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Gold may hit $3,500/ounce in next 18 months
The New Indian Express Mysuru
|April 03, 2025
Domestic industry does not see substantial upside as retail demand for yellow metal is waning due to high prices
EVEN as many foreign analysts see gold prices scaling past the $3,500/ounce mark in next 18 months, the domestic industry doesn't see the yellow metal, which has already gained more than 20% so far this year, can scale that height.
Foreign analysts see the metal hitting a peak of $3200-3,300/ounce in the global markets this year. On the Chicago Mercantile Exchange, gold was trading at $3,161, a new peak at 1900 hours on Wednesday, while domestic prices peaked at ₹9,356/gram for 24 carats. The Wednesday's rally was due to 25% reciprocal import duties on all goods reaching the US shores comes into effect on Wednesday.
This story is from the April 03, 2025 edition of The New Indian Express Mysuru.
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