KKN Gurugram Desk | In recent days, gold prices in Delhi have seen a significant rise, reaching an all-time high of ₹99,200 per 10 grams, creating a stir in the market. The chairman of the Sarafa Market in Chandni Chowk, Yogeshwar Ji, shared his insights with the team at Local 18, stating that this increase in gold prices is unprecedented in his 45 years of experience in the industry. As global economic factors such as currency fluctuations and tariff wars continue to impact the market, experts predict that the price of gold could rise even further in the coming years.

In this article, we will explore the reasons behind the surge in gold prices, the potential for further increases, and the economic factors driving the demand for gold. Additionally, we will examine how these rising prices are affecting the gold market, especially during the wedding season.

Gold Prices Hit Historic Levels: ₹99,000 per 10 Grams

In Delhi’s Sarafa Bazar, gold prices have crossed the ₹99,000 mark per 10 grams, with a slight decrease of ₹2,400, bringing the price to ₹99,200. This marks an all-time high for gold prices in the region, with analysts attributing the increase to both local and global economic dynamics. According to Yogeshwar Ji, the chairman of the Sarafa Bazar in Chandni Chowk, this rapid increase in gold prices is something he has never witnessed in his 45 years in the industry.

The price of 24-carat gold is currently around ₹99,000, while 22-carat gold is priced at approximately ₹91,000. With this sharp rise in gold prices, the market is experiencing increased demand, and many buyers are flocking to purchase gold as a safe-haven asset.

The Impact of Currency and Tariff Wars on Gold Prices

Yogeshwar Ji highlighted that the major reason behind the rising gold prices is the ongoing currency fluctuations and tariff wars happening on a global scale. According to him, people are losing confidence in currencies, particularly the US dollar, due to the unstable economic conditions caused by these factors. As a result, individuals and organizations are increasingly converting their funds into gold to safeguard their wealth, causing a surge in demand for the precious metal.

He explained that central banks, which previously used to sell gold to stabilize prices, are now becoming buyers, which is pushing the price of gold even higher. This shift in behavior by global investors and institutions is one of the key drivers of the rise in gold prices, as they seek gold as a more stable investment in uncertain times.

The ongoing currency wars and trade tensions between major economies have added to the uncertainty in the global financial markets. As a result, gold is becoming a preferred option for investors seeking to hedge against the volatility of currencies and the threat of inflation.

International Gold Buying: A Key Factor in the Surge

Yogeshwar Ji emphasized that the global buying spree of gold is another significant factor contributing to the rising prices. He mentioned that international buyers are continuing to stock up on gold, further increasing its value. According to reports from international traders, the price of gold has already reached around $3,500 per ounce, and experts predict that it could reach $4,500 in the near future.

As more people and institutions turn to gold as a safe investment, the demand for the metal is expected to remain strong, which will continue to push prices higher. The growing concerns over inflation, political instability, and economic uncertainty are all contributing to the increasing demand for gold in the global market.

Gold Price Predictions: A Surge of ₹8 Lakh in 10 Years

Looking ahead, Yogeshwar Ji predicts that gold prices could rise significantly over the next decade. He explained that if the current trend continues, the price of gold could reach ₹8 lakh per 10 grams within the next 10 years. This prediction is based on the ongoing demand for gold, both locally and globally, as well as the broader economic factors influencing the precious metal market.

An international report by a prominent US trader has suggested that gold prices could rise to $4,500 per ounce in the coming days, a significant increase from the current price of around $3,500. If this occurs, the price of gold could surge to ₹135,000 per 10 grams, marking a dramatic rise from its current value.

Given these projections, investors and buyers alike are advised to act quickly if they are looking to invest in gold, as prices are expected to continue their upward trajectory in the coming years.

Challenges in the Market: Wedding Season Impact

Despite the rising gold prices, the market has seen a slowdown in sales, particularly during the wedding season. In previous years, the wedding season would bring crowds to jewelry stores, with people eagerly purchasing gold for weddings and other celebrations. However, this year, the market has been relatively quiet, with fewer customers making purchases due to the high gold prices.

Many buyers are holding off on their purchases, hoping that prices might stabilize or fall. However, given the global economic situation and the increasing demand for gold, it is unlikely that prices will decrease significantly in the near future.

The higher gold prices have also impacted those who were planning to purchase gold jewelry for weddings. Many are opting for smaller quantities or lower-carat gold to stay within their budgets, while some are postponing their purchases altogether.

Economic Uncertainty and the Role of Gold in Times of Crisis

Gold has long been regarded as a safe-haven asset, especially during times of economic crisis or uncertainty. The ongoing geopolitical tensions, currency fluctuations, and trade wars are pushing investors to seek safer investments, with gold being the preferred choice. As a result, demand for gold is at an all-time high, driving its price to new records.

For many years, gold has been seen as a stable investment that can withstand economic downturns, and its popularity has only grown in times of global uncertainty. With concerns over inflation and currency devaluation, gold offers a hedge against the erosion of wealth, making it an attractive option for both individual investors and institutional buyers.

The Future of Gold: Key Takeaways

As gold prices continue to soar, experts predict that the demand for gold will remain strong in the coming years. The ongoing economic challenges, coupled with the increasing global interest in gold, suggest that prices may continue to rise. In the next decade, we could see gold prices reach levels that were once unimaginable.

For investors and buyers, it is crucial to understand the factors driving the rise in gold prices and make informed decisions about when to buy. While gold remains a valuable and reliable asset, it is essential to keep an eye on the global economic landscape, as changes in currency markets, geopolitical tensions, and trade policies could have a significant impact on its price.

As the market continues to fluctuate, the demand for gold is unlikely to wane. Whether you are an investor looking to diversify your portfolio or a buyer looking to purchase gold for personal reasons, now is the time to stay informed and act accordingly.

Gold is currently experiencing an unprecedented rise in prices, with projections indicating that this trend could continue for the next decade. Factors such as currency wars, global economic instability, and increasing demand for safe-haven assets are all contributing to the surge in gold prices.

For those interested in purchasing gold or investing in it, understanding these economic factors is crucial. While the high prices might be discouraging for some, experts believe that gold will remain a valuable and reliable asset for the foreseeable future. Whether for weddings, investments, or personal wealth preservation, gold continues to hold its place as one of the most trusted and valuable assets in the world.

As the global economic landscape continues to evolve, the price of gold is expected to reflect these changes, making it a key investment for those seeking long-term financial security.