Gold Price Prediction: Meanwhile, there was some reduction in the prices of gold, so people heaved a sigh of relief. But it is once again predicted to reach record high level.
This is because in the coming time, investors will be in alert mode regarding the decision of the Federal Reserve regarding interest rates in America and the MPC meeting of the Reserve Bank. Apart from this, developments like job and inflation figures in America, peace deal between Russia and Ukraine will also be in focus.
Focus on many big developments
According to news agency PTI, Pranav Mer, Vice President, EBG – Commodity and Currency Research, JM Financial Services Limited, said, “Gold is moving out of the consolidation range as investors are paying attention to manufacturing and services PMI data of different regions, US Jobs data and consumer sentiment. Apart from this, Fed Chair Jerome Powell’s speech on Monday, Russia-Ukraine peace talks. Traders will keep an eye on RBI’s development and RBI’s policy meeting on Friday.
Price increased in international market
Gold futures for February 2026 contract on the Multi Commodity Exchange closed at Rs 1,29,504 per 10 grams on Friday, up Rs 3,654 or 2.9 per cent from last week. At the same time, during the last week, Comex gold futures for December delivery in the international market increased by US $ 138.8 or 3.4 percent and on Friday it closed at US $ 4,218.3 per ounce.
Similarly, fluctuations of rupee against dollar and domestic demand in Indian markets have affected the prices of gold. According to Prathamesh Mallya of Angel One, the prices of precious metals remain high due to the festive season, celebration of weddings and continuous buying of jewellery. He also said that it is expected that central banks around the world will continue purchasing gold in the coming times. Experts say that gold may reach record high levels in the coming time because the demand for safe-haven will remain intact amidst expectations of continuous rate-cuts, weakness of the US dollar and geopolitical uncertainties.
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