Gold Prices Could Reach ₹1.5 Lakh by 2026
Gold prices are poised for a significant rally, potentially hitting ₹1,50,000 per 10 grams by 2026, according to a new analysis from Ventura Securities. The precious metal has already delivered impressive returns of 63% in rupee terms and 53% in dollar terms since the previous Dhanteras.
Key Drivers Behind Gold’s Surge
- Dovish signals from the U.S. Federal Reserve
- Substantial ETF inflows and central bank purchases
- Rising US debt concerns and economic uncertainty
- Escalating trade tensions between US and China
Record Price Movement
Gold prices have skyrocketed since March 2025, climbing from $3,000 per ounce to approximately $4,254. In the Indian market, prices surged from ₹78,840 per 10 grams during Dhanteras 2024 to the current level of ₹128,200.
Analysts Predict $5,000 Milestone
“Starting the next rally from Dhanteras 2025, the unchartered territory of $5000 per ounce or Rs 1,50,000 per ten grams could be in 2026,” the report noted.
US Economic Factors Supporting Gold
N.S. Ramaswamy, Head of Commodities & CRM at Ventura, highlighted growing concerns about the US labor market that justify further rate cuts.
“Due to the delay of economic data (employment and inflation) as the US government is on shutdown mode, focus is on FED Chair Powell who signalled that rising labour market risks justify another rate cut,” said Ramaswamy.
He added that the United States faces increasing challenges in debt servicing, with national debt reaching $37 trillion.
Trade Tensions Add to Gold’s Appeal
Recent escalation in US-China trade relations has further boosted gold demand. China announced tighter export restrictions on rare earth metals and magnets, while the US imposed additional 100% tariffs on Chinese imports beyond the existing 30% levy.
Strong Investor Confidence
Gold has recorded eight consecutive weekly gains, reflecting robust investor sentiment. The report noted that price pullbacks are being met with aggressive buying, indicating strong FOMO (fear of missing out) among investors.
