Gold prices maintain their rising streak on Thursday, March 20 as well. Moreover, the popular choice for jewellers, 22-carat gold, prized for its durability, is priced Rs 83,100 for 10 grams.
The price of 24-carat gold too surged on Thursday, with 10 grams of it selling at Rs 90,660, according to Good Returns. Silver prices too witnessed a surge and are now standing at Rs 1,05,100 per kilogram, according to Good Returns.
The rate of ten grams of 24-carat gold and 22-carat gold in Delhi is comparatively higher. The price of 24-carat and 22-carat gold in Delhi currently stands at Rs 90,810 and Rs 83,250, respectively.
When Will Gold Prices Hit Rs 1 Lakh Mark?
“The yellow metal may take two to three years to reach the Rs 1 lakh level. It has delivered a compound annual growth rate (CAGR) of around 10% over the past five to ten years. Based on this trend, gold may hit Rs 1 lakh within the next two to three years,” said an analyst from Motilal Oswal.
“The possibility of gold touching Rs 1 lakh mark stems from either the international gold prices touching $3,300 an ounce and USD-INR coming at 89 levels. For the year 2025, even if the international prices were to cross this number, rupee weakness in the USDINR pair should be anywhere in the range of 88 or 89. Only with a combination of these two, we could see gold in the domestic markets crossing Rs 1 lakh, which seems unlikely for the year 2025,” said NS Ramaswamy, the head of the commodity desk at Ventura.
Rahul Kalantri, VP of commodities at Mehta Equities, says that gold prices could rise to Rs 1 lakh per 10 grams in the next one to two years.
Moreover, in January 2025, Subhash Chandra Garg, former finance secretary of India, in an exclusive interview with News24 said, “it may take around six months to a year for gold prices to reach that higher level.”
