Gold Prices Rebound Above $4,100; ITC Stock Eyes Potential 14% Rally

Precious metals experienced a notable rebound as of June 27, 2026, with Comex gold climbing back above the $4,100 per ounce threshold. In the domestic Indian market, 22K gold is trading at ₹67,200 per 10 grams, while 24K gold stands at ₹73,300 per 10 grams in major hubs like Mumbai and Delhi. This upward momentum, aided by a softening dollar, marks a significant reversal from earlier in the month when gold prices had briefly dipped below the $4,000 per ounce level.

Beyond the commodities sector, institutional analysts are eyeing a recovery in blue-chip equities. Bajaj Broking recently issued a bullish forecast for ITC, suggesting the stock is nearing the conclusion of a 21-month correction phase. Analysts project a potential 14% rally in ITC shares over the next six months, signaling renewed confidence in domestic retail and consumer goods sectors despite broader market fluctuations.

The recovery in precious metals reflects a broader global shift in risk sentiment as the greenback weakens. For the Indian investor, the stabilization of gold prices provides a clearer outlook on hedging strategies, while the technical setup for ITC suggests potential growth opportunities. Market participants are advised to monitor further shifts in the dollar index, which remain the primary driver for both commodity valuations and capital flows into Indian equities.