# Inflation, monetary policy now steer gold prices more than war: Report 2026-08-10T08:59:46+00:00 | Business & Economy | Indian Opinion Desk Corroboration: 1 independent outlet A Motilal Oswal Financial Services report says inflation, interest rates, and monetary policy now influence gold prices more than geopolitical conflicts. In the first half of 2026, rising bond yields acted as a stronger headwind than traditional safe-haven demand, even during elevated tensions. The report forecasts that gold could reach $4,800 per ounce overseas and Rs 1.68 lakh per 10 grams domestically, with a possible 6-8 per cent correction before that. It expects inflation trends, Federal Reserve communication, and global liquidity to remain key drivers in the second half of the year. Central bank buying and ETF flows continue to support the long-term outlook. ## Coverage - rediff.com Tags: gold prices, inflation, interest rates, monetary policy, Motilal Oswal, precious metals Canonical: https://indianopinion.org/inflation-monetary-policy-now-steer-gold-prices-more-than-war-report/ License: Summary and commentary (c) Indian Opinion, reusable with attribution. Facts belong to the linked sources. Cite: https://indianopinion.org/inflation-monetary-policy-now-steer-gold-prices-more-than-war-report/#story-in-brief Review state: restored archive article, accurate at time of publication, not offered to search indexes.