Gold Price Forecast: Will Yellow Metal Reclaim ₹1.65 Lakh in September?

The gold price prediction for September 2026 indicates that the yellow metal will be at an important juncture after its impressive rally in August. Despite a recent decline, gold still gained almost 9.6% in August, making it on track for its best month since January.

According to analysts, the spot price of gold is expected to range between $4,500 and $4,900 per ounce by September 2026. In India, the price correction is crucial as MCX gold futures for October dropped ₹2,045 or 1.31% to ₹1,54,236 per 10 grams on Monday.

The recent decline in prices was caused by the hawkish message delivered by US Federal Reserve head Kevin Warsh at Jackson Hole, which led to increased expectations of interest rate hikes. Since gold does not yield any interest, it usually falls out of favor when interest rate expectations rise.