Gold Prices May Rise to $4,600-$5,000 as Dollar Strengthens

Gold prices may face another volatile period due to US data and West Asia tensions that could impact crude prices, according to bullion analysts. However, ICICI Bank expects gold prices to rise to USD 4,600-5,000 per ounce in the first half of 2027 as elevated US real yields and a stronger dollar ease.

The bank predicts gold will trade in the USD 4,200-4,600 per ounce range for the rest of 2026 with a marginal upside bias in the first half of 2027. ICICI Bank attributed the recent correction to a more hawkish repricing of US monetary policy amid persistent inflation concerns and higher oil prices.

Jateen Trivedi, VP Research Analyst - Commodity and Currency at LKP Securities, said that gold remained highly volatile last week, trading within the Rs 1.5-1.54 lakh per 10 grams range and ending lower by more than 2 per cent due to profit booking.