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    10 Gold Price Predictions in India

    Abstract:The World Gold Council announced that Gold demand in Q3 has fallen to a 11 year low and year to date demand is now 10% lower than 2019. New Data suggests that more and more Indians are purchasing Investment Gold rather than Jewellery.

      1. Goldman Sachs is predicting about Rs 61000 by end of 2021

      2. The maker of a new cryptocurrency backed by Gold (Digix) says Gold is likely to remain between $ 2000 and $ 2100 in the next few months (Between Rs 51734 and Rs 54320). ANZ Bank has put out forecasts as follows (assuming current INR USD exchange rate) - Rs 56907 by December 2020, Rs 59494 by March 2021 and Rs 49147 by end of 2021. Updated ANZ Forecasts claim Gold will soar to $ 2300 early next year (Rs 59965 per 10gms)

      3. Kishore Narne, associate director, Motilal Oswal Financial Services predicted a price of Rs 65000 per 10 gm by end of the current year

      4. The Economy Forecast Agency. forecasts Rs 66600 by end of 2021

      5. Bank of America : $ 3000 per ounce by End of 2021, Rs 79138 per 10gm at current exchange rate

      6. ABN Amro Bank: $ 2000 per ounce by End of 2021, Rs 52755 per 10gm at current exchange rate

      7. Citibank has upped its Gold predictions to Rs 58847 per 10 gm by end of 2021 at current exchange rate (September 23rd)

      8. Wallet Investor has predicted a price of Rs 56167 in one year (6th October)

      9. Navneet Damani also of Motilal Oswal “One can look to buy gold on dips towards Rs.47500-48000 with upside targets towards Rs.65000-67000 over the next 18 months”. Motilal Oswal has a forecast of Rs 67000 in the next 12 months (October 27th, 2020)

      10. Anuj Gupta, Deputy Vice President — Commodities & Currency research at Angel Broking, target of Rs 55,000 per 10 gm in 3 months (Comment dated 17th september 2020).

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