Gold prices are continuing to climb day by day, driven by developments in the international market, geopolitical tensions and inflation. Market experts estimate that the international price of gold could reach between 7,000 and 7,150 dollars per troy ounce. Should this happen, they say, the price of 10 grams of gold in India could cross the Rs 2 lakh mark in the coming days and rise to around Rs 2.22 lakh.
At the same time, sharply contrasting forecasts are also being heard. Analysts warn that the possibility of an unexpected and significant market correction, leading to a fall in prices, cannot be ruled out. According to the most pessimistic, or lowest, estimates in the LBMA survey, the price of one troy ounce of gold could drop to 3,450 dollars in the future.
Experts add that developments such as a strengthening dollar or central banks across various countries slowing the pace of their gold purchases could push the domestic price of 10 grams of gold back to a range of Rs 1 lakh to Rs 1.05 lakh. However, given the constantly shifting global conditions, gold prices could rise again at any time.