Gold Price in 2024: Forget cheap gold, there will be a stormy rise in gold prices in the year 2024, know how far the price can reach.
Gold Rate Prediction:In the year 2023, gold has crossed its all-time high rate. This year gold has given returns of more than 15 percent. A stormy rise is expected in the coming year i.e. 2024.
HR Mandi Bhav: Gold Rate in 2024. A tremendous rise in the price of gold was seen in the year 2023. Gold reached its highest level. At present the price of gold has reached Rs 63060 per 10 grams. On December 4, gold reached the all-time high price of Rs 64063 per 10 grams in the year 2023. Gold has given returns of more than 15 percent in the year 2023. This ongoing rise in gold is expected to continue in the year 2024 also. According to market experts, the price of gold may cross Rs 70,000 in the year 2024.
Gold price in the year 2024
According to market experts, the ongoing rise in gold prices will continue in the year 2024. The impact of rupee stability, geopolitical uncertainty and slow global economic growth will be visible on gold. The Reserve Bank of India has kept the interest rates unchanged along with indications of softening of interest rates by the US Federal Reserve and signs of decline in inflation.
At the same time, the decline in inflation rates is indicating that RBI may give the gift of cutting interest rates in the coming days. Amidst these signs, the hope of rise in the price of gold remains intact. These changes will cause further decline in US bond yields, which may strengthen gold.
impact of global stress
Due to the Russia-Ukraine war, the ongoing war between Israel and Hamas, as well as increasing pressure on the global economy, there are signs of a rise in gold prices in Asia. According to the International Monetary Fund (IMF), global economic growth is likely to slow down due to the continuous increase in interest rates by major central banks.
In such a situation, the attraction of investors towards gold, which is always considered a safe investment, may increase. Gold as safe haven asset will gain strength amid war and global instability.
According to market experts, the price of gold in the international market can reach $ 2400 per ounce in the year 2024. The price of gold in the domestic market can reach Rs 70,000 per 10 grams.