From wedding season jewelery buyers to long-term investors, this sudden drop in prices has changed the attitude of everyone in the Indian jewelery market. Gold for April 2026 delivery on the MCX closed down a whopping 18 percent. Its price touched ₹ 33,112 and closed at ₹ 1,50,849.
On the other hand, February futures fell by 12 per cent or ₹ 20,328 to settle at ₹ 1,49,075. Meanwhile, a new report of the American investment bank JP Morgan (JP Morgan) has created a huge stir in the market. According to the bank, by the end of the year 2026, the price of gold (Gold Forecast) may reach 8,000 to 8,500 dollars per ounce (approximately ₹ 7.79 lakh). If we convert this ounce price to 10 grams of gold, it will be ₹2,35,807 per 10 grams. This would prove to be a historic jump from current levels of prices.
Gold for April 2026 delivery has been under heavy pressure recently on the Indian futures market MCX. A double-digit drop in prices has been seen due to heavy profit booking. This boom has completely changed the attitude of buyers in the jewelery market. Many buyers are currently adopting a 'stop and wait' policy, while some investors are seeing this decline as a golden opportunity but globally the picture is looking somewhat different.
JP Morgan's Global Market Strategist Nikolaos Panigirtzoglu believes that gold is now only "Protection against emergencies" (Crisis Hedge) is no longer but it is becoming a core asset of the investment portfolio.
According to the report, private investors currently hold an average of 3% of their portfolios in gold. If this holding rises to 4.6%, the additional surge in gold demand, combined with limited mining supply and continued central bank purchases, could push prices to $8,000-8,500.
The report also states that many households and investors are now moving away from long-term bonds and towards gold. Gold is an asset which is not a liability of any government organization. This is the reason, people consider it as a safe haven in unstable economic environment.
Economist Peter Schiff warns that if the stock market is measured in terms of gold, the picture looks much bleaker. He says, don't be fooled by modest share prices that have risen due to inflation, the real strength is being seen in gold. According to him, this period could be like a 'historical bear market' (bear market) for stocks.
An interesting part of the JP Morgan report is that retail investors are increasingly relying on gold over Bitcoin as a 'macro hedge' (protection against financial risks). Gold continues to see steady investment flows, while crypto continues to be a more volatile and short-term trading tool.
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