Within a few years, price of one sovereign of gold will rise as high as Rs 1,34,000

MUMBAI: Gold is becoming more and more expensive every day. Even individuals with respectable salaries are finding it extremely difficult to buy gold. Purchasing gold is becoming nearly impossible since the labour charges and GST make the final price higher than the market value. The price of gold has risen by Rs 5600 per sovereign just in the month of April.

Experts predict that the price of gold will continue to rise in the upcoming days due to the ongoing Israel-Iran conflict. According to the most recent reports, the price of one sovereign of gold might cross one lakh rupees in the near future. According to a report by CNBC Awaaz, Mahendra Luniya of Vighnaharta Gold said that gold prices will rise to Rs 1,68,000 per 10 grams by 2030.

He claimed that the switching of those investing in diamonds to gold and the decline in the value of the dollar are the reasons behind the sharp increase in the price of gold. In such a situation, it will not be easy for common people to buy gold by 2030.