Gold Price Prediction: ₹1.62 Lakh by Diwali? Should You Buy Gold Now or Wait?

Despite recent profit-taking in both domestic and international markets, gold’s long-term outlook remains firm, with analysts continuing to watch key support and resistance levels. In India, 24-carat gold prices have climbed sharply over the past four years, highlighting the precious metal’s strong long-term performance.

Recent market commentary places ₹1.49 lakh per 10 grams as an important support level for MCX gold. If international gold prices remain above key support levels, analysts believe domestic prices could move towards ₹1.60 lakh–₹1.62 lakh per 10 grams by Diwali 2026.

Gold Price Outlook: ₹1.62 Lakh Target in Focus

According to Jigar Trivedi, Senior Research Analyst at IndusInd Securities, ₹1.49 lakh has emerged as a key support level for domestic gold. A sustained recovery in global prices could provide further upside for MCX gold, with the ₹1.60 lakh–₹1.62 lakh zone remaining important for traders and investors.

Recent market reports have similarly identified ₹1.60 lakh–₹1.62 lakh as a crucial resistance zone for MCX gold.

Should You Buy Gold Now?

For consumers buying gold for weddings or other planned purchases, a staggered buying strategy may be more prudent than investing the entire amount at once. Instead of waiting indefinitely for a major correction, buyers can consider purchasing a portion during price dips and spreading the remaining purchases over time.

The approach is particularly relevant because gold prices remain volatile. Recent analyst commentary has pointed to both bullish medium-term trends and the possibility of short-term corrections.

Gold Investment Strategy: Buy on Dips?

For investors and jewellery buyers, the key levels to watch are ₹1.49 lakh on the downside and ₹1.60 lakh–₹1.62 lakh on the upside. A sustained move above the resistance zone could strengthen the bullish outlook, while a break below major support could trigger another correction.

Therefore, rather than treating ₹1.62 lakh as a guaranteed target, investors should view it as an analyst projection that depends on global gold prices, the rupee-dollar exchange rate, interest-rate expectations and geopolitical developments.