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So far this year, the price of gold has increased by about ₹ 50 thousand. On December 31, 2024, 10 grams of 24 carat gold was worth ₹ 76 thousand, which has now become ₹ 1.26 lakh.
In such a situation, RPG Group Chairman Harsh Goenka has compared the value of 1 kg gold in a post. According to Goenka, in 1990 the value of 1 kg of gold was equal to a Maruti 800 car and in 2025 it will reach the level of a luxury car like Land Rover.
Hindi translation of Goenka’s post…
- 1990: 1 kg gold = Maruti 800 car
- 2000: 1 kg gold = Maruti Esteem (middle class car).
- 2005: 1 kg gold = Toyota Innova (introduction of family SUV).
- 2010: 1 kg gold = Toyota Fortuner (luxury SUV).
- 2019: 1 kg gold = BMW (premium brand).
- 2025: 1 kg gold = Land Rover
He said, the lesson: keep 1 kg of gold – in 2030 it could be worth a Rolls Royce car and in 2040 a private jet. This post of Goenka has gone viral on social media.
Today gold price increased by Rs 640 to reach ₹ 1,26,792
According to India Bullion and Jewelers Association (IBJA), today the price of 10 grams of 24 carat gold has increased by Rs 640 to reach ₹ 1,26,792. Yesterday it was at Rs 1,26,152.
Three big reasons due to which gold prices rose
- Festive Season Demand: Buying gold on Diwali-Dhanteras is considered auspicious. This has strengthened the buying interest, even if the quantity is less due to high prices.
- Geopolitical Tension: Investors are buying gold due to turmoil in the Middle East and trade war concerns. There is uncertainty about America’s policies.
- Central Banks Purchasing: Big banks around the world want to reduce their dependence on the dollar. Therefore, they are continuously increasing the share of gold in their treasury.
Gold can go up to Rs 1.55 lakh
In one of its recent reports, Goldman Sachs has set a target of $ 5000 per ounce for gold by next year. According to the current exchange rate in rupees, it will be approximately ₹ 1.55 lakh per 10 grams. Whereas brokerage firm PL Capital has given a target of ₹ 1.44 lakh for gold.
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