New Delhi, Jan 1: Gold, a safe-haven bet, is likely to continue its record-smashing journey in the New Year, rising to Rs 85,000 per 10 grams and even Rs 90,000 level in domestic markets if geopolitical tensions and global economic uncertainties continue.Also aiding the run is a dovish tilt in monetary policy and buying by central banks, but if the geopolitical crisis eases, the precious metal will turn weak on depreciating rupee.
Gold price is hovering at Rs 79,350 per 10 grams in spot markets at present, and Rs 76,600 per 10 grams in futures trade on the Multi Commodity Exchange (MCX).
The precious metal capped off 2024 on a strong note with its best performance, notching 23 per cent returns in the domestic markets. The yellow metal hit an all-time high of Rs 82,400 per 10 grams on October 30 this year. Silver mirrored this stellar performance with a 30 per cent gain, surpassing the Rs 1 lakh level per kg level.