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Business News: Investment Bank Goldman Sachs has recently released an estimate, stating that gold prices can reach $ 4,500 an ounce in the international market due to the possibility of the US-China trade war and global recession. If this estimate is proved correct, the price of gold in India can reach Rs 1.30 lakh per 10 grams. This increase can make purchasing gold for general investors and common man an expensive and difficult option.
As of today, the price of gold in the Delhi bullion market is around Rs 96,450 per 10 grams. If the estimate of Goldman Sachs is correct and gold prices rise, then this price can reach about Rs 1.30 lakh per 10 grams. In such a situation, it can be difficult for the common man to buy gold for his home. Especially those people who were thinking of buying gold for wedding or other celebrations will be quite high for them.
It will be a challenge not only for individual investors, but also for those families who are planning to buy gold with their small and big savings. Rising prices of gold can limit their purchasing capacity. In addition, people who are considering selling old gold will also not be able to fully benefit from its rising prices, as there may be inequality in the prices of buying and selling in the market.
Goldman Sachs has also said that central banks are increasing gold purchases, especially in emerging markets. While this change is promoting gold prices, gold investment can become a risk for the common man, as the excessive increase in prices will directly affect their pockets.
The rising prices of gold can definitely be a matter of concern for the common man. If prices really reach Rs 1.30 lakh per 10 grams, then it will not be a safe investment or purchase option for many people. In such a situation, people will have to reconsider their financial decisions keeping this increase in mind, so that they can fulfill their financial goals while living within their budget.
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