Gold price prediction today: Gold prices are likely to remain well supported in the near-term, says Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial services Ltd. He shares the outlook on gold prices and strategy for gold investors:Gold prices surged to record highs on both Comex and the domestic front last week, while silver also hit new domestic peaks and touched its highest level on Comex since 2011, driven by safe-haven demand amid escalating geopolitical tensions and growing expectations of a US Federal Reserve rate cut. Investor sentiment was further bolstered by weak US labor market data, including a sharp slowdown in non-farm payrolls, which rose by just 22,000 in August against expectations of 75,000, and a rise in the unemployment rate to a near four-year high of 4.3%.These developments have solidified expectations for a 25-bps rate cut at the Fed’s upcoming September meeting, with markets now pricing in a nearly 100% probability and even starting to discount a 10% chance of a larger 50-bps cut. Central bank buying added further support, with China increasing its gold reserves for the 10th straight month and Poland proposing to raise its reserve target from 20% to 30%.ETF inflows into gold hit their highest since June 2023, and speculators increased net long positions by over 20,000 contracts. Despite some profit booking, gold held firm near the key $3,600 level and is on track for its best week in three months.This week, all eyes are on the upcoming US inflation data—Consumer Price Index (CPI) and Producer Price Index (PPI)—scheduled just days ahead of the critical Federal Reserve meeting. These data points will be key in confirming whether inflationary pressures are easing enough to warrant the expected 25 or more rate cut. A softer-than-expected inflation data could further weigh on the Dollar index, which has already been under pressure, and further support the bullion rally.Conversely, if inflation surprises to the upside, it may complicate the Fed’s decision for additional rate cuts ahead and influence Governor Powell’s speech at the meet, potentially capping some gains for gold and Silver. However, with labor market data already showing clear signs of cooling and market participants fully pricing in a cut, gold is likely to remain well-supported unless inflation data drastically changes the outlook.Stance: Buy on Dips.Supports and Resistances: 1,06,000 to 1,04,000 – 1,08,000 to 1,10,000(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)

Travellers are facing severe disruption as few to no London Underground services are expected from Monday amid walkouts by thousands of workers.

Members of the Rail, Maritime and Transport union (RMT), including drivers, signallers and maintenance workers, launched a series of strikes over pay and conditions.

The action kicked off on Sunday with limited services running but levels of disruption are set to ramp up as Transport for London (TfL) warned there will be few or no services between Monday and Thursday.

No trains will be running before 8am and passengers are asked to complete journeys by 6pm.

There will also be no Docklands Light Railway services on Tuesday and Thursday because of a strike by RMT members in a separate pay dispute.

TfL has offered a 3.4% pay rise which it described as “fair” and said it cannot afford to meet the RMT’s demand for a cut in the working week.

Nick Dent, London Underground’s director of customer operations, said union demands for a cut in the 35-hour week were “simply unaffordable” and would cost hundreds of millions of pounds.

The last Tube-wide strike was three years ago, over pay and pensions, but Mr Dent said this week’s action will be different because separate groups of workers will walk out on different days.

“It will be very damaging for us,” he added.

An RMT spokesperson said: “We are not going on strike to disrupt small businesses or the public.

“This strike is going ahead because of the intransigent approach of TfL management and their refusal to even consider a small reduction in the working week in order to help reduce fatigue and the ill health effects of long-term shift work on our members.

“We believe a shorter working week is fair and affordable, particularly when you consider TfL has a surplus of £166 million last year and a £10 billion annual operating budget.

“There are 2,000 fewer staff working on London Underground since 2018 and our members are feeling the strain of extreme shift patterns.

“London Underground is doing well financially and all our members want is fair consideration. But TfL is refusing to even consider marginally reducing the working week, citing costs ranging from tens of millions to now hundreds of millions.

“We remain open to talks, securing a negotiated settlement and call on the mayor of London to intervene.”

Passengers have been urged to check before they travel, with buses as well, which are expected to be busier than usual.

Changes to property taxes designed to “level the tax playing field” between high street and online retailers will hit shops including supermarkets and department stores hardest, according to new analysis.

Research by global tax services firm Ryan found the changes to business rates coming into force next year will hit thousands of physical stores with major bill increases.

Experts have said the “policy risks penalising the very businesses that anchor the high street”.

From April 2026, the Treasury will introduce a new business rates surcharge of up to 10p on properties with a rateable value (RV) of £500,000 or more.

It has previously said the surcharge is designed to permanently fund reduced levels of the commercial property tax for smaller retail, leisure, and hospitality premises.

The Government said that the measures launched at the previous autumn budget were intended “to level the playing field for the high street”.

Analysis of official Government data by Ryan found that retail, leisure and hospitality businesses are likely to face up to £482 million a year in extra business rates on just their physical premises alone.

The data shows that warehouses and distribution operators will face a smaller hit of about £262 million.

Meanwhile, almost three times as many retail, hospitality and leisure properties – 4,353 – could be impacted compared to 1,589 large distribution warehouses.

The research indicated that more than 1,803 large supermarkets would see rate increases.

Meanwhile, there would be an increase of about £75 million across 650 UK hospitality businesses, with an increase of up to £48.5 million across 429 leisure properties.

Alex Probyn, practice leader for property tax at Ryan, said: “The bluntness of this policy is stark.

“Only 129 properties are pure online retailers, yet thousands of supermarkets, department stores and out-of-town chains — plus the HQs and distribution centres that support them — will be dragged into this new tax.

“Instead of targeting the online operators it was designed to address, the policy risks penalising the very businesses that anchor the high street and provide mass employment.”