The government's decision to raise import taxes on edible oils by 20 percentage points in mid-September also likely helped to drive prices up faster, further straining household budgets. The latest upgrade builds on that view, reinforcing expectations that institutional demand will remain a durable pillar of support for the market. Traders analyzing Bollinger Bands project gold price forecast India 2026 volatility expansion in Q3, with upper band nearing ₹75,500 in breakout scenarios driven by surge in ETF inflows.
