Gold is likely to touch the mark of Rs 64,000 this year: Ajay Kedia

New Delhi: Tremendous increase has been witnessed in the prices of gold and silver this week. According to the India Bullion and Jewellers Association (IBJA) website, at the beginning of this week i.e. on April 10, gold was at Rs 60,068 in the bullion market, which has now reached Rs 60,880 per 10 grams on April 15. That is, this week its price has increased by 812 rupees.

Gold price by Carat

Carat       Price (Rs./10 Grams)
24            Rs 60,880
23            Rs 60,636
22            Rs 55,766
18            Rs 45,660

According to the IBJA website, this week silver has seen an increase of more than Rs 2,000. It was at Rs 73,856 at the beginning of this week, which has now reached Rs 75,869 per kg. This week its price has increased by Rs 2,013.

According to Ajay Kedia, director of Kedia Advisory, the super cycle that began in gold in 2020 is still ongoing. Gold was expected to touch Rs 62,000 this year, but in current conditions it is likely to touch the mark of Rs 64,000.

IIFL Securities Vice President Anuj Gupta said that gold is surging due to the ongoing ups and downs in the stock market. Due to this, gold can go up to Rs 65,000 per 10 grams by the end of this year. Ajay Kedia, estimates that silver may go up to Rs 90,000 per kg this year. Silver prices are also rising due to increased industrial demand and higher gold prices. The introduction of silver ETFs also has the effect of hiking the options for investing in silver.