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.
US Fed rate hike impact on gold rate today
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.”
US Fed meeting outcome impact on gold price
Decoding the US Fed meeting outcome impact on gold price, Amit Goel of PACE 360 said, “As the market has already discounted a 25 bps US Fed rate hike in the October 2026 meeting, if the American Central Bank decides to keep the interest rates unchanged, then we can expect a sharp upside in the gold prices and the precious yellow metal may decisively break the upside resistance of ₹1,50,000 in few sessions.”
The SEBI-registered expert Anuj Gupta said that a 25 bps US Fed rate hike won’t have much impact on gold prices, as the market has already discounted two successive 25 bps rate hikes at the US Fed meetings in October and December 2026.
Gold price target 2026 in India
Amit Goel of PACE 360 said that anti-AI trade is catching momentum, and investors are hesitant now in pumping money in the US bonds due to the reports of US bond yield suppression.
“The Donald Trump government can’t afford the US 10-year bond yield to sustain above 4.50%. However, the 10-year US bond yield has been sustained above 5% for more than a month, leaving the US government with two options: either to go for additional US dollar printing or to go for additional US dollar printing. Both will have a negative impact on the US dollar and the US bond yields. However, it will be supportive for the gold price rally,” said Anuj Gupta.
“The AI blowout can be expected by the end of November or by the beginning of December 2026, an event which should be on the watch list of gold investors. Once the AI blowout begins,, the smart money is expected to move from the currency and bond markets to equities and gold. In such a case, a sharp rally in the gold price at the end of 2026 is expected to pull up the precious metal price at $4,600 per troy ounce in the international market and at ₹1,60,000 per 10 gm in the Indian markets,” said Amit Goel of PACE 360.
Disclaimer: This story is for educational and informational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified financial experts before making any investment decisions.