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Gold prices expected to reach Rs. 55,000 this year, say experts

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According to Business Today, the yellow metal’s price might reach Rs 55,000 this year and Rs 62,000 the next year.
According to Kunal Shah, head of commodities analysis at Nirmal Bang, two factors will weigh on gold prices in the future: the geopolitical event and the economic slowdown coupled with increasing inflation.
Given the current circumstances, central banks may procrastinate hiking interest rates, which might result in a new round of global inflation, according to Shah, who also predicted that gold prices would rise to Rs 54,000-Rs 55,000 in 2022 and Rs 60,000-Rs 62,000 in 2023.

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