Gold prices drop below ₹121,000 as 2026 surge looms
Gold prices in India dropped to 120,770 rupees per 10 grams for 24-carat metal on Friday as the precious metal extended recent declines. Silver fell to 149,125 rupees per kilogram during the same trading session. The yellow metal has shed 10,104 rupees since reaching 130,874 rupees on October 17, while silver declined 28,975 rupees over the comparable period.
Market analysts predict gold could climb to 156,000 rupees by next year despite current weakness. Brokerage HSBC forecasts prices reaching 144,068 rupees per 10 grams in 2026, and Goldman Sachs projects international rates hitting $4,900 per ounce, equivalent to about 153,000 rupees. JP Morgan takes a more conservative stance, expecting the metal to hover around 125,000 rupees through next year. Central bank purchases globally and potential Federal Reserve rate cuts could drive appreciation, according to market watchers.
Specialists tracking bullion markets suggest current levels below 123,000 rupees present attractive entry points for investors. Prices may fluctuate between 126,000 rupees and 156,000 rupees during 2026, though multiple factors influence valuations. Buyers should evaluate market conditions carefully before committing funds.
