News India Live, Digital Desk: The rapid growing price of gold has really shocked the common man. Think, a few months ago, the gold latest price, which was getting around 76 thousand rupees per 10 grams, is now going to touch about 1 lakh rupees! So far this year, gold has given a great return of about 35% to investors.
Now the season of weddings is also on the head, in such a situation it is believed that in the coming days, there may be more tremendous jump in gold prices.
A few days ago, the gold rate (sone ka bhav) touched the figure of Rs 1 lakh per 10 grams. Now the big question is, how far can the price of gold go up to big festivals like Dhanteras and Diwali? Experts have given their opinion about this, and they believe that gold prices may be breaking records by Diwali.
What is going on now the rate of gold?
Since Monday, Gold Rate has started climbing in Delhi’s bullion market. If we look at other cities, the price of 10 grams of gold almost everywhere remains above Rs 98,000.
Yes, last week, gold price hike had reached Rs 1 lakh per 10 grams, which also fell a bit of decline on the very next day. But even today, gold is trading above 98 thousand. Experts are clearly saying that it is difficult to expect any major fall in gold prices, given the kind of situation in the international market.
How expensive can 10 grams of gold be till Diwali?
If we talk about the world market, then gold was at around $ 3,290 an ounce (about 28.35 grams) on Monday. Large global brokerage houses such as Goldman Sachs and JP Morgan estimate that by the end of 2025, gold prices in the international market (SONE BHAV) can also cross $ 4,000 an ounce. These experts say that the biggest bounce in gold can be seen around Diwali and Dhanteras. Prices are expected to rise strongly fast due to increase in demand for gold on these festivals.
What will be the effect in India?
If you look at the International Market Prices and the estimates of experts are proved correct, then till Dhanteras and Diwali, gold can touch the sky in India’s bullion markets. Calculate $ 4000 an ounce (1 ounce ≈ 28.35 grams), then 10 grams of gold price can reach between Rs 1,20,000 to Rs 1,23,000!
It will be about Rs 24,000 per 10 grams more than the current rate of gold! If this happens, those investing in gold will get tremendous benefits.
(Important thing: These are just experts estimate, which are based on existing and previous figures. If you are thinking of buying gold or investing in it, always check the latest rate of that day.)
After all, why is gold getting so expensive?
Experts are giving many reasons behind this:
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Global Tension: Trade war between the US and China and tension in other parts of the world.
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Dearness: Rising inflation is also a big reason.
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Central bank shopping: Central banks (eg RBI) around the world are also buying gold, which has increased its demand.
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Safe investment: When the market increases uncertainty (such as stock market fluctuations), investors consider gold to be the safest (investment in gold) and invest in it.
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Upcoming season: The season of weddings and festivals is starting soon in India, which will increase the demand for gold and can also go up.
Overall, the price of gold is expected to remain high in the market situation and the upcoming festive season.
The post is breaking all the records! Will the price cross ₹ 1 lakh till Diwali? Know the opinion of experts first appeared on News India Live | Breaking India News, The Indian Headline, India Express News, Fast India News.
