Gold prices may hit Rs 1 lakh soon

Gold prices in India could soon touch Rs 1 lakh per 10 grams, as global uncertainties continue to push investors towards safe-haven assets, experts said on Saturday.

The sharp rise in gold prices is being driven by fears of a slowdown in the US economy, fuelled by President Donald Trump’s renewed tariff policies.

According to estimates by global brokerage Goldman Sachs, gold prices could reach $3,700 per ounce in the near term, and possibly touch $4,500 per ounce if trade tensions



escalate further.

If this happens, domestic gold prices on the Multi Commodity Exchange (MCX) could climb to Rs 1 lakh or even Rs 1.25 lakh per 10 grams, market experts said.

Gold has already delivered strong returns to investors. In the last five years, gold prices have jumped more than 110 per cent, from Rs 44,906 per 10 grams on April 17, 2020, to Rs 95,239 per 10 grams on April 17.

In the year-to-date (YTD) period alone, prices have risen by nearly 25 per cent.