Gold Price Jumps ₹3,560 per Pound in 9 Days; Experts Predict 15 - 20% Further Rise
Gold prices continue to soar, reaching ₹81,200 per pound today. Since the beginning of September, prices have increased by ₹3,560 per pound, and experts suggest the upward trend may continue, with the potential for a 15–20% rise in the near term.
Currently, gold is being sold at ₹10,150 per gram and ₹81,200 per pound, with prices hitting fresh highs almost every day this month.
Global Factors Behind the Surge
US Political Uncertainty: Former US President Donald Trump’s ongoing tax dispute has created confusion in financial markets after two federal courts ruled against him, prompting an appeal to the Supreme Court.
Federal Reserve Policy: The US Federal Reserve is widely expected to cut interest rates soon.
Rising Imports: US agricultural imports have jumped by nearly 9%, amounting to around $33 billion, adding volatility to the economy.
Shift to Gold: Countries, including India, are selling US Treasury bonds and increasing gold reserves, reflecting declining global confidence in the US dollar.
Expert Outlook
Analysts say that if US citizens alone were to sell just 1% of their Treasury bonds and invest in gold instead, prices could rise by 15–20% per ounce, according to a recent report.
With global uncertainty persisting, gold is expected to remain the most sought-after safe-haven asset.
