JP Morgan has forecasted that gold prices could reach $6,000 per ounce by the end of 2026 and $6,300 per ounce by the end of 2027. If this prediction holds true, the gold price in India is expected to surpass ₹2 lakh per 10 grams. Currently, the gold rate in India stands at around ₹1,42,500 per 10 grams, while the COMEX gold price is approximately $4,015 per ounce.
Market experts believe that gold will remain a strong hedge against inflation and a safe-haven asset, especially with geopolitical uncertainty expected to rise post the US Midterm elections 2026. Amit Goel, Chief Global Strategist at PACE 360, highlighted that the immediate trigger for a gold price rally is the correction in US bond yields and profit-booking in US dollar positions. He anticipates gold prices to hit $4,600 per ounce by the end of 2026, pushing the MCX gold rate to around ₹1,60,000 per 10 grams.
Avinash Gorakshkar, Founder of Avinash Mentor Research, emphasized the significance of the US Midterm elections 2026 results. He noted that an outcome unfavorable to the US President could lead to policy uncertainty, benefiting gold as a safe-haven asset. Conversely, a win for Trump's Republican Party might escalate geopolitical tensions, driving up inflation and gold prices. Anuj Gupta, a SEBI-registered market expert, pointed out that the US Fed's focus on controlling inflation and potential geopolitical developments, such as the resolution of the Russia-Ukraine war, could influence gold prices.
Experts unanimously advised investors to consider buying gold ahead of Dhanteras 2026 and Diwali 2026, as gold prices are expected to reach at least their record highs by the end of 2027. However, they cautioned that achieving the ₹2 lakh per 10 grams mark would require significant international developments, such as the reopening of the Strait of Hormuz.