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Updated March 29th 2025, 17:36 IST
Gold At All Time High: When Will It Touch Rs 2 Lakh At Current Rate?
Assuming that the yellow metal has a growth rate of 11.2%, the time it will take for gold to reach Rs 2 lakh can be estimated.
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Gold prices have been displaying an upward trend and have soared to a record high of Rs 90,000 on Friday, backed by strong demand and favorable global trends. Investors are now keen to know when gold will breach the Rs 2 lakh mark.
What Is The Estimated Time For The Investment
Assuming that the yellow metal has a growth rate of 11.2%, the time it will take for gold to reach Rs 2 lakh can be estimated. Using the Rule of 72, which is a formula used for estimating the doubling time of an investment, the time frame for the same can be calculated.
Dividing 72 by the growth rate of 11.2% gives an approximate time frame of 6.43 years for gold to double and reach Rs 1.8 lakh. So the safe-haven asset will touch Rs 1.8 lakh by 2031 and Rs 2 lakh by 2033.
Why Are Gold Prices Rising?
According to an ICICI Bank Global markets report, gold prices could in all likelihood touch Rs 87,000 to Rs 90,000 per 10 grams in the first half of 2025, given the current environment of geopolitical uncertainties and US tariff policies.
According to the report, moving forward, "local gold prices are expected to trade with an upside bias in the Rs 87,000 per ten grams to Rs 90,000 per ten grams range in 1H2025 and moving to the Rs 94,000 per ten grams range in 2H2025," the report said.
Published March 29th 2025, 15:54 IST