gold price The momentum is showing no sign of stopping. Let us tell you that in the last five years, the price of 10 grams of gold has become costlier by Rs 41,000. If we compare the returns given by gold on Akshaya Tritiya, the yellow metal has increased from ₹31,729 per 10 grams in 2019 to ₹72,750 per 10 grams in 2024. In this way, in the last 5 years, the price of gold has increased by approximately ₹ 41,000 per 10 grams. In the last one year, gold has given excellent returns of about 15 percent to investors.
Gold price will increase further
Bullion experts say that this trend of increase in the price of gold is not going to stop. Geopolitical tensions, bumper purchases of gold by the central bank, fluctuations in the dollar index as well as crises like the Russia-Ukraine conflict and Israel have increased the demand for gold. This has increased the demand for gold as a safe investment. This will work to increase the price. In the coming time, the price of gold will reach a new record high.
How far can the price of gold go?
Anuj Gupta of HDFC Securities said that despite the high price of gold, we believe there is still scope for further growth. Prices are expected to reach ₹80,000 to ₹85,000 in the upcoming Akshaya Tritiya. ₹69,500 is a good entry point for long-term gold investors.
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