Gold May Touch ₹1.9 Lakh Per 10 Grams By 2026, Says World Gold Council Chief
Gold May Touch ₹1.9 Lakh Per 10 Grams By 2026, Says World Gold Council Chief
Structural global shifts, rising ETF demand and geopolitical risks could keep gold prices elevated well into next year
Gold prices could climb to unprecedented levels and may approach ₹1.9 lakh per 10 grams by 2026, according to World Gold Council (WGC) chief executive David Tait. The forecast comes amid a historic multi-year rally in the precious metal that shows little sign of slowing.
Speaking on the global outlook for gold, Tait said the ongoing surge is not being driven by short-term shocks but by deep, structural forces reshaping global markets. “There are strong indicators for continued high gold prices in 2026. Many are projecting $6,000 an ounce, and frankly, that figure feels very close given the prevailing conditions,” he said.
At $6,000 per ounce, gold would translate to roughly ₹5.41 lakh per ounce or about ₹1.90 lakh per 10 grams. One ounce of gold equals approximately 28 grams.
Gold prices have already seen an extraordinary run in 2025. On Wednesday, gold was trading at $4,321 per ounce, up nearly 60 per cent year-on-year. Over the course of the year, gold has crossed record levels more than 50 times, making 2025 one of the most significant years in the metal’s history.
According to Tait, several long-term trends are fuelling this rally. These include anticipated deregulation in China, a massive generational wealth transfer underway in Japan, and the growing global adoption of gold-backed exchange-traded funds (ETFs) and other investment products. Together, these factors are creating sustained demand beyond traditional jewellery and central bank buying.
The World Gold Council’s Gold Outlook 2026 report outlines three possible scenarios for the year ahead. In the first, if US economic growth slows modestly and the Federal Reserve cuts interest rates faster than expected, gold could rise by 5 to 15 per cent. Lower rates and a weaker dollar in such a scenario would likely push investors back towards safe-haven assets.
The second and more bullish scenario involves a deep global recession combined with escalating geopolitical tensions. In this case, gold prices could jump by 15 to 30 per cent, which the report describes as the strongest possible backdrop for the metal.
The third scenario is less favourable for gold. If the US economy outperforms expectations and interest rates rise instead of falling, the dollar could strengthen and investor money could shift back to riskier assets. This could put pressure on gold prices, leading to a potential decline of 5 to 20 per cent.
Despite these varying possibilities, market sentiment remains largely supportive of gold. Aksha Kamboj, Vice President of the India Bullion and Jewellers Association and Executive Chairperson of Aspect Global Ventures, said gold is currently trading around ₹1,28,592. She noted that the recent dip after last week’s rally was brief and that buyers have already returned to the market.
“Global cues remain strong, and investor positioning continues to be positive for gold,” she said, adding that the broader trend still points towards elevated prices in the medium term.
With geopolitical uncertainty, shifting monetary policies and strong investment demand, gold’s role as a preferred safe haven appears firmly intact as markets look ahead to 2026.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Gold prices are subject to market risks and may fluctuate.
