Is Gold Headed for a Fall or Gearing Up for ₹1,50,000 in 2026
Gold Price Record High: As the year draws to a close, gold prices continue to surge with no signs of slowing. The price of 10 grams of 24-karat gold has touched ₹1.40 lakh, making this year historic for the yellow metal. Gold has gained over 70% so far in 2025, rising from ₹83,680 at the start of the year and now inching closer to the ₹1.50 lakh mark.
What’s the Outlook for Next Year? Investors are now wondering whether this rally will continue in 2026. Analysts at JP Morgan believe gold prices could reach $5,000 per ounce by December next year, which translates to around ₹1.58 lakh per 10 grams. A Goldman Sachs survey also projects a potential 36% rise in gold prices next year, with similar price levels. These estimates exclude India’s 3% GST and stamp duty.
Why Are Gold Prices Rising? Geopolitical tensions remain the biggest driver behind the surge. The prolonged Russia-Ukraine war, concerns over crude oil supply disruptions, and reports of US military action in parts of Africa have increased global uncertainty. As a result, investors are moving away from risky assets like equities and shifting funds into safe havens such as gold and silver.
Rate Cuts and Central Bank Buying Add Fuel: Another key factor is expectations of interest rate cuts by the US Federal Reserve next year. Lower rates reduce the appeal of fixed-income instruments, pushing investors toward gold. Rising investments in Gold ETFs and aggressive gold buying by global central banks have further supported the rally.
