New Delhi, Oct 17
The gold has generated returns of approximately 63 per cent in rupee terms and 53 per cent in dollar terms since last Dhanteras, and a possible rally towards Rs.1.5 lakh per 10 grams is possible by 2026, a report said on Friday.
Gold prices have skyrocketed since March 2025, rising from $3,000 an ounce to around $4,254. In India, prices increased from Rs.78,840 per 10 grammes on Dhanteras 2024 to Rs.128,200 currently.
"Due to the delay of economic data (employment and inflation) as the US government is on shutdown mode, focus is on FED Chair Powell who signalled that rising labour market risks justify another rate cut," said Ramaswamy.
With these tailwinds, gold has had a record run of eight weekly gains. The rise in gold prices is fuelling investor confidence and a strong sense of FOMO, as every pullback is being met with aggressive buying, the report noted