Gold at Rs 4.4 lakh per ounce? JP Morgan’s forecast points to a red-hot rally for yellow metal by 2026-end
Gold at Rs 4.4 lakh per ounce? JP Morgan’s forecast points to a red-hot rally for yellow metal by 2026-end Amid growing geopolitical uncertainties, gold has once again become the favourite option for investors around the globe. While 2025 saw an unprecedented rally, the trend is likely to continue well into 2026 as well. Although the rates have eased a bit, JP Morgan Private Bank says that gold may see a sizzling rally by the end of 2026, with prices potentially breaching the all-time high of $5,000 per ounce. If we take this target in the Indian market and consider today's exchange rate ($1 = Rs 88.65), this means that the price per ounce (1 ounce = 31 grams) of gold may hit Rs 4,43,2500 per ounce lakh by the end of 2026. This, of course, does not include taxes such as import duty and GST. If this assumption becomes reality, the price for one gram of gold in India next year may touch Rs 15,558. This target includes an import duty of 6 percent and GST of 3 percent. Talking...