Gold Price: Gold prices have risen tremendously in the last few months. The price of Gold Futures crossed ₹ 95,000 per 10 grams for the first time on the commodity exchange MCX. At the same time, according to All India Sarafa Association, the price of 24 carat gold in Delhi on Wednesday (April 16) has increased by ₹ 1,650 to ₹ 96,450 per 10 grams.
What are the experts saying about gold prices?
According to Colin Shah, former chairman of GJEPC, people are avoiding buying jewellery due to the rise in gold prices. However, the demand for gold for investment is increasing continuously. He said that the period of uncertainty in the market is likely to continue for another 6-9 months. Therefore, investors will continue to focus on gold. Colin Shah says, ‘Gold prices are expected to rise by at least 10% to 15% in the future. He said that gold buying will continue even after the rise in prices.’
How much can the price of gold increase?
Right now the price of 24 carat gold is around ₹96,450. According to Colin Shah, a 10% to 15% increase is expected. In such a situation, the rate of gold can go up to ₹1.06 lakh to ₹1.10 lakh per 10 grams.
At the same time, reputed brokerage firm Goldman Sachs has predicted a 25% increase in the price of gold by the end of 2025. According to this, the rate of gold can reach ₹ 1.20 lakh per 10 grams.
Will the price of gold also fall?
Many experts believe that once the global economic uncertainty is resolved, the price of gold may fall sharply. John Mills, market strategist at Morningstar (USA), estimates that the price of gold may crash by up to 40%. According to this, the gold price in India may be around ₹ 55,000 per 10 grams. Experts like John Mills believe that due to increase in gold supply, decrease in demand and removal of global uncertainty, there will be a big fall in the price of gold.