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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
Gold to hit Rs 1 Lakh? Anuj Gupta answers, shares smart way to invest now
Gold has been on a relentless upward trajectory, and it is believed the highly anticipated Rs 1 lakh per 10 grams mark may not be too far off. With central banks continuing to accumulate gold, geopolitical risks persisting, and inflation concerns lingering, the gold rally shows no signs of stopping.
Anuj Gupta, Head of Commodities & Currencies at HDFC Securities, remains optimistic about gold’s continued rally, citing strong demand, global uncertainty, and central bank purchases as key drivers.
In an interaction with ET Now, Gupta noted that gold’s sharp rise over the past five years is primarily due to increasing investment demand rather than just jewelry consumption.
«Now investors are taking gold as an investment, not as jewelry, so we saw a huge demand in gold bars, in gold coins, the demand is increasing,” he explained.
This shift has pushed global gold prices to record highs, with MCX prices currently hovering around Rs 88,350 per 10 grams and international spot prices near $3,012 per ounce.
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Can gold hit Rs 1 lakh?
With gold prices steadily shifting to higher price bands, many investors are asking whether Rs 1 lakh per 10 grams is achievable. Addressing this, Gupta remarked, „Yes, see, I can’t say right now, but yes, definitely, as the long-term horizon, it may test Rs 1 lakh.“
In the short term, however, he expects gold to touch Rs 90,700-91,000 per 10 grams on MCX and $3,200 per ounce internationally by the end of the financial year. „The trend is still bullish. Since January 2025, gold
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