Gold Price Prediction 2026 In India: Month-Wise Outlook And Targets
What a year 2025 has been for gold. Amidst the uncertainties due to rising geopolitical tensions, tariff wars, and growing recession fears, the precious yellow metal has jumped over 70% this year.
The glittery gold had started the year around the INR 76,500 mark (per 10 grams of 24K gold), and it went on to cross the historic INR 1 lakh mark in April. The rally did not stop there. Gold prices went on to scale newer highs later on as well, eventually breaching INR 1.3 lakh per 10 grams by December 2025.
Gold Price Today (Updated Weekly)
Gold scripted history on 29 January 2026, surging to an all-time high of INR 1,78,850 per 10g (24K) in retail markets with MCX futures briefly touching INR 1,92,991 per 10g intraday driven by geopolitical tensions, a Fed rate pause, and strong safe-haven demand. After a sharp correction of 4–5% from peak levels, analysts say the broader bull run remains intact.
Metric | Value |
24K Gold (per 10g) | INR 1,57,450 (As of 29 May 2026) |
22K Gold (per 10g) | INR 1,44,329 (As of 29 May 2026) |
Week-on-Week Change | Up marginally by around 0.02% from previous close |
What’s Driving It | US-Iran geopolitical uncertainty, expectations around US Fed policy, safe-haven buying, central bank accumulation, and continued global macroeconomic volatility |
So yes, 2025 has been a stellar year for gold, but the big question now is: can this momentum continue into 2026? Or the yellow metal will crash and give investors the jitters? Here is what is being expected from gold in 2026:
Is Gold Expected To Keep Shining In 2026?
The first prediction is by the World Gold Council, whose forecast can surely make you happy as a gold investor.
The council, which is an international trade association of the world's leading gold producers,
is expecting gold’s prices to rise up to 30% from its current levels, in 2026.
Second is Goldman Sachs, which is one of the world’s biggest investment banks. The American bank, too, has an optimistic view and expects gold to rise up to 20% in 2026.
As per these expectations of an up to 20%-30% jump (by Goldman Sachs and WGC), gold’s prices can go towards the range of Rs 1.8 lakh- Rs 2 lakhs by the end of 2026.
Expert Price Targets For Gold in 2026
Institution | Gold Price Target (USD/oz) | India Equivalent (INR /10g) | Timeline |
Goldman Sachs | $5,400 | INR 1,70,000–INR 1,90,000 | End-2026 |
J.P. Morgan | $6,300 | INR 2,00,000+ | End-2026 |
Motilal Oswal | — | INR 1,80,000–INR 2,00,000 | Late 2026 |
Note: INR equivalents assume continued rupee weakness. Targets may vary with currency movements.
Also Read: Gold As A Macro Hedge: Why Investors Turn To Gold In Uncertain Times
Gold Price Forecasts
The table below shows the gold price forecast for 2026 and 2027, with quarterly estimates from JP Morgan Commodities Research. It highlights how analysts expect gold prices to trend higher over the next two years, supported by global uncertainty, central bank demand, and changing interest rate expectations.
| Period | Gold Price Forecast |
| Q1 2026 | 4,440 |
| Q2 2026 | 4,655 |
| Q3 2026 | 4,860 |
| Q4 2026 | 5,055 |
| 2026 Average | 4,753 |
| Q1 2027 | 5,140 |
| Q2 2027 | 5,170 |
| Q3 2027 | 5,270 |
| Q4 2027 | 5,400 |
| 2027 Average | 5,245 |
Source: JP Morgan
Gold Price Prediction Month-by-Month 2026
1. Jan–Mar 2026: What Actually Happened
Gold opened 2026 at approximately INR 1,30,000/10g in January and steadily climbed through February.
By 2 March 2026, it hit an all-time high of INR 1,69,349 per 10g, fuelled by the Middle East conflict and a rush of safe-haven buying. A mild correction followed, bringing prices to ~INR 1,56,000 by mid-March.
| Avg Range: INR 1,30,000 – INR 1,69,000 per 10g |
2. Apr–Jun 2026: Wedding Season + Akshaya Tritiya Push
April to June is India's peak gold demand season — Akshaya Tritiya (considered the most auspicious day to buy gold) typically generates INR 12,000+ crore in single-day sales.
The packed April–June wedding calendar adds further jewellery demand. Even at elevated prices, cultural buying sentiment remains resilient — as seen in 2025 when demand held strong despite record prices.
| Predicted Range: INR 1,55,000 – INR 1,75,000 per 10g |
3. Jul–Sep 2026: Festive Build-Up (Raksha Bandhan, Ganesh Chaturthi)
Festive gifting demand, particularly gold coins and jewellery for Raksha Bandhan, traditionally kicks in from July. Import pre-positioning by jewellers ahead of Ganesh Chaturthi also supports prices.
If global tensions remain elevated and the Fed holds rates, a fresh rally toward INR 1,80,000 is plausible.
| Predicted Range: INR 1,65,000 – INR 1,85,000 per 10g |
4. Oct–Dec 2026: Diwali + Winter Weddings = Peak Demand
The October–December quarter is historically gold's strongest period in India - Dhanteras alone drives some of the highest single-day gold sales nationally. Combined with December wedding season demand and year-end portfolio rebalancing by institutions, this quarter could see gold test the INR 2,00,000/10g level if expert targets from Goldman Sachs and J.P. Morgan materialise.
| Predicted Range: INR 1,80,000 – INR 2,00,000+ per 10g |
Why Gold Is Surging In 2026 - The War Factor
Gold crossed $5,300 per ounce for the first time in history in late February 2026, driven by escalating geopolitical tensions, primarily the intensifying Middle East conflict and renewed US–Iran friction.
When wars flare up, institutional capital rotates out of equities and into safe-haven assets like gold, which carries no counterparty risk.?
Beyond geopolitics, three macro forces are supercharging gold in India:
- Weak Rupee: Every INR 1 depreciation against the USD directly inflates domestic gold prices?
- Fed Policy: A prolonged rate pause keeps real yields low, making gold more attractive vs. bonds?
- Central Bank Buying: Global central banks continue accumulating gold reserves, tightening supply
Also Read: Digital Gold Investment In India: How Safe And Profitable Is It?
Conclusion
We have shared with you what industry experts are predicting about gold prices for 2026. The outlook certainly seems to be positive for the precious yellow metal. And it is not just about carrying on the strong momentum of 2025, but also the associated factors that have been contributing to the glittery yellow metal’s rise.
Nonetheless, whether gold is able to continue its bull run in 2026 or not, that remains to be seen. We will have to wait and watch how the year turns out for it.
FAQs On Gold Price Prediction
References:
1. Gold, accessed from: https://www.gold.org/goldhub/research/gold-outlook-2026
2. Reuters, accessed from: https://wwwa.reuters.com/business/finance/gold-forecast-glitter-again-next-year-despite-biggest-gain-since-1979-2025-12-17/
3. NDTV, accessed from: https://www.ndtvprofit.com/markets/gold-at-rs-15-lakh-in-2026-kotak-forecasts-prices-entering-new-orbit-on-rate-cuts-dollar-risks
4. World bank, accessed from: http://blogs.worldbank.org/en/opendata/gold-shines-amid-uncertainty
5. IBJA, accessed from: https://ibjarates.com/
6. Bloomberg, accessed from: https://www.bloomberg.com/news/videos/2025-11-26/goldman-sachs-sees-gold-rising-almost-20-in-2026-video#:~:text=Yes%2C%20we%20look%20for%20nearly,repeated%20in%2026%2C%20number%20one.
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