Gold may jump to ₹1.55 lakh per 10 gram in 2026: JM Financial VP
The year 2025 has been a remarkable one for gold investors, with the precious metal witnessing a significant surge in its prices. However, according to Pranav Mer, Vice President at JM Financial Services, the momentum is expected to continue in 2026, with gold prices potentially reaching ₹1.50-₹1.55 lakh per 10 gram on the Multi Commodity Exchange (MCX). This forecast is based on various market trends and economic indicators, which suggest that gold is likely to remain a popular investment option in the coming year.
Gold futures have already touched an all-time high of ₹1.40 lakh per 10 gram, before ending at ₹1.39 lakh on Friday on the MCX. This upward trend is expected to continue, driven by a combination of factors, including a potential slowdown in the global economy, geopolitical tensions, and a decline in interest rates. As investors seek safe-haven assets, gold is likely to benefit from the increased demand, leading to higher prices.
However, it’s worth noting that the returns on gold investment in 2026 are not expected to be as staggering as they were in 2025. The market has already factored in a significant portion of the potential gains, and the pace of growth is likely to be more moderate in the coming year. Nevertheless, the outlook for gold remains positive, with many analysts predicting that the metal will continue to be a top performer in the commodity market.
One of the key drivers of gold prices in 2026 is likely to be the monetary policy decisions of central banks, particularly the US Federal Reserve. The Fed’s minutes, which are scheduled to be released next, will provide valuable insights into the bank’s future plans, and could have a significant impact on gold prices. If the Fed decides to adopt a more dovish stance, it could lead to a decline in interest rates, making gold more attractive to investors.
In addition to the Fed’s decisions, gold prices will also be influenced by other economic indicators, such as inflation, employment rates, and GDP growth. A slowdown in economic growth, combined with rising inflation, could lead to increased demand for gold, driving up its prices. Furthermore, any escalation in geopolitical tensions, particularly in regions that are significant gold producers, could also lead to higher prices.
While gold is expected to be the top performer in the commodity market, other precious metals, such as silver, are also likely to benefit from the positive trends. According to Pranav Mer, silver prices could reach ₹2,75,000 per kilogram in 2026, driven by a combination of factors, including a decline in mine production and an increase in industrial demand.
In conclusion, the outlook for gold in 2026 is positive, with prices expected to reach ₹1.50-₹1.55 lakh per 10 gram on the MCX. While the returns may not be as spectacular as they were in 2025, the metal is likely to remain a popular investment option, driven by a combination of economic, geopolitical, and monetary factors. As investors seek to diversify their portfolios and hedge against potential risks, gold is likely to continue to be a top performer in the commodity market.
The potential surge in gold prices is also likely to have a positive impact on the Indian economy, particularly the gems and jewelry sector. With gold being a significant contributor to India’s imports, a rise in prices could lead to an increase in the cost of imports, which could have a negative impact on the country’s trade deficit. However, the gems and jewelry sector, which is a significant contributor to India’s exports, could benefit from the higher prices, leading to an increase in exports and a boost to the economy.
Overall, the forecast for gold prices in 2026 is positive, with the metal expected to continue to be a top performer in the commodity market. As investors seek to navigate the complexities of the global economy, gold is likely to remain a popular investment option, driven by its safe-haven status and its potential for long-term growth.
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