National News
Gold and Silver Prices Set to Surge in 2025- Gold Could Reach Rs 90000
Gold prices in India surged by 21% in 2024, driven by central bank policies, geopolitical risks, and strong global demand. As of January 1, 2025, gold prices were Rs 78,000 per 10 grams for 24K, with predictions pointing towards a rise to Rs 85,000-90,000 in 2025. While gold outperformed other commodities in 2024, experts recommend a “buy-on-dips” strategy for investors, as prices may consolidate before further gains. Geopolitical tensions and central bank actions will continue to support the demand for gold and silver.
Silver also saw impressive gains in 2024, with prices expected to reach Rs 1.1-1.25 lakh per kg, fueled by industrial and investment demand. Experts like Manav Modi from Motilal Oswal Financial Services maintain a positive outlook for both metals in the medium to long term, forecasting potential price growth even amid market fluctuations. However, while Rs 1 lakh for gold is considered optimistic, extreme economic conditions could push it towards that mark.
National News
Gold and Silver Futures Open Higher Amid Volatility In Currency and Bond Markets.
Strong Investment Demand and Continued Gold Buying By Central Banks, Especially China’s Central Bank, Further Supported Prices.
Gold and silver futures opened higher on Friday as investors turned to safe-haven assets amid volatility in currency and bond markets.
Gold futures opened higher on MCX. The benchmark October gold contract opened at Rs 1,60,630 per 10 gram, up Rs 1,205 from the previous close of Rs 1,59,425.
Silver futures also opened higher. The benchmark September silver contract on MCX opened at Rs 2,44,988 per kg, up Rs 1,745 from the previous close of Rs 2,43,243.
Rising crude oil prices, following the US move to impose wider sanctions on Iran, also raised concerns about inflation. Strong investment demand and continued gold buying by central banks, especially China’s central bank, further supported prices.
In global markets, gold was trading near $4,590 per ounce on Comex, while silver was around $69 per ounce. On MCX, gold futures were near Rs 1,59,700 per 10 grams and silver futures around Rs 2,44,600 per kg at the time of writing.
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