---
title: "Goldman Reiterates $5400 Gold Target As India Curbs Trigger Bridal Jewelry Panic-Buying"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286652799.md"
description: "Goldman Sachs maintains its $5400 gold price target amid panic-buying of bridal jewelry in India, triggered by the recent currency collapse. The Indian rupee has fallen to a record low due to inflationary pressures from energy disruptions, prompting the Reserve Bank of India to intervene. PM Modi has urged citizens to limit gold purchases to stabilize the currency."
datetime: "2026-05-16T19:47:20.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286652799.md)
  - [en](https://longbridge.com/en/news/286652799.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286652799.md)
---

# Goldman Reiterates $5400 Gold Target As India Curbs Trigger Bridal Jewelry Panic-Buying

_**Who could have seen that coming?**_

Following the **collapse of India's currency** over the last couple of weeks _(due in large part to theworld’s third-largest oil importer beinghit hard by the inflationary shock caused by energy disruptions in the Persian Gulf, driving sharp FX outflows, pushing the rupee down to a record low and prompting the Reserve Bank of India to step in and sell dollars),_ PM Modi initially**urged citizens to forgo gold purchases** as well as unnecessary foreign travel in order to help hold up the currency.

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