Gold price target for 2026 in India: As the Dussehra 2026 festival gains momentum across the nation, it is important to scrutinise the wealth generated by one's investment over the year. For a gold investor, the return since Dussehra 2025 looks attractive at a whopping 26.50%, as gold prices in India have appreciated from around ₹1,17,000 per 10 gm to ₹1,48,000 per 10 gm. In this period, the MCX gold rate hit an all-time high of ₹1,80,779 per 10 gm in January 2026. So, gold prices have delivered a 26.50% return since Dussehra 2025, despite retracing byaround 18% from its record high.
According to market experts, gold prices have bottomed out, and the precious yellow metal is poised for significant upside amid the festival season. They said that the market has already discounted a 25 bps US Fed rate hike, and any surprise by the Kevin Warsh-led American Central Bank keeping interest rates steady may trigger strong buying in gold. They maintained that renewed inflation fears and declining job creation are expected to take their toll on the US dollar, which will further abet gold price appreciation.
Pointing towards the US Fed meeting scheduled next week, from October 27-28, 2026, Anuj Gupta, a SEBI-registered market expert, said, “The market has already discounted a 25 bps US Fed rate hike. However, there is a high probability that the US Central Bank may keep the interest rate unchanged. If Kevin Warsh-led US Fed keeps interest rates unchanged, there would be a strong buying trigger in precious yellow and white metal, leading to strong upside movement.”
They said that the gold price target for 2026 in India, in rupees, is ₹1,60,000 per 10 gm by the end of December 2026, while it is expected to reach $4,600 per ounce in the international market.
Amit Goel, Chief Global Strategist at PACE 360, said, “It is highly likely that the Kevin Warsh-led US Fed may avoid any interest rate hike in the October 2026 US Fed meeting. The CME FedWatch indicator suggests 85% probabilty of no change in US Fed rates. However, the market would wait for a final outcome, as the CME FedWatch indicator may change on a single trigger, like an escalation in the US bond yields, or a rise in the Middle East tension, etc.”