In Hyderabad, gold and silver prices have significantly dropped once again. On Wednesday, the price of 24-carat gold per 10 grams fell by ₹3,110, bringing it down to ₹1,64,510. Meanwhile, the price of 22-carat gold per 10 grams decreased by ₹2,850, settling at ₹1,50,800. The price of silver per kilogram fell by ₹20,000, standing at ₹2,95,000.
Experts predict that gold prices could rise sharply due to ongoing conflicts. The military tensions in West Asia resulting from the conflict between the USA and Iran could lead to a surge in gold prices. With the US President Trump announcing that the conflict could continue for several weeks, investors might redirect their investments toward precious metals like gold and silver. If the tensions in West Asia persist, experts forecast that the price of gold could reach up to $6,000 per ounce, with the price per tola possibly surpassing ₹2 lakhs and reaching ₹3 lakhs.
Market expert Chris Wood suggests that war, global geopolitical tensions, central banks purchasing large amounts of gold, uncertainties over interest rates, oil market crises, stock market declines, and weakening trust in the dollar could increase interest in alternative safe investments. He estimates that in the international market, the price of gold per ounce could surpass $6,000 and might even reach $10,000. If this happens, gold prices could reach around ₹3 lakhs per tola in the next five to six years.
