Gold Price Forecast: Gold prices are expected to boom. Veteran brokerage firm JP Morgan believes that by the first half of 2026, the rate of gold may rise by more than 18%. On Thursday (19 June 2025) in India, 24 carat gold prices were ₹ 1,01,210 per 10 grams. In such a situation, according to the estimate of JP Morgan, gold can reach a level of ₹ 1.20 lakh per 10 grams in India by the first half of 2026.
What is JP Morgan’s estimate?
Luis Oganes, JP Morgan’s Global Macro Research Head, believes that gold prices may see a tremendous rise. It can reach $ 4,000 an ounce in the first half of 2026 itself. The price of gold in the international market is currently $ 3,365 an ounce. Accordingly, there is scope for 18.87% jump in gold prices.
Why can the price of gold increase?
In a conversation with CNBC-TV18, Oganes said that the rally in gold is getting intensified, as the central banks from all over the world are now turning to gold in view of currency stability and global financial pressure.
He said, “If you track gold prices, it took 12 years to reach $ 1,000 to $ 2,000. It took just 4 years to reach $ 2,000 to $ 3,000. Now it seems that it may take less than a year to move from $ 3,000 to $ 4,000.”
Why are the central banks buying gold?
According to Oganes, the biggest reason for the Bulish Outlook on Gold is that the central banks are now afraid that the currency of developed countries may gradually weaken, especially due to existing financial stress and irregularity. In such a situation, Central Banks of Emerging Markets are rapidly increasing investment in gold.
He said, ‘Gold share in central banks of developed countries is about 20% of the total reserve. At the same time, this share in the central banks of emerging markets is now 9%, which was just 4% 10 years ago. This is not just a reaction, but a strategic change. ‘
Gold is buying every central bank
Oganes made it clear that the increase in gold in the total reserves of the developing and emerging market is not a short -term move, but a structural rebelling of the Forex Reserve, in which gold is considered to be more stable and long -term asset.
He also informed that now the scope of those who buy gold is also getting bigger. Central banks of both developed and developing countries are increasing gold holdings, as they are concerned about today’s macroeconomic challenges.
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