Gold Forecast: Precious Metal Could Hit $6,000/Ounce Amidst West Asia Turmoil
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Gold Price Prediction: Metal Could Hit $6,000 Amid West Asia Chaos
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News18•02-03-2026, 13:52
Gold Price Prediction: Metal Could Hit $6,000 Amid West Asia Chaos
•Gold prices could surge to $6,000 per ounce if West Asia tensions escalate, with the rupee potentially weakening to 92-92.5 against the US dollar, according to Elara Capital.
•Spot gold is currently trading near $5,400 per ounce, with geopolitical tensions strengthening its appeal as a safe-haven asset.
•Domestic gold prices jumped 4.37% to Rs 1,69,194 per 10 grams (24 karat) on Monday morning.
•Sustained crude oil prices at $90/barrel or higher could widen India’s current account deficit and weaken the USD-INR pair.
•Global investment banks like J.P. Morgan and Bank of America also predict gold prices could approach $6,000, with J.P. Morgan forecasting $6,300 by end of 2026.
