Gold's Gleaming Future: A Bullish Outlook Amid Global Shifts

Motilal Oswal Financial Services Ltd (MOFSL) indicates a bullish long-term outlook for gold as global de-dollarisation, fiscal stress, and geopolitical tensions reshape the financial landscape. According to their Precious Metals Quarterly Report, gold prices surpassed USD 5,000 per ounce in early 2026, marking a major milestone.

The report suggests that gold is experiencing a 'structural repricing phase', indicative of a new supercycle rather than a typical cyclical rally. MOFSL anticipates that gold could reach USD 6,000 per ounce over the next year, with potential to climb to USD 7,500 if current tensions intensify.

Navneet Damani, Head of Research, Commodities at MOFSL, noted that gold's strength amidst positive real interest rates reflects investor concerns over global debt levels and fiscal stability. Meanwhile, geopolitical tensions and inflation have bolstered gold's appeal as a safe asset, leading to increased demand and tight physical supply conditions globally.