Goldman Sachs mentions the increase in gold and silver prices. We all know that the silver and gold prices are increasing rapidly. The demand for a saver investment is seeing a craze again. Amid the ongoing Middle East tensions, the prices are seeing a sudden spike. As its value is increasing, the market is shifting towards these commodities for further investment. Let us explore more about the reason behind the increasing gold and silver prices below.
Why Goldman Sachs Forecasts Increase In The Gold And Silver Price? Why Gold Price Rising?
As per Goldman Sachs’s Gold price forecast, the price of gold will rise further to $2,700 per ounce. People are preferring to buy gold as an investment. The reason behind the gold and silver prices increase is the ongoing war between Iran and Israel. There are chances that Iran might attack Israel soon. The war led to crises in the area. This is increasing the demand for silver and gold in the market.
The war situation is increasing the price to unlimited heights. Thus, there is a need to maintain peace as much as possible. Trying to solve the conflict peacefully will reduce the panic and crises in the area. Thus, it can help to at least stabilize the gold prices. The prices are fluctuating. However, no one can confirm or tell the exact price hike in these commodities.
The current price today is Rs. 74,715 for 10 grams. Apart from that, the silver price is Rs. 85,051 per kg. Different experts are providing different advice to the customers. Thus, as per the HDFC bank, the gold price can pass the $2500 mark. Apart from that, Goldman Sachs says that the price will reach $2700 per ounce. Gold and silver are precious metals because it takes a lot of effort to dig out the gold from the mines.
The more complicated the process, the more value it will have. The Iran-Israel war is becoming more and more intense with time. Apart from that, Ukraine’s interference and the Russian war also had an impact. Along with it, the post-COVID inflation took it all. To conclude, the prices of gold and silver are rising constantly.
If everything keeps on going at the same pace, Gold has a high chance of reaching close to the Rs. 1 lakh mark in a year. It is important to manage such issues. We hope you get enough details about the Gold and Silver prices above. Stay tuned for more information on our website.