Gold-Silver Price Today: The effect of the financial system will be visible on the ‘shine’ of gold, the report claims…there will be a great rise.
Mumbai. In view of the changes taking place in the financial system in the world due to the decline in the influence of the dollar globally, fiscal pressure and increasing global tensions, the long-term outlook of gold remains positive and it is expected to remain bullish. Motilal Oswal Financial Services Ltd. (MOFSL) said in its quarterly report on gold that the price of gold could cross US $ 5,000 an ounce by the beginning of 2026. This is one of the strongest long-term bullish periods in modern history.
According to the report, gold has entered a ‘structurally revaluation phase’. This signals the beginning of a new ‘supercycle’ rather than a cyclical bullish trend. MOFSL expects the COMEX gold price to stabilize around US$6,000 per ounce (Rs 1.85 lakh per 10 grams in the domestic market) in the next 12 months. If global tensions and fiscal measures intensify, it may even reach US$7,500 an ounce in the medium term.
Motilal Oswal Financial Services Ltd. “The long-term outlook for gold remains positive,” said Navneet Damani, head of commodities research at Gold. “As global reserves gradually diversify away from dollar-centric assets and physical supplies remain limited, gold prices are likely to remain near and above US$5,000 an ounce.”
Damani said this cycle results not only from inflation, but also from confidence in the fiscal and monetary systems. According to the report, gold prices continued to rise even when real interest rates turn positive between 2023 and 2025, whereas prices usually fall in this situation. “Gold’s strength despite positive real interest rates reflects a clear shift in investor sentiment,” said Manav Modi, commodities analyst at Motilal Oswal.
Real yields are increasingly being seen as transitory and policy-driven, reducing the cost of holding gold and strengthening its role as a hedge against broader financial risks.” Trade tensions and tariff disruptions, along with rising global tensions in Eastern Europe, the Middle East and Asia, have led to increased inflation and currency volatility, according to the report. These developments have made gold more attractive as a neutral and reliable asset in times of uncertainty.
Damani said that as fiscal pressures increase and questions about monetary independence arise, gold’s role as a non-sovereign currency has become more important, leading to a structural change in demand. The report also noted that a reduction in global physical supply due to limited mine production, declining inventories in key markets and rising production costs also kept precious metals prices at high levels.
In the domestic market, falling rupee value and strong buying by retail buyers led to increased demand. Central banks are also continuously buying gold. It has been buying about 1,000 tonnes of gold annually for four consecutive years to diversify its reserves and reduce dependence on dollar-denominated assets. The report predicts that diversity in reserves, limited supply growth and ongoing global uncertainty will continue to impact investment behavior and that gold will remain well supported in the long term.
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