Nomura forecasts further decline in gold prices by eleven percent soon

Major news is emerging from the market for individuals planning to purchase gold, as recent days have witnessed a sharp decline in gold prices. Market experts believe this downward trend is far from over. At the start of the year 2026, gold surged dramatically, crossing the record milestone of five thousand five hundred dollars per ounce. However, market sentiments have shifted completely, and gold is now trading below four thousand dollars in the international market. More than eight percent of losses have already been recorded in gold prices this year, with continuous profit booking keeping strong pressure on the market.

Gold prices could become cheaper by over fifteen thousand rupees in India

Apprehensions of an even larger decline in gold prices are currently being projected. Renowned brokerage firm Nomura has shared a major estimation in its latest research note. According to Nomura, international gold prices could fall further to reach the level of three thousand five hundred dollars per ounce. Currently, gold is hovering around the existing level of three thousand nine hundred forty-seven dollars per ounce, providing a direct indication of an approximate eleven percent further drop from these levels. When evaluated through the lens of the Indian market, the existing price of ten grams of gold in the country is approximately one lakh thirty-nine thousand rupees. If an eleven percent correction materializes in accordance with Nomura's projection, gold in India will become cheaper by nearly fifteen thousand two hundred ninety rupees, while following this significant reduction, the price of ten grams of gold in the domestic market could drop down to the level of one lakh twenty-three thousand rupees.

Continuous profit booking increases selling pressure across the market

Specific market dynamics and economic reasons are driving this ongoing correction in gold. According to Jatin Trivedi, VP Research Analyst at LKP Securities, investors are engaging in continuous profit booking within the market. This exact behavior is keeping persistent pressure on gold prices, while driven by heavy selling, gold prices are now approaching dangerously close to the oversold zone. Jatin Trivedi further noted that the influx of fresh buying interest is absolutely essential for a sustainable recovery in gold. On top of that, supportive global cues will remain crucial in stabilizing price trajectories.

Upcoming US election outcomes and economic data to determine price trends

Global markets will closely monitor crucial data originating from the United States throughout this week, while jatin Trivedi explained that the market will closely watch American elections, domestic unemployment figures, and non-farm payroll data. All these economic metrics will offer clear indications regarding the future policy stance of the United States central bank, the Federal Reserve, while from a technical perspective, the level of one lakh forty-two thousand rupees acts as a vital resistance barrier for gold. Unless gold trades securely above this threshold, expectations for near-term bullish momentum remain minimal. Meanwhile, Kaynat Chainwala, AVP at Kotak Neo, stated that the results of the United States midterm elections could directly influence gold valuations, while these election outcomes will reveal the upcoming energy policies of America alongside Washington's future stance regarding Iran. All these global events will directly impact the movement of gold in the coming days.