Gold Price: Demand for gold has increased again, find out how far gold prices can go
Gold Price: Gold prices continued to surge, driven primarily by a decline in the yen and increased demand for safe-haven investments due to the US government shutdown. According to a report, gold prices have risen by more than 50% in the past few months, outpacing other asset classes such as equities and real estate.
News, Digital Desk- (Gold Price) Gold prices continued to rise, mainly due to the fall in the yen and the increasing demand for safe haven investments due to the US government shutdown.
Additionally, rising expectations of interest rate cuts by the US Federal Reserve also supported gold. In Mumbai, the price of 24 carat gold was ₹1,20,770 per 10 grams, while the price of 22 carat gold was ₹1,10,700 per 10 grams. These prices do not include GST and making charges. (today gold price)
Meanwhile, in the international market, gold crossed the $3,900 per ounce mark for the first time on Monday. US spot gold rose 0.9% to $3,922.28 per ounce by 02:08 GMT, having reached an all-time high of $3,924.39 earlier in the session. US gold futures for December delivery rose 1% to $3,947.30. (sone ke taaza daam)
Gold prices have risen by more than 50% in the past few months, outpacing other asset classes such as equities and real estate. The yellow metal is trading near its all-time high, and experts believe this upward trend could continue, with occasional dips. (gold's latest rate)
International gold prices could rise from the current level of around $3,800 per ounce to over $4,800 per ounce, a rise of over 26%, said Sandeep Raichura, director at brokerage firm PL Capital.
How far will the gold reach?
Major brokerage firms have forecast a significant increase in gold prices, with Goldman Sachs being the most optimistic. Goldman Sachs believes gold could reach $4,300 per ounce by the end of 2026.
UBS, meanwhile, estimates gold will reach $4,200 per ounce by mid-2026. Other major institutions are also quite positive about gold's future;
Deutsche Bank and Citi both believe gold could trade at $4,000 per ounce in 2026, while JPMorgan expects this level to be reached only by mid-2026. All these forecasts clearly indicate that gold will remain a strong investment option in the long term.
Shreyansh Kapoor of Kashi Jewellers says that the market is expecting further increases in gold prices, which has created an atmosphere of fear. People are buying in panic to avoid paying higher prices in the future. Shopping for weddings is also continuing.