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Gold nears key support at $3,886 amid outflows and inflation worries, but long-term outlook remains bullish.

Market News
27 Oct 2026, 20:39 WIB
Kitco
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Neutral
Gold nears key support at $3,886 amid outflows and inflation worries, but long-term outlook remains bullish.

Gold prices have dropped below $4,000, nearing a critical support level at $3,886 an ounce, with renewed outflows from gold-backed ETFs and broader market sell-offs driven by inflation concerns and potential U.S. rate hikes. Despite short-term risks from elevated energy prices and a strong U.S. dollar, Standard Chartered forecasts gold to rise to $4,650 by Q4 and $4,850 by early 2027, supported by physical demand from Asia, especially India and China. Investors are cautious as speculative positions hit lows, but seasonal buying around India's Diwali festival and central bank purchases may stabilize prices. Volatility may persist if inflation and oil prices remain high, but the long-term view on gold remains positive.

Gold price developments provide context for Pluang's market snapshot as of Oct 28, 2026 00:21 WIB: Among 150 US stocks, 87 rose and 63 fell. Virgin Galactic Holdings (SPCE) gained 4.69% with 90% buy orders, contrasting with Accenture plc (ACN) which dropped 4.70% and had 93% sell orders. ASE Technology Holding (ASX) also rose 4.59% despite 73% sell orders, showing varied investor sentiment.

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