Gold Prices Prediction 2026: Gold and silver prices on Tuesday rose to a three-week high amid expectations that the potential end of the US government shutdown would restart economic data releases that are likely to confirm a slowdown, increasing the odds of further US Federal Reserve rate cuts. According to analysts, gold prices might consolidate for some time before rising further. JPMorgan Private Bank expects gold prices to rise above $5,000 an ounce next year, which is over 20% upside from the current level.
Currently, in the international market, Comex gold futures for December delivery rose 0.45 per cent, to $4,140.75 an ounce, while silver futures gained 0.08 per cent to $50.35 per ounce. In Mumbai, the price of 24-carat gold stood at Rs
1,23,830 per 10 grams, while 22k gold was available at Rs 1,13,510 per 10 grams. These rates do not include GST and making charges. Silver was available at Rs 1,57,100 per kg.
Kaynat Chainwala, assistant vice-president (commodity research) of Kotak Securities, said, “Spot gold surged nearly 3% on Monday to a two-week high of $4,116.7 per ounce, buoyed by expectations that the potential end of the US government shutdown would restart economic data releases. The long-delayed economic data is likely to confirm a slowdown, increasing the odds of further Federal Reserve rate cuts.”
Markets now price in a 64% chance of a December cut and 77% in January.
“Support (in gold prices) also came from continued strong central bank and investment demand. China’s PBOC added to its reserves for the twelfth consecutive month in October to 74.09 million ounces, while global central banks purchased 220 tonnes in Q3, up 28% from Q2. Global gold ETFs also recorded inflows for the fifth consecutive month, adding 54.9 tonnes in October,” he added.
Markets await a House vote, potentially as early as Wednesday, on the Senate-passed short-term government funding bill that would fund the government through January 30.”
Renisha Chainani, head (research) at Augmont, said, “Gold prices have achieved the target of $4150 (~Rs 1,25,000). Prices are expected to consolidate here for a while, before moving higher.”
JPMorgan Private Expects $5,000 Gold Price Next Year
JP Morgan Private Bank expects gold’s strong upward momentum to push prices beyond $5,000 per ounce next year, driven largely by sustained purchases from central banks in emerging markets, Bloomberg reported.
Alex Wolf, the bank’s global head of macro and fixed income strategy, said in an interview that gold prices could climb to between $5,200 and $5,300 by the end of 2026, a rise of over 20% from current levels.
Meanwhile, the Securities and Exchange Board of India (Sebi) has warned investors who are investing in ‘Digital Gold/E-Gold products’ offered by digital/online platforms, which are being marked as an alternative for investment in physical gold. In a notification on November 08, the market regulator calls these products ‘unregulated’ and ‘operate entirely outside the purview of Sebi’.
“…it is informed that such digital gold products are different from SEBI-regulated gold products as they are neither notified as securities nor regulated as commodity derivatives,” Sebi informs in the notification.
