According to a recent report by the World Gold Council, gold prices have broken a 10-year record, witnessing a remarkable 30% increase in 2024. The report states that by the end of November 2024, gold prices had surged to ₹7,300 per gram.
As per information from the World Gold Council (WGC), the primary reasons for this sharp rise in gold prices globally during 2024 were central bank purchases and investor demand.
What to Expect for Gold Prices in 2025
According to a similar report by the World Gold Council, 2025 is expected to be a positive year for gold, considering important factors like GDP growth, crop production, and inflation. However, the sharp growth observed in 2024 may not be repeated in 2025. The report suggests that any increase in gold prices in 2025 will largely depend on purchases by global central banks. Additionally, the role of China’s contribution to the gold market and central bank monetary policies will also significantly impact prices.
Predictions by Leading Analysts
According to Goldman Sachs, gold prices could reach an average of $3,150 per ounce by the end of 2025, which is approximately a 17% increase compared to current levels. They attribute this growth to high demand from global central banks, concerns about U.S. fiscal stability, and trade tensions. UBS analysts predict that gold prices may reach an average of $2,900 per ounce by the end of 2025. Currently, international gold prices hover at $2,720 per ounce, indicating a modest rise.