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Gold to Rocket Again? ICICI Bank's Surprising Prediction on Future Prices.
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News18•28-09-2026, 19:06
Gold to Rocket Again? ICICI Bank's Surprising Prediction on Future Prices.
- •ICICI Bank report states the current gold decline is a correction, not a long recession's start.
- •The bank predicts international gold will trade between $4,200 and $4,600 per ounce for the rest of 2026.
- •International gold prices are expected to reach $4,600 to $5,000 per ounce by the first half of 2027.
- •Global Gold ETFs saw a massive $17.8 billion investment in August 2026, pushing total ETF demand to 144.7 tonnes.
- •Central banks worldwide are continuously buying gold, with the People's Bank of China adding 20 tonnes in August.
Key Questions Answered
The September decline was driven by fears of a hawkish US Federal Reserve monetary policy stance, persistent inflation, high crude oil prices, and strong US employment data that bolstered the dollar.
ICICI Bank has maintained its domestic gold forecast stable at Rs 1.40 lakh to Rs 1.60 lakh per 10 grams for the remainder of 2026.
The People's Bank of China added 20 tonnes of gold to its reserves in August 2026, marking its largest monthly purchase since October 2023.
