Gold Prices Could Rise by 15% by December, Says World Gold Council

The World Gold Council has projected that global gold prices could increase by up to 15% by the end of December due to a combination of economic uncertainty, geopolitical tensions, and strong investment demand. According to the council’s latest forecast, gold could reach $3,839 per ounce by year-end, compared to its current levels.

 

The report attributes the expected rise to slowing global economic growth, high interest rates, and persistent inflationary pressures, which are driving investors toward safe-haven assets like gold. It also notes that central bank purchases of gold remain strong, adding upward pressure on prices.

 

Looking further ahead, the council expects prices to stabilize in the $3,700–$3,750 range in early 2025, assuming no major economic shocks occur. However, it cautions that unexpected geopolitical or financial crises could push prices even higher.

 

In domestic markets, gold prices fell by ₹200 on the day of the report, with 10 grams of gold trading at ₹98,670. Silver prices also saw a decline, slipping to ₹1,05,100 per kilogram. Analysts suggest that these short-term dips are driven by fluctuations in the stock market and temporary shifts in demand but are unlikely to affect the longer-term upward trend.

 

Market experts believe that continued global uncertainty, coupled with seasonal demand during the festive period, will support a 10–15% rise in gold prices by the end of the year.