NEW DELHI : Gold prices in India could rise to around ₹1.5 lakh per 10 grams in the coming months, supported by strong global demand, central bank purchases, and renewed interest from Asian buyers, according to Anantha Padmanaban, founder member and former chairman of the All India Gem & Jewellery Domestic Council.
The current spot rate stands near ₹1.31 lakh per 10 grams on MCX, with a possible short correction to ₹1.15 lakh before prices move higher. Globally, gold is trading close to $4,500 per ounce and may touch $5,000 amid geopolitical tensions and safe-haven buying.
India, one of the largest holders of gold, is estimated to possess 25,000–30,000 tonnes in public and institutional reserves. Industry experts expect more consumers to shift toward 14-carat jewellery to manage rising costs.
The GJC has also urged the government to simplify the gold monetisation scheme to boost supply, suggesting relaxed KYC norms for deposits up to 500 grams. India’s gold imports are expected to decline to around 500 tonnes this year, with consumption at 700–750 tonnes.
India's gold prices could escalate to ₹1.5 lakh per 10 grams, fueled by global demand and central bank buying. Presently at ₹1.31 lakh, a temporary correction to ₹1.15 lakh is possible. On the global stage, gold is trading near $4,500 per ounce, with potential to reach $5,000 amid geopolitical uncertainties.