Gold Prices Surge This Expert Thinks Rates May Rise Up To 1 68 Lakh

Updated on: December 23, 2025 / 7:51 AM EST / CBS News Gold prices soared above $4,400 on Monday to reach a new all-time high, as analysts pointed to rising geopolitical tensions and softer monetary policy as key drivers of the surge. The price of the precious metal traded at $4,475 per ounce at 4 p.m. EDT after hitting a high of $4,477 per ounce earlier in the day. The asset has risen more than 70% since the start of this year. Gold is viewed as a safe-haven investment and typically acts as a hedge against inflation.

"The metals trade has been strong all year, and particularly for gold," Bret Kenwell, a U.S. investment and options analyst at eToro, told CBS News. "As its fundamentals remain intact, gold digested its recent rally to all-time highs quite well." Silver prices were also rallying on Monday, reaching $69 by 4 p.m. EDT. The metal is up 130% since the start of the year.

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A mix of geopolitical uncertainty, tariff shocks from the U.S., central bank buying, and expectations of interest rate cuts is fueling this rally. But the question dominating the minds of investors and jewellers alike is: Will gold touch Rs 1 lakh per 10 grams in 2025? According to Ryan McIntyre, senior portfolio manager at Sprott Asset Management, central bank purchases and global economic jitters — particularly U.S. President Donald Trump’s aggressive tariff plans — are providing strong upward momentum to gold. The surge is visible across all categories in India: 24-karat gold: Rs 93,390 per 10 grams 22-karat gold: Rs 85,610 per 10 grams 18-karat gold: Rs 70,050 per 10 grams

Globally, spot gold prices have crossed $3,200 per ounce for the first time, with U.S. gold futures even higher at $3,237.50 per ounce. While stock markets are soaring as optimistic investors pour money into artificial intelligence companies, so is the price of gold. It breached $4,000 an ounce for the first time in early October, and some analysts predict it could hit $5,000 next year, almost double the price since this past January. That doesn’t seem like a good sign for the optimists. Gold, a safe-haven asset that holds its value, traditionally thrives when pessimism and uncertainty are on the rise.

Given a slowing but still-growing economy, gold may be flashing a warning signal. Market changes and a shifting world order in the last 20 years have chipped away at the dollar’s credibility. That’s seen as one reason gold is gaining new ground. But a weaker dollar has other consequences as well. Many analysts point to rising doubts about the resilience of the U.S. economy, the dollar’s value when federal debt and deficits are so high, and the independence of America’s central bank.

Add in the threat of rising tariffs, which raise inflation and reduce growth, and the intensifying trade war with China among other geopolitical risks, and the future looks iffy at best. When things look this uncertain, people and organizations tend to buy gold to protect themselves from a fall in financial markets, which hasn’t happened, and inflation, which is starting to tick up. With global uncertainties continuing to mount, causing central banks across the world to increase their gold reserves, the price of the yellow metal has soared to unprecedented heights over the last few months. Gold prices in India have surged to more than Rs 87,000 for 24 Karat, with experts and banks predicting the yellow metal to rise even further this year. The increase is primarily driven by a weak US dollar and strong local demand. Recent economic data in the US points to a significant increase in the producer price index for January, following a report of the fastest consumer price rise in nearly 18 months.

These signals point to a quickening pace of inflation, reinforcing the belief that the Federal Reserve will maintain current interest rates until the latter half of the year. Historically, investors have turned to gold as a safe haven against inflation and economic uncertainty. However, the rise in interest rates can diminish its attractiveness as a non-yielding asset. As per Goldman Sachs, the increased forecast is underpinned by higher-than-expected demand for gold from central banks, which have been increasing their reserves since the freezing of Russian central bank assets in 2022, following... Picture this: You’re scrolling through the news one morning, sipping your chai, and bam – another headline about gold prices hitting a new high. It’s been quite the ride lately, hasn’t it?

As of mid-December 2025, 24-karat gold is hovering around Rs 1,34,000 to Rs 1,35,000 per 10 grams in major Indian cities. That’s a far cry from just a few years ago when it was under Rs 50,000. With weddings around the corner and festivals lighting up the calendar, everyone’s asking the same burning question: Can gold prices cross Rs 2,00,000 per 10gm in 2026? It’s a bold thought, right? Gold has always been more than just a shiny metal in India – it’s family heirlooms, wedding dreams, and a safety net during tough times. But crossing that Rs 2 lakh mark?

That would be historic. In this article, we’ll break it down step by step, looking at where we’ve been, what’s happening now, and what experts are saying about the future. We’ll keep it real, no hype, just straightforward insights to help you make sense of it all. Gold prices don’t just jump overnight; they’ve been climbing steadily, with some dramatic leaps along the way. Let’s take a quick stroll down memory lane to see how we got here. Back in 2020, amid the chaos of the pandemic, the average gold price in India shot up to around Rs 48,651 per 10 grams.

Uncertainty was everywhere, and people flocked to gold as a safe haven. Fast forward to 2021-2022, things cooled a bit as economies reopened, but then geopolitical tensions – think Russia-Ukraine – kicked in, pushing prices higher again. By 2023 and 2024, inflation worries and a fluctuating rupee kept the momentum going. And 2025? Wow, what a year! Gold price has smashed records repeatedly, driven by global uncertainties, central bank buying sprees, and investor frenzy.

We’ve seen it surge past Rs 1,30,000, with peaks touching close to Rs 1,35,000 per 10 grams. That’s over a 60% jump in some global measures this year alone. The safe-haven asset has soared more than 50% this year. Gold prices have soared more than 50% so far this year, delivering mammoth returns for traders holding the safe haven investment. But the run-up in the value of gold could portend a downturn for the U.S. economy, some analysts told ABC News.

The spike in gold prices has proven especially pronounced in recent weeks, climbing nearly 20% since mid-August and far outpacing the U.S. stock market. That period has coincided with data releases indicating a sharp labor market slowdown, which some observers consider a harbinger of a possible recession. In recent days, a government shutdown has added to the nation's economic risk and halted key data releases that could otherwise reassure onlookers. Gold offers investors a hedge against an uneasy financial environment as policymakers weather the uncertain environment, analysts said. Stress in long-term bond markets and a devaluation of the U.S.

dollar have unsettled alternative assets typically viewed as low-risk investments, they added.

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