₹1 One Lakh Gold Dream: Powerful Rally or the Calm Before the Storm?
One Lakh Gold Dream
One Lakh Gold Dream: Because of the trade war, there is a greater chance of a global recession. The meltdown in the Forex and share markets has caused the precious metal to soar sharply amid the fear of a recession. Today, the price of 10 grams of gold in India surpassed Rs 1 lakh. Yesterday, gold prices in Ahmedabad too hit their maximum point at Rs 99500 per 10 kilos. In tandem with the global increase in gold prices, MCX gold hit a new all-time high today.
Following his criticism of Federal Reserve Chairman Jerome Powell’s decision, US President Donald Trump has escalated political tensions in the country. The Federal Reserve has hinted at the potential for inflation in the United States. Additionally, investors have shifted to bullion as a result of the danger of a worldwide economic slump brought on by tariffs. The price of spot gold reached an all-time high of $349.66 per ounce and was quoted at $3482.26, up 1.7%.
Gold price rises by Rs 6,000 in April :
Compared to the record level, the price of gold in Ahmedabad has risen by 26.43% in the current calendar year. The price per 10 grams on December 31 was Rs. 78700. It was Rs. 99500 yesterday. Additionally, silver is displaying a 12.14 percent return. The price of gold has gone up by Rs. 6000 just in the month of April.
Gold price target :
According to Goldman Sachs’ targets, the MCX gold rates would reach almost ₹1 lakh if the price of gold reached the $3,700 per ounce year-end target. The MCX gold rate would reach ₹1.25 lakh, nevertheless, if the US-China trade war escalates further and reaches the $4,500 per ounce threshold. However, one should consider short-term goals. The price of gold is currently between ₹91,000 and ₹97,000 per 10 gm, and the bull trend will continue until the US-China trade deal negotiations make some progress.
“Gold is likely to remain an attractive asset class as the global economy navigates through policy uncertainty and slowing growth,” Motilal Oswal’s Navneet Damani advised gold investors to stick to a “buy on dips” strategy. Gold continues to represent a ray of stability in a world where policy uncertainty, inflationary pressures, and unstable geopolitics rule the day. As central banks build their reserves and investors seek protection, gold will remain a popular asset. From a medium- to long-term viewpoint, we continue to hold a “buy on dips” stance, barring a major resolution to the global trade concerns.
Will gold prices soon reach a top of ₹1 lakh? (One Lakh Gold Dream)
“The outlook for gold price remains constructive,” stated Navneet Damani, Gout Sr. Vice President of Head Commodity & Currency Research at Motilal Oswal, when asked if gold prices would reach ₹1 lakh in the near future. Prices will continue to be supported by central bank gold purchases, inflationary pressures, and ongoing trade tensions. Key levels to keep an eye on on COMEX are US$ $3100 and US$ $3400, while technical levels provide strong support for gold at about ₹91,000 and resistance at about ₹99,000.
Will the price of gold drop precipitously?
Regarding the forecast for the price of gold during the stock market surge, Anuj Gupta stated: “The factors that have driven gold prices are still in place, therefore there is very little likelihood of a significant decline. The target price for gold has been raised by international stockbroker Goldman Sachs from $3,300 per troy ounce to $3,700 per troy ounce. Goldman Sachs has forecast that gold prices will reach $4,500 per ounce in high-risk situations. Therefore, it is anticipated that the bull trend in gold prices will continue, and any decline in the yellow metal should be interpreted as a chance to purchase.”
What is driving today’s gold prices?
“Gold rates today are skyrocketing due to the escalation in trade war and economic uncertainty created by Trump’s tariffs,” said Anuj Gupta, Head of Commodity & Currency at HDFC Securities, in reference to the factors that may continue to determine gold prices in the near future. The market fears a US recession, and most experts, including US Fed chairman Jerome Powell, have stated that a one percent tariff hike would result in a nearly 0.10 percent decline in US economic growth. These factors have therefore increased the demand for gold as a safe haven, which has caused prices to soar by almost 25% year-to-date and by more than 110% over the previous five years.
