Is your jewelry box about to become a gold mine? With global uncertainty at an all-time high and inflation still simmering, gold and silver prices in India are on a tear—and experts say this is just the beginning. According to Abhilash Koikkara, Head of Forex & Commodities at Nuvama Professional Clients Group, the precious metals rally shows no signs of slowing down. In fact, he’s forecasting that gold could soon breach the psychological barrier of **Rs 1.85 lakh per 10 grams**, while silver may surge past **Rs 4.15 lakh per kilogram**. If these predictions hold, we’re staring at unprecedented territory for Indian investors. But what’s fueling this surge, and more importantly—should you buy, hold, or sell right now?
Table of Contents
- The Current Surge: What’s Driving Gold and Silver?
- Gold Price Prediction 2026: Expert Forecast
- Silver Outlook: The Shining Competitor
- Should You Buy, Hold, or Sell Right Now?
- Historical Context: How Does This Rally Compare?
- Conclusion: Navigating the Precious Metals Boom
- Sources
The Current Surge: What’s Driving Gold and Silver?
Several powerful macroeconomic forces are converging to create a perfect storm for precious metals:
- Geopolitical Tensions: Escalating conflicts in multiple regions have sent investors flocking to safe-haven assets like gold.
- Central Bank Buying: Countries like China, India, and Turkey continue to aggressively stockpile gold, reducing global supply available to markets [[3]].
- Weak US Dollar: A softer dollar makes gold cheaper for holders of other currencies, boosting demand.
- Inflation Hedge: Despite rate hikes, core inflation remains sticky, reinforcing gold’s role as a store of value [[6]].
This isn’t speculative hype—it’s a structural shift in how global capital views risk, and gold is at the center of it.
Gold price prediction 2026: Expert Forecast
Abhilash Koikkara’s outlook is unequivocally bullish. “The momentum is strong, and the technical setup on MCX is extremely positive,” he stated in a recent market update [[1]]. He projects that gold could test **Rs 1,85,000 per 10 grams** on the Multi Commodity Exchange (MCX) in the near term. This would represent a new all-time high, surpassing previous records set during pandemic-era volatility. The key support level, he notes, is now firmly established at Rs 1,78,000, suggesting any dips are likely to be shallow and short-lived. For long-term investors, this rally appears to be underpinned by fundamentals, not just sentiment.
Silver Outlook: The Shining Competitor
While gold grabs headlines, silver is quietly staging its own breakout. Koikkara predicts silver could breach **Rs 4,15,000 per kg** on MCX. Silver’s dual role as both a monetary metal and an industrial commodity (used in solar panels, EVs, and electronics) gives it unique upside potential. As the global push for green energy accelerates, industrial demand for silver is expected to soar, adding to its investment appeal. Historically, silver tends to outperform gold during the latter stages of a bull market—making this a critical moment for savvy investors to pay attention [[9]].
Should You Buy, Hold, or Sell Right Now?
This is the million-dollar (or rather, lakh-rupee) question. Here’s a practical breakdown:
- If you’re a long-term investor: Consider holding or adding to your position on minor corrections. The macro trend remains strongly positive.
- If you’re a trader: Use technical indicators like moving averages and RSI to time entries. Avoid chasing the market at its peak.
- If you’re new to commodities: Start small. Consider sovereign gold bonds (SGBs) or digital gold for lower-risk exposure without storage hassles [[12]].
Remember, timing the market perfectly is nearly impossible. A staggered investment approach (like SIP in gold ETFs) can help mitigate volatility. For a deeper dive into low-risk gold investment options, check out our guide on [INTERNAL_LINK:best-ways-to-invest-in-gold-in-india-2026].
Historical Context: How Does This Rally Compare?
To put things in perspective, gold has appreciated over 25% in the last 18 months alone. While impressive, this pales in comparison to the 60%+ surge seen between 2019 and 2020. However, the current rally is different—it’s being driven more by institutional and central bank demand than retail panic buying. This suggests greater sustainability. According to the World Gold Council, annual gold demand hit a five-year high in 2025, with investment demand leading the charge [[15]]. This isn’t a bubble; it’s a recalibration of value in a fractured world.
Conclusion: Navigating the Precious Metals Boom
The gold price prediction 2026 landscape is undeniably bullish. With targets like Rs 1.85 lakh for gold and Rs 4.15 lakh for silver on the horizon, investors have a rare opportunity—but also a responsibility to act wisely. Whether you’re safeguarding wealth, speculating on short-term moves, or planning for retirement, understanding the drivers behind this rally is crucial. As Koikkara’s analysis suggests, the golden age of precious metals may be just beginning. Stay informed, stay cautious, and let data—not fear or greed—guide your decisions.
Sources
- [[1]] Times of India: Gold & Silver Price Prediction Today – January 29, 2026
- [[3]] World Gold Council: Central Bank Gold Reserves Report, Q4 2025
- [[6]] Reserve Bank of India: Inflation Trends and Monetary Policy Review
- [[9]] Silver Institute: Global Silver Demand Forecast 2026
- [[12]] Securities and Exchange Board of India (SEBI): Guidelines on Gold ETFs and SGBs
- [[15]] World Gold Council: Gold Demand Trends, Full Year 2025