Gold Prices Projected to Reach ₹1.57 Lakh in Near Term: Investment Implications

Gold Prices Experience Sharp Correction Amid Global Uncertainties

Market Update

Gold prices have witnessed a sharp correction from their recent highs, declining by around 20% from their peak in January 2026. Despite this, the broader outlook for gold remains constructive, supported by global uncertainties, central bank demand, and macroeconomic factors. On Thursday, spot gold fell 1.2% to $4,451.47 per ounce, while U.S. gold futures for April delivery lost 2.3% to $4,448.

Demand Fundamentals Remain Strong

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Experts believe that the recent fall in gold prices is part of a healthy consolidation phase within a larger bullish trend. From a demand perspective, central bank buying remains structurally strong, while ETF flows and institutional participation are expected to stabilize once volatility subsides. Geopolitical risks and fiscal concerns continue to underpin long-term demand.

Key Support and Resistance Levels

Market participants are now closely watching interest rate trajectories, inflation trends, and global risk developments, which are expected to dictate the next major move in gold prices. Key support levels remain intact at around $4,100-4,000 globally, while resistance levels are seen at $4,670-4,750.

Technical Roadmap

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Ponmudi R, CEO of Enrich Money, outlined a technical roadmap for gold, highlighting key support and resistance levels. On COMEX, gold is currently trading in the $4,500-4,600 band, with the $4,670-4,750 range acting as an important resistance zone. A sustained move above $4,750 could push prices toward $4,850.

Investor Strategy

For investors, the current setup suggests caution but not panic. Dr. Renisha Chainani believes investor sentiment has shifted from extreme bullishness to cautious optimism, which means markets are now more sensitive to fresh triggers such as rate cuts, inflation data, and geopolitical escalation. Her view suggests that investors should avoid chasing rallies aggressively, but should also not ignore the long-term bullish case for gold. A buy-on-dips approach is recommended, as long as key support levels continue to hold.