The relentless surge in gold prices shows no indication of slowing down as we move into 2026. According to financial firm Ventura, the precious metal is gearing up for another potentially explosive phase of growth, potentially reaching a staggering $4,600 to $4,800 per ounce in the coming year.
The Powerful Cocktail Fueling Gold's Ascent
Ventura identifies a potent mix of global factors that could propel gold to new heights. This "cocktail" is powered by aggressive central bank purchases, persistent inflation concerns, widening fiscal deficits in the United States, and growing anxieties about the US economy and trade tariffs. Adding to this momentum is an anticipated 75 basis points worth of interest rate cuts from the US Federal Reserve in 2026, which is expected to sustain strong demand and deepen the metal's multi-year bull market.
The firm asserts that gold's bullish cycle remains "far from over" as institutional investors increasingly turn to it as a hedge against inflation. This institutional demand is now being followed by rising participation from retail and speculative investors, creating a layered demand structure that strengthens the foundation for a long-term rally.
Investment Guidance and a Historic Rally
Echoing the positive sentiment, brokerage house HDFC Securities highlights that gold's investment appeal has strengthened significantly. This is due to stubborn inflation, expectations of lower real interest rates, and a weakening faith in traditional paper currencies. The brokerage emphasises gold's traditional role as a hedge against geopolitical conflict, market volatility, and deteriorating fiscal health in major Western economies.
Consequently, HDFC Securities recommends that investors allocate 5–10% of their portfolios to precious metals like gold and silver, with the scope to increase this exposure based on individual risk appetite. The firm believes the medium-to-long-term outlook for gold remains "structurally strong" despite short-term price swings.
This optimism is backed by a staggering performance record. Ventura points out that gold has achieved nine consecutive quarterly highs, including in the fourth quarter of 2025. This reflects one of the most powerful multi-year rallies in modern history and signals what analysts call a systemic decline in the value of fiat currencies.
The Indian Context and Technical Outlook
In India, the bullish trend is even more pronounced due to local structural factors. Domestic gold prices are approximately 15% higher than in Dubai, a gap driven by import duties and a consistently weak rupee. This disparity continues to influence cross-border bullion flows into the country.
Following a peak of $4,398 on October 20, 2025, gold experienced an 11% correction, falling to $3,891. However, it rebounded powerfully towards $4,299 in December 2025, driven by expectations of a Federal Reserve rate cut and softening inflation data, which weakened the US dollar. Ventura notes that the metal is now in a consolidation phase rather than a reversal, as investors adjust positions ahead of major policy announcements.
From a technical perspective, Ventura predicts strong support for gold around $4,200 and $4,056. Resistance is seen near the $4,255–$4,300 zone. A decisive break above this resistance could open the path for further gains toward $4,381–$4,441.
Disclaimer: The views and recommendations mentioned are those of individual analysts or broking firms. Investors are advised to consult certified experts before making any investment decisions.
