
Gold may stay ₹1.50–₹1.55 lakh as inflation. (Photo: AI)
Gold rallied again as of April 25-26 2026 to bounce back from the mid-week dip in the bullion market that showed the continued volatility in the market. 24 kgs gold bounced to ₹1,54,470/- per 10 grams on April 25 as the safe-haven demand for the metal was triggered on account of global political tensions, rising inflation concerns and other factors. Spot Gold also bounced globally on account of Middle East geopolitical tensions and currency movements. The rally in gold is strong, but the market is entering the consolidation phase where prices remain range bound at high levels. We will closely watch the macro triggers, particularly interest rate expectations and inflation as the near-term trend for Gold.
In the short-term we expect gold to stay high within ₹1,50,000-₹1,55,000 per 10 grams of gold in India on account of an increase on April 25 on account of global factors and currency moves. We do not expect gold to create a big spike in the next 24-48 hours, but we can expect gold to remain strong close to record highs. Globally gold is also expected to remain strong on account of geopolitical tensions, despite an intra-week pullback.
Gold’s recent rally can largely be attributed to geopolitical concerns – especially the US vs Iran tensions – which have increased demand for safe-haven assets. The recent rise in oil prices has also sparked fears of inflation, which as always boosts demand for gold. Finally, market participants are also responding to changes in expectations around global monetary policy – in a nutshell, interest rate expectations continue to impact gold.
The recent rally in gold can largely be attributed to geopolitical concerns – especially the US vs Iran tensions – which have increased demand for safe-haven assets. The recent rise in oil prices has also sparked fears of inflation, which as always boosts demand for gold. Finally, market participants are also responding to changes in expectations around global monetary policy – in a nutshell, interest rate expectations continue to impact gold.
Gold is very sensitive to interest rate movements – when rates rise, gold loses attractiveness and when rates are expected to fall, gold gains support. Inflation for the other hand, boosts demand for gold as it can be used as a hedge. The third big factor that matters is the US dollar, when the dollar is strong, gold is more expensive for other countries and reduces demand. Finally, bond yields are also a significant factor as higher yields implies that money is more attractive in other assets and less in gold.
Gold is likely to keep climbing but with volatility, says analysts. Gold will climb further if inflation does not tame, and central banks signal a pause or slowdown in rate hikes. Rising geopolitical tensions are likely to maintain safe-haven demand. However, strong economic data or a firmer dollar will cap upside, tethering prices.
Silver is expected to move with gold, but with an added component of industrial demand. Silver could outperform gold if global economic conditions are stable, as it is a dual-use metal. Like gold, however, silver is likely to be volatile in the short term.
The general outlook for the precious metal is positive. Gold is likely to upgrade again, but with price volatility. Experts say that core demand will be sustained by inflation concerns and geopolitical risks. They recommend that gold investors watch central bank policies, oil prices, and global developments closely to predict the next movement of gold.
Disclaimer: Gold price predictions are based on current market trends, expert opinions, and available data. Prices are subject to change due to global economic conditions, currency fluctuations, and geopolitical developments. This content is for informational purposes only and should not be considered financial or investment advice.
Sofia Babu Chacko is a journalist with over five years of experience reporting on Indian politics, crime, human rights, gender issues, and stories about marginalized communities. She believes journalism plays a crucial role in amplifying unheard voices and bringing attention to issues that truly matter. Sofia has contributed articles to The New Indian Express, Youth Ki Awaaz, and Maktoob Media. She is also a recipient of the 2025 Laadli Media Awards for gender sensitivity. Beyond the newsroom, she is a music enthusiast who enjoys singing. Connect with Sofia on X: https://x.com/SBCism
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