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There is a record increase of 30% in the price of gold in the year 2024. With this, gold has broken the record of the last 10 years. This information has been received from the latest report of the World Gold Council (WGC). According to the report, the price of gold has increased by Rs 7,300 per gram this year (by the end of November). The WGC report said that the sharp rise in global gold prices in 2024 was mainly due to buying by central banks around the world and buying by investors. Let us know whether the price of gold will continue to rise like this in 2025 or whether there will be a recession.
Gold price outlook in 2025
According to the report of the World Gold Council (WGC), if we look at major factors like GDP, crop production and inflation, 2025 will be a positive year for gold. However, we will not see a rise in prices like 2024. If there is a rise, it will be due to purchases by central banks around the world. At the same time, the impact of the monetary policy of central banks will also be seen. Moreover, China’s contribution to the gold market will be significant.
Goldman Sachs expects big rise
Goldman Sachs expects gold prices to reach $3,150 an ounce by December 2025, about 17 percent above current levels. He believes a large portion of this price increase will be driven by higher demand from global central banks as well as concerns over US fiscal stability and trade tensions/wars. UBS analysts also expect gold prices to reach $2,900 an ounce by December 2025. Currently, the price of gold in the international market is beyond $2.72 per ounce. Due to this, the price of gold in the Indian market is beyond Rs 80 per 10 grams.
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