India, June 18 -- Gold has had a forgettable first half of 2026. After one of its best years on record in 2025, when it gained 65%, the metal has spent most of this year drifting sideways and is barely changed from where it began January. That flat performance has cooled investor enthusiasm considerably. JP Morgan Global Research, however, has not changed its view - the bank is projecting gold at $6,000 per ounce by the end of this year, rising to $6,300 per ounce by end-2027.

For Indian buyers, these numbers carry real weight. At the current exchange rate of Rs95 per dollar, and after factoring in India's 6% Basic Customs Duty, 1% Agriculture Infrastructure Development Cess, and 3% GST, gold futures are currently trading around Rs1,52,0...