New Delhi, Oct 17 (NationPress) Gold has yielded returns of roughly 63 percent in rupee terms and 53 percent in dollar terms since the last Dhanteras. According to a Friday report, there is potential for gold prices to soar to Rs. 1.5 lakh per 10 grams by 2026.

Factors such as dovish signals from the U.S. Federal Reserve, increased ETF inflows, and central bank acquisitions are fueling the gold market, as reported by Ventura Securities.

Since March 2025, gold prices have surged, escalating from $3,000 an ounce to approximately $4,254. In India, the price has jumped from Rs. 78,840 per 10 grams on Dhanteras 2024 to Rs. 128,200 currently.

The report anticipates that the next rally beginning from Dhanteras 2025 could lead to unprecedented levels of $5,000 per ounce or Rs. 1,50,000 per ten grams by 2026.

N.S. Ramaswamy, Head of Commodities & CRM at Ventura, pointed out that increasing downside risks to the U.S. labor market could warrant interest rate cuts.

“With economic data delays due to the U.S. government shutdown, all eyes are on FED Chair Powell, who indicated that the rising risks in the labor market could justify another rate cut,” Ramaswamy added.

Additionally, the U.S. is grappling with debt servicing challenges, as the national debt has surged to $37 trillion.

Trade tensions between the United States and China have also intensified, following China's announcement of stricter export regulations on rare earth metals and magnets, which are essential resources. Concurrently, the U.S. has imposed an extra 100 percent tariff on Chinese imports, compounding the existing 30 percent tariffs, which has further increased demand for gold.

With these favorable conditions, gold has achieved a remarkable streak of eight consecutive weekly gains. The climb in gold prices is boosting investor confidence and generating a strong sense of FOMO, as aggressive buying follows every dip, the report concluded.