Gold Outlook: Brokerage Sets ₹1.60–1.68 Lakh Medium-Term Target, Recommends Buying on Dips
Gold prices are expected to reach ₹1.68 lakh per 10 grams in the next six to 12 months due to global uncertainties and increasing demand for safe investments. Meanwhile, gold fell by ₹2,500 and silver by ₹2,000 in the Delhi bullion market due to weak demand on Dhanteras.
The prices of gold are likely to move higher in the coming months. Taking into account the current market trends globally, the price within the domestic market is expected to go up to ₹1.68 lakh per 10 grams in the next six to 12 months.
According to a report by Motilal Oswal Financial Services, any decline in the price will offer an excellent chance for investment. The report says that the international prices of gold will touch $4,500 to $4,700 per ounce in the medium term. In the meantime, the near-term target of the domestic market is set at Rs 1.48 lakh per 10 grams.
Due to weak demand, gold prices fell by Rs 2,500 to Rs 1,46,300 per 10 grams in the Delhi bullion market on Dhanteras. Silver prices also fell by Rs 2,000 to Rs 1,92,500 per kilogram.
