Gold Price: If you are an Indian and dont love gold, thats not possible. But this year Gold snd Silver prices are in peak level. In 2024, Gold and Silver prices have risen the fastest this year and new records are being made continuously. Gold has touched the Rs 81,000 mark and silver has also reached one lakh rupees. Experts say that if this period of boom continues, then by next Diwali, gold can reach one lakh. Yes you’ve heard it right. Not only gold, Silver will also do wonders and can touch the level of 1.25 lakh to 1.30 lakh.
In this context, silver prices can see an increase of up to 30 percent in the coming year. Silver prices can go up to Rs 1.25 lakh to Rs 1.30 lakh per kg. At the same time, gold can also give returns of more than 20 percent.
Silver price hike
According to a report by brokerage firm Motilal Oswal Financial Services Limited, silver has been overtaking gold in giving profits for the past several years. In the year 2024, it has given the highest return of 40 per cent so far. In the coming year too, the performance of silver can be better than gold. The company has estimated that the price of silver can go up to Rs 1,25,000 per kg in the next 12 to 15 months.
Gold doubles money in 5 years
Gold has been performing consistently since 2016 and has been maintaining a positive trend. It can go up to Rs 85,000 in the medium term and Rs 1 lakh in the long term. Statistics also show that investors who bought gold on Diwali in the year 2019 have received a profit of about 103 percent till this year. That is, their money has more than doubled within five. This year, gold has given 33 per cent returns, which is the highest in 45 years.
Experts also say that the price of gold and silver will continue to rise, but they will also see a decline in between. According to the quarterly report, there can be a correction of 5 to 7 percent in their prices. This will be a good opportunity to invest and investors can buy.
Why gold prices are high?
1. Rapidly rising geopolitical tensions across the world.
2. Growing uncertainty over the US presidential elections.
3. Cut in rates by central banks of many countries.
4. Big countries including India increased their gold reserves.
5. Investments in gold rise on fears of fall in stock markets.
6. Jewellers increased shopping during the festival and wedding season.
Investment Options in GolFund.
- Gold and silver jewelry.
- Government Gold Bonds.
- Gold and Silver ETFs.
- Digital Gold-Silver.
- Gold Savings Fund.
- Gold and Silver Mutual Funds.