Gold Prices Rebound Sharply; Is ₹3 Lakh Gold and ₹6 Lakh Silver on the Horizon?

Gold and silver prices have once again picked up momentum ahead of the festive season. Both precious metals witnessed a sharp rebound on Monday, August 17, with prices rising in both international and domestic markets. The latest surge has also renewed speculation about how high gold and silver prices could go in the coming years. Gold and Silver Prices Rise

In the international market, COMEX gold gained around $15 on August 17 to reach $4,391.32 per ounce. Silver also remained strong, rising nearly 0.94% to $65.720 per ounce.

On the domestic futures market, MCX gold was trading at around ₹1,55,961 per 10 grams, up 0.29%. MCX silver also climbed, trading near ₹2.37 lakh per kilogram.

According to the latest rate list from the India Bullion and Jewellers Association (IBJA), domestic bullion prices on Monday were:

24-carat gold: ₹1,52,360 per 10 grams

22-carat gold: ₹1,39,570 per 10 grams

18-carat gold: ₹1,14,270 per 10 grams

Silver: ₹2,33,842 per kilogram

Could Gold Touch ₹3 Lakh?

The latest rally has once again brought long-term gold price forecasts into focus. Prominent investor Robert Kiyosaki has repeatedly warned that gold and silver could rise substantially amid inflation, currency concerns and global economic uncertainty.

However, targets such as ₹3 lakh for gold or ₹6 lakh for silver are forecasts, not guaranteed price levels. Actual prices will depend on global interest rates, the US dollar, inflation, geopolitical developments, central-bank buying and domestic demand.

For investors, the latest rally highlights one thing clearly: precious metals remain firmly in the spotlight as the festive season approaches.

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