New Delhi, Sept. 26 -- Gold prices could rise to USD 4,600-5,000 per ounce in the first half of 2027 as elevated US real yields and a stronger dollar ease, even as the precious metal is expected to consolidate at high levels through the remainder of 2026, ICICI Bank said in a research report.

The bank expects gold to trade in the USD 4,200-4,600 per ounce range for the rest of 2026, with a marginal upside bias in the first half of 2027. It said the medium-term outlook remains supported by investment demand, continued central bank purchases and demand for gold as a hedge against geopolitical, financial and policy uncertainty.

"We retain our view gold prices to trade in the USD 4200/oz to USD 4600/oz range over the remainder of 2026. We e...