The upward trend in international gold prices continues, and analysts and traders believe this momentum will be sustained through the rest of the year. The precious metal could even exceed $4,000 per ounce by 2026, though a short-term dip of 5-6% may occur first.
A Reuters report on Wednesday confirmed this information. Speaking at the India Gold Conference in New Delhi on Tuesday, Renisha Chenani, head of research at Agmont, stated, “The long-term trend for gold prices will remain upward. Demand from central banks and exchange-traded funds (ETFs) continue to grow. However, current gold trading is high, which may lead to a slight decrease in the short term. After that, the precious metal could reach a new all-time record by 2026.”
This year, gold prices have risen by almost 40%. Last year, the value of the precious metal had also increased by 27%. On Tuesday, the spot price of gold rose by 0.3%, reaching $3,688.41 per ounce. At one point during the day’s trading, the price hit a record high of $3,697.05. Meanwhile, on the US futures market, gold for December delivery increased by 0.2% to $3,726.70 per ounce.
Experts attribute the price surge to several factors: expectations of an interest rate cut by the US Federal Reserve, geopolitical instability, significant purchases by central banks, and growing investor confidence. Nicholas Frappel of ABC Refinery said, “Gold prices are rising faster than we expected. There is a strong possibility that it will cross $4,000 per ounce in 2026.”
Philip Newman, managing director of consultancy Metals Focus, noted, “Gold prices could reach around $3,800 per ounce by the end of the year, but a short-term drop might occur. This should be seen as a new entry opportunity for investors, which could lead to gold prices exceeding $4,000 per ounce in 2026.”
The silver market is also experiencing an upward trend. Due to increased industrial use and growing investor demand, the price of the metal has reached a 14-year high. On Tuesday, the price of silver was stable at $42.70 per ounce.
Chirag Thakkar, CEO of Amrapali Group Gujarat, said, “Besides traditional industrial use, growing interest from investors is strengthening the silver market.”
