Gold hits ₹1.36 lakh per 10g as global rally intensifies
Gold hits ₹1.36 lakh per 10g as global rally intensifies
Gold climbs to a fresh high of ₹1.36 lakh per 10g amid a global rally, with forecasts suggesting further gains into 2026.
In Kolkata, gold prices rose to ₹1.36 lakh per 10 grams on Tuesday, up about ₹3,000 from the previous day. Some listings show a price of ₹1.4 lakh per 10 gm when GST of 3% is included. International markets mirrored the momentum, with gold prices trading above $4,500 per troy ounce for the 50th time this year and silver touching $70 per troy ounce amid expectations of looser US monetary policy and mounting geopolitical tensions. Analysts note that gold has breached the key resistance around $4,500 and could extend toward $4,575 and even $5,000 in the coming weeks, signaling that the rally may have more steam left. Silver was trading around ₹2.09 lakh per kilogram in the retail market, underscoring a broader metals rally.
Despite the surge, consumer demand has slowed as buyers wait for a pullback, and many households holding old gold have not rushed to liquidate in hopes of higher prices ahead. Market watchers say the yellow metal remains supported by a mix of safe-haven demand, geopolitical tensions, and expectations of dovish shifts in US policy.
Looking ahead, the industry expects prices to push higher, with some forecasting a move to ₹1.38 lakh to ₹1.40 lakh per 10 gm by January 2026 if the global rally persists. In the currency and rate outlook, markets are pricing in two quarter-point rate cuts by the Federal Reserve next year, a factor that could further buoy gold and other safe-haven assets. Despite the volatility ahead, traders and investors appear to be treating the current level as a new normal rather than a temporary spike.
