What Will Be Price Of Gold In 2030?

With some experts suggesting that gold prices will close to double by 2030, it presents a significant opportunity for investors

Gold is an investment option that has never lost its luster. Price of gold has witnessed continuous appreciation over the years. From around Rs 4,400 per 10 grams (24 karat) in year 2000, gold prices are now hovering above Rs 90,000 per 10 grams. As gold prices are expected to increase further, many people are looking to invest in the precious metal. To understand its potential, let us try to estimate what will be the price of gold in 2030.

Price of gold in 2030

As per conservative estimates, it is expected that the price of gold will witness a moderate increase of 5-7% per year. If that rate is maintained over the next five years, gold prices will be around Rs 1.10 lakh to Rs 1.20 lakh per 10 gram in 2030.

Moderate estimates suggest that gold prices will see appreciation of around 13% per annum. In that case, the price of gold in 2030 could be around Rs 1.50 lakh to Rs 1.68 lakh for 10 grams. At the higher range, it is estimated that gold prices in 2030 may actually cross the Rs 2 lakh mark. Some experts have suggested gold prices to reach up to Rs 2.25 lakh per 10 grams by 2030. However, these are highly optimistic scenarios that may not come true. But even with conservative and moderate estimates, gold prices are expected to increase dramatically in the next five years.

Factors influencing price of gold in next 5 years

A number of factors will determine the price of gold in the coming years. One of the key factors is the ongoing shift from a unipolar world to a multipolar world. This transition will bring about various challenges and opportunities for the world’s top economies. If recession fears come true, gold prices could witness a higher rate of value appreciation. If there are no major changes to the world economy, gold prices will increase at a moderate rate.

Another factor that can influence gold prices is the warlike situation in different parts of the world. Some examples include the ongoing conflicts in Ukraine and the Middle East. If war escalates and involves more countries, prices of gold could rise further. Gold prices are also linked to the value of the dollar. If the dollar weakens in the coming years, the prices of gold will increase.

Cultural factors will continue to impact prices of gold in India. Traditionally, Indian households have always preferred buying gold. This traditional demand for gold can vary based on the economic situation. If people have more money in their pockets, traditional households could allocate more funds towards buying gold. If domestic consumption rises in the coming years, prices of gold will increase by 2030. Keep these factors in mind if you are planning to invest in gold.