Gold Prices to Soar? JP Morgan Predicts 32% Rise, Rs 2 Lakh per 10 Grams

• Gold prices saw a significant drop of Rs. 22,800 per tola in 4 days due to profit booking before the budget, with investors cashing in on ETFs.
• Despite the recent crash, gold and silver prices are rising again, influenced by the India-US trade deal and stock market gains.
• JP Morgan forecasts gold prices could reach $6,300 per ounce by year-end, a 32% increase, potentially pushing 10 grams to Rs. 2 lakhs in India.
• The predicted surge is attributed to central banks increasing gold reserves and rising investor demand, with central banks possibly buying 800 tons by 2026.
• JP Morgan advises caution on silver, noting its volatile price movements and lack of strong central bank interest compared to gold, despite potential for some momentum.

Why It Matters: JP Morgan predicts a significant 32% rise in gold prices this year, driven by central bank purchases and investor demand.