Gold Prices forecast: New record highs expected this week amid global demand

New Delhi: Last week, gold prices increased by about 3 percent. This week the price of gold may jump. If experts are to be believed, like silver, gold can also set a new record. Gold prices may set a new record in the first week of December. If you look at the figures, the price of gold may rise by Rs 5000 per ten grams. There's a reason behind the possible surge.

The central banks across the globe continue to buy gold. On the other hand, due to the wedding season demand in India, the gold rates may increase. On the other hand, the possibility of interest rate cuts by the US Central Bank seems to be getting stronger, which could also lead to rise in prices.

On the other hand, there is a possibility of a rise in gold prices due to the rising tensions between Russia and NATO over Ukraine. Gold prices have increased by more than 60 percent in 2025 so far. Earlier, gold set a record of lifetime high in the country's futures market on October 17. After 6 to 7 weeks, gold prices are showing their strength to reach record levels. Let us also tell you what experts have to say in this matter...

According to analysts, gold prices may cross record levels with strength next week. Analysts say that investors' entire focus is on the important economic data of the US, the speech of Federal Reserve Chairman Jerome Powell and the monetary policy of the Reserve Bank of India. JM Financial vice-president Pranav Mer said that gold has now come out of the limited range in which it was stuck for a long time. Investors are paying close attention to the world's manufacturing and service sector data, US employment data and the mood of consumers. He further said that in addition to all this, Fed Chairman Jerome Powell's speech on Monday, the progress made in the Russia-Ukraine peace talks and the Reserve Bank of India's policy meeting on Friday will also be held. Investors will monitor all these developments very closely.

On the Multi Commodity Exchange (MCX), the February 2026 gold futures price jumped by Rs 3,654, i.e. 2.9 percent last week and closed at Rs 1,29,504 per 10 grams on Friday. Senior research officer of Angel One Prathmesh Mallya said that the weakness of the Rupee in India and local demand have greatly increased the fluctuations in gold prices. Festivals, weddings and the continuous purchase of jewellery are providing strong support to the prices of gold and silver in the Indian market. Mallya further said that the central banks of the world are constantly buying gold, which will keep the gold scenario positive in the long term. He said that central banks have been depositing gold for the last several years and this cycle will continue in 2026 as well.

Karthik Jonagadla, founder of Quantase Research, said that gold is the most straightforward and obvious way for investors to explain what they think about the future of real interest rates in the US. He further said that as long as there is a strong possibility of interest rate cut in December, the trend regarding gold and silver will be mildly positive. But if any figure comes suddenly and the expectation of rates falling soon weakens, then the recent uptrend may reverse. Therefore, it is very important to keep the right amount of investment and hedge against risk.

In the global market, the gold price of supply contracts rose by 138.8 dollars i.e. 3.4 percent in a week in December and closed at $4,218.3 per ounce on Friday. Pranav Mer of JM Financial Services said that after the resumption of business in the US market after 11 hours of interruption, gold prices have increased by more than one percent. A weak dollar, soft comments from some Federal Reserve officials and expectations of a possible 0.25 percent interest rate cut next month strengthened gold prices.

Silver gave better returns than gold

Meanwhile, silver performed brilliantly and was better than gold. Last week on MCX, the silver futures price rose by Rs 17,104 i.e. 10.83 percent.