Gold may jump to ₹1.55 lakh per 10 gram in 2026: JM Financial VP
The gold market has been on a tear in recent years, with prices reaching new heights and investors flocking to the precious metal as a safe-haven asset. According to Pranav Mer, Vice President at JM Financial Services, gold prices could surge to ₹1.50-₹1.55 lakh per 10 gram on the Multi Commodity Exchange (MCX) in 2026. This projection is based on various market trends and economic indicators that suggest a continued upward trajectory for gold prices.
However, Mer also cautioned that the staggering returns seen in 2025 are not expected to repeat next year. Gold futures touched an all-time high of ₹1.40 lakh per 10 gram before ending at ₹1.39 lakh on Friday on the MCX, indicating a high level of volatility in the market. Despite this, Mer’s projection of ₹1.50-₹1.55 lakh per 10 gram suggests that gold prices are likely to continue their upward trend, albeit at a slower pace.
There are several factors that could contribute to the rise in gold prices in 2026. One of the primary drivers is expected to be the continued uncertainty in the global economy, which could lead to increased demand for safe-haven assets like gold. Additionally, the recent surge in gold prices has been driven in part by the weakness of the US dollar, which has made gold more attractive to investors. If the dollar continues to weaken, it could further boost gold prices.
Another factor that could contribute to the rise in gold prices is the expected increase in demand from central banks. Many central banks have been increasing their gold reserves in recent years, and this trend is expected to continue in 2026. This increased demand could help to drive up prices, particularly if it is combined with a decrease in gold production.
In addition to the factors driving gold prices, Mer also commented on the outlook for silver prices in 2026. According to him, silver prices could rise to ₹2.75 lakh per kilogram, driven by increased demand from the industrial sector. Silver is used in a wide range of industrial applications, including electronics, solar panels, and medical equipment, and an increase in demand from these sectors could help to drive up prices.
The projection of gold prices reaching ₹1.50-₹1.55 lakh per 10 gram in 2026 is significant, as it would represent a new all-time high for the precious metal. If this projection comes to pass, it could have significant implications for investors and consumers alike. For investors, a rise in gold prices could provide a lucrative opportunity to profit from the increase in value. For consumers, on the other hand, a rise in gold prices could make gold jewelry and other gold products more expensive.
Overall, the outlook for gold prices in 2026 is positive, with many analysts predicting a continued rise in prices. While the staggering returns seen in 2025 may not be repeated, the projection of ₹1.50-₹1.55 lakh per 10 gram suggests that gold prices are likely to continue their upward trend. As with any investment, however, it is essential to approach the gold market with caution and to carefully consider your investment goals and risk tolerance before making any decisions.
In conclusion, the gold market is expected to continue its upward trend in 2026, with prices potentially reaching ₹1.50-₹1.55 lakh per 10 gram. While there are many factors that could contribute to this rise, including continued uncertainty in the global economy and increased demand from central banks, it is essential to approach the market with caution and to carefully consider your investment goals and risk tolerance. Whether you are an experienced investor or just starting out, it is crucial to stay informed and up-to-date on the latest market trends and developments.
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