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Gold Prices to Skyrocket? ICICI Bank's Surprising Forecast After 8% September Drop!
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News18•28-09-2026, 19:48
Gold Prices to Skyrocket? ICICI Bank's Surprising Forecast After 8% September Drop!
- •ICICI Bank report states current gold price decline is a correction, not a long-term recession.
- •Reasons for the fall include anticipated hawkish US Fed stance, inflation concerns, and high crude oil prices.
- •ICICI Bank forecasts international gold prices to trade between $4200 and $4600 per ounce by end of 2026.
- •In India, gold prices could reach ₹1.40 lakh to ₹1.60 lakh per 10 grams by the end of 2026.
- •Central banks are actively buying gold; People's Bank of China added 20 tons in August, its largest since Oct 2023.
Key Questions Answered
The September decline in gold prices was driven by expectations of a renewed hawkish stance from the US Federal Reserve, inflation concerns, high crude oil prices, and strong US employment data that strengthened the dollar.
According to ICICI Bank's report, international gold prices are expected to trade between $4,200 and $4,600 per ounce by the end of 2026, with an upward trend potentially returning in the first quarter of 2027.
ICICI Bank forecasts that by the end of 2026, domestic gold prices in India could range between ₹1.40 lakh and ₹1.60 lakh per 10 grams.
