gold prices seen bullish by year-end amid dollar uncertainty, falling oil prices and strong investment demand: Analysts

Gold prices are expected to stay bullish into late 2026, supported by uncertainty around the US dollar, falling crude oil prices, and strong investment demand, analysts say. Amit Gupta of Kedia Advisory Services pointed to central-bank buying, gold exchange-traded fund (ETF) inflows, expectations of monetary easing, and geopolitical developments as key drivers. He cited Federal Reserve rates held at 3.75–4.00% on October 28, 2026, making the December decision crucial. Gupta also noted 321 tonnes of central-bank purchases in Q3 2026 (+42% year-on-year) and record ETF holdings. Risks include a hawkish Fed, stronger US data, higher oil, ETF outflows, and profit-taking. Analysts flagged $3,800 as support and $4,155–$4,240 as resistance.