Gold returns 26% in 2024, experts say – gold and silver will make record in the new year
Gold Silver Price: The price of both gold and silver has set a record in the year 2024. But now both of them are expected to remain bullish in the coming year. Know from the experts, where can the price of gold and silver climb in 2025?
Gold Price Today: The year 2024 has been great for investors from the stock market to gold. In 2024, gold gave the highest return during the last 10 years. It registered an annual increase of 26% during this period. The reason behind this was the purchase of gold by central banks, geo-political tension and the plan to reduce interest rates by global central banks (including RBI). In the year 2024, the price of gold crossed the level of Rs 80,000 per 10 grams. But due to the policy of the US Federal Reserve (Fed), it stopped the boom.
Gold and silver prices likely to remain strong in the new year
According to the https://ibjarates.com/, on December 31, gold closed at Rs 76,162 per 10 grams. This is about 5% lower than gold's all-time high level of Rs 80,282. In 2024, gold and silver have increased the importance of both metals in the portfolio. Gold and silver are expected to remain strong in 2025 with expectations of low inflation, geo-policy and monetary policy changes. Experts expect that the price of gold as a safe investment will continue to break records in the new year and it can reach Rs 85,000 per 10 grams.
Gold
can cross the record level of Rs 90,000 in the domestic market amid geo-political tension and uncertainty of the global economy. The accommodative stance in monetary policy and the purchase of central banks will increase its prices. However, if the geo-telecom tension is reduced, the fall in the rupee will stop, which may soften the price of gold. In the current spot market, gold is trading at Rs 79,350 per 10 grams and MCX futures trading at Rs 76,600 per 10 grams.
The price of gold reached an all-time high of Rs 82,400 per 10 grams on October 30 this year. Silver also did not lag behind and it crossed the level of one lakh rupees per kg. Experts say that due to geo-policy tension, central bank purchases and interest rate reduction by major central banks, the price of gold will continue to make records in 2025. Jatin Trivedi, Vice President and Research Analyst at LKP Securities, said that there is a positive trend towards gold in 2025. However, the upside may be lower than in 2024.
Silver will reach close to 1.25 lakh rupees!
"Gold prices are expected to touch Rs 85,000 in the domestic market. In good condition, it can also reach Rs 90,000. If the geo-petrol tension continues or it increases, then the silver rate can reach Rs 1.1 lakh or even Rs 1.25 lakh with a slight increase. "The interest rate cycle is important as lower interest rates will liquidity the markets and weaken the US dollar, which in turn will boost gold prices," Trivedi said.
Gnanasekhar Thiagarajan, co-founder and CEO of Comtrendz Research, said gold prices are struggling to sustain the momentum. He said that there is a bearish forecast for gold in the first half of 2025. Rahul Kalantri, Vice President, Commodities, Mehta Equities Ltd, said, "Gold jewellery consumption will increase by 17 per cent in 2024, mainly due to fluctuations in gold prices as well as festive and wedding-related demand.