Silver too is likely to move in tandem, though the gold-silver ratio is in its favour
Chennai: Having made a new high on Tuesday, gold prices have gone up by 12 per cent since the beginning of the calendar year. The uncertainties around global trade are likely to push gold to Rs 90,000 per 10 gm and silver to Rs 1.3 lakh in the first half of 2025.
Continuing the bullish trend, gold touched a new high of $2968 per ounce in the international market as the tariff war fueled positive sentiments in the bullion market. However, the sharp correction in equity markets saw investors booking profits in gold and prices coming down to $2905. In the Multi Commodity Exchange, gold prices went up to an all-time high of Rs 86,360 per 10 gm. The RBI intervention to curb volatility of rupee too led to corrections in the yellow metal.
“However, the fundamentals are strong with the uncertainties – both tariff-related and geo-political - looming large. We expect gold prices to touch $3000 and further move towards $3080 in the first half of the year. This could take gold to Rs 90,000 levels,” said Ajay Kedia, MD, Kedia Commodities.
Gold has appreciated 12 per cent since the beginning of the year and 34 per cent since January 2024.
Silver too is likely to move in tandem, though the gold-silver ratio is in its favour. Silver prices can touch Rs 1.3 lakh per kg in 2025.
