Chances of gold prices hitting new record highs up, says Kedia Advisory
This story was originally published at 15:09 IST on 24 February 2026
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MUMBAI – The probability of gold prices reaching new all-time highs remains elevated, especially after prices surged to multi-week highs Monday and climbed above the critical $5,150 per-ounce mark on COMEX and INR 161,000 per 10 grams on the Multi Commodity Exchange of India, Kedia Advisory said Tuesday. The brokerage said immediate psychological resistance is pegged at $5,300 per ounce and a sustained break above this level could clear the path towards $5,500 per ounce.
On the downside, the former resistance at $5,100 per ounce has now flipped into a primary support zone. As long as prices hold above the $4,850 per-ounce structural floor, the probability of reaching new all-time highs remains heightened, it added. "Gold is positioned for further upside as trade-war fears dominate the narrative," the broking firm said. "While brief pullbacks are expected, the trend remains bullish with a target range of $5,300 to $5,500 (per ounce)."
At 1444 IST, the April gold contract on COMEX was 0.6% lower at $5,195.5 per ounce and the same-month contract on the MCX was at INR 160,742 per 10 grams, down 0.5% from the previous close.
Beyond the charts, the fundamental landscape is shifting rapidly, Kedia Advisory said. "While recent US PCE (personal consumption expenditures) inflation data at 3% suggests the Federal Reserve may keep rates higher for longer, the market is currently prioritizing 'geopolitical insurance' over interest rate yield," it said. The return of Chinese buyers following the Lunar New Year holidays has injected fresh liquidity into the market. With trade negotiations between the US on one side and the European Union and India on the other reaching an impasse, gold continues to serve as the ultimate diversifier against a fractured global economy, it added. End
US$1 = INR 90.96
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Ashutosh Pati
Edited by Rajeev Pai
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