Gold Rate Forecast – Prediction for Tomorrow, Next 30 Days, Next Months & Years

City Name	Rate on 18th September	Gold Rate Today
Mumbai	Rs 61000	Click Here
Ahmedabad	Rs 61190 (Highest)	Click Here
Delhi	Rs 61140	Click Here
Jaipur	Rs 60990 (Lowest)	Click Here
Kolkata	Rs 61090	Click Here
Bangalore	Rs 61180	Click Here
Hyderabad	Rs 61170	Click Here
Chennai	Rs 61180	Click Here
Kochi	Rs 61185	Click Here

Date	Gold Rate(24 Carat)	Change	Change%	High	Low
25-09-2023	6019	1	0.008%	6033	6005
26-09-2023	6033	14	0.237%	6047	6019
27-09-2023	6035	2	0.037%	6050	6021
28-09-2023	6020	-15	-0.254%	6034	6006
29-09-2023	5993	-27	-0.450%	6008	5978
30-09-2023	6001	8	0.137%	6016	5986
01-10-2023	6013	12	0.200%	6029	5998
02-10-2023	6014	0	0.008%	6029	5998

Gold Price Forecast for Next 6 Months

The below prediction chart shows the gold price prediction for next 6 months from August- 23 to January- 24. In this prediction, you can see a gradual increase in gold rate in coming days, it will increase by 1.234% in next month for 24 carat gold. Average price for 10 gram 24 carat will close to 60540 INR between upcoming months.

Monthly Gold Price Prediction – Gold Rate Prediction for 2024

Gold Rate Forecast from Feb 2024 to June 2024 for 24 carat gold

This gold rate prediction shows future gold rate in upcoming months in next year.

Gold Rate Forecast for 1 Year (2024 -25)

In this chart you can check gold rate forecast for next financial year 2024-25.

The Gold price prediction chart clearly indicates the steady change in the gold rate expectation, that is predicted for the 2023-2024 period.

Current Gold Rate Trend in India – Gold Price Forecast

The current gold trend in the market reflects a blend of cautious optimism and global economic uncertainty. As of now, gold prices have experienced moderate fluctuations(currently decreasing) due to a mix of factors. These include the ongoing geopolitical tensions, inflation concerns, and central bank policies.

While the demand for gold as a safe-haven asset remains steady, the gradual economic recovery and potential interest rate hikes have slightly fluctuated gold rate and future gold rate predictions. Investors are closely monitoring indicators such as employment data, inflation rates, and central bank decisions to gauge the future trajectory of gold rates amidst this intricate market environment.

Factors that influence the Gold Rate Forecast

1. Demand & Supply

In any traded commodity, demand and supply play a prominent role in defining its price. Gold is not a consumable product so all gold is still present on earth that ever mined. Also, every year, the amount of gold mined is not very up. And so, if demand for gold goes up, the price goes up since the supply is comparatively uncommon.

2. Interest Rates

Gold prices have a converse relationship with lowest interest rate. If interest rates fall, individuals don’t get attractive returns on deposits. Hence, they break their deposits and buy gold instead to increase demand and it automatically increases price. And people sell their gold and invest in their deposits when interest rate goes high, it leads to a drop in demand and so the price.

3. Inflation

When the inflation rates soar high, the value of the currency goes down. Also, most other investment avenues flop to deliver inflation-winning returns. Hence, most people start investing in gold. Even if high rates of inflation last for a longer period, gold acts as ideal privet since it is not influenced by fluctuations in the value of the currency.

4. Import Duty

India accounts for less than one percent of gold production globally. However, it is the second largest consumer of yellow metal. India imports large amounts of gold to meet the rising demand. Thus, import duty has important role in the gold price.

5. Government Reserves

The Government of India has several gold reserves. Given its policies, it buys or sells gold through the Reserve Bank of India (RBI). Gold rate can get affected depending on whether it buys or sells more.

Top 3 Reasons behind the increase in gold prices

Below are the reasons behind the increasing price of gold – 

1. High liquidity

The RBI enables borrowers to get a moratorium on loan repayments till August 31, 2020. Government also announced multiple economic inducement packages to fuel liquidity into the markets. So, this led to a situation where investors had money for investment. They can invest in stocks by using the best trading app but the stock market were extremely volatile, interest rates were reducing. Hence, they began investing in gold because it is always a safe investment option.

2. Exchange Rate

The value of Indian Rupee has reduced acutely since the lockdown. At present, it is nearly Rs. 75 against the US dollar. Since India is the second largest importer, such exchange rate variations tend to affect gold rates & gold rate forecast in future.

3. Reduced Gold Mining

One major factor that influences gold rate in upcoming days and gold price prediction is the demand and supply formula. While the demand went up, gold mining activities were immensely impacted due to lockdowns in different parts of the world. This influenced the supply causing the gold prices to increase further.

How can you invest in Digital Gold?

Investors have several options to invest in gold, such as purchasing physical gold, investing in gold ETFs, buying gold mining stocks, or trading options and futures contracts. Physical gold can be bought in the form of bars, coins, or jewellery, but requires storage and insurance costs. Gold ETFs are easier and can be traded on stock exchanges like any other stock.

FAQs About Gold Rate Forecast

Ques- What are the factors that affect gold rates?

Ans- There are lots of factors that are found to make the gold prices fluctuate like liquidity, demand and supply, inflammation, global economy and others.

Ques- Is your gold rate prediction accurate?

Ans- Yes, In most cases this gold rate prediction tries to be as accurate as possible. But the actual gold prices may vary depending on various underlying factors.

Ques- What is the current gold price trend?

Ans- At present, the prices of gold metal are on the upward side. And this gold rate trend is expected to continue for coming months.

Ques- What are the different types of gold investments?

Ans- There are different types of gold investments available today including Digital Gold investment, Gold coin investment, gold bars investments and gold ETF investments.

Ques- Will gold rate decrease in coming days 2023?

Ans- Predicting future gold prices depends on a wide range of factors, including economic conditions, demand & supply and market sentiment, which can change rapidly. These are the reasons exist behind the gold rate fluctuation, As per financial expert’s Gold rate prediction we can say gold rate will decrease slightly in coming days or months because demand and supply of gold has better combination this time.