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Gold May Find Support at $3800 as Central Banks and Investors Keep Buying
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CNBC TV18•14-10-2026, 15:44
Gold May Find Support at $3800 as Central Banks and Investors Keep Buying
- •Gold prices could find strong buying support between $3,800 and $3,900 an ounce, driven by central bank purchases and sustained investment demand.
- •In India, rupee appreciation and high domestic prices have impacted physical jewellery demand, pushing consumers toward lower-carat and lightweight options.
- •Investment purchases in India have surged, rising from around 30% to 50-55% of total gold demand over the past year.
- •India's gold and silver imports are projected to decline by 20-30% in 2026 compared to 2025 due to high prices and subdued jewellery demand.
- •Global ETF inflows and central bank buying remain key long-term price drivers, even as high prices boost recycled gold supply.
Key Questions Answered
Gold prices could find strong buying support in the $3,800 to $3,900 an ounce range, according to Chirag Sheth from Public Gold Bullion SG.
Investment purchases have grown significantly, with their share in India's gold demand rising from approximately 30% to between 50% and 55% in some quarters.
India's gold and silver imports are expected to decline by 20% to 30% in 2026 compared to 2025 levels due to high domestic prices and subdued jewellery demand.
