Gold Rate Forecast: Prediction for Tomorrow, Next 30 Days, Next Months & Years

Gold price has shot up from Rs. 90 per gram in 1979 to Rs. 6100 per gram in 2023. When you crunch the numbers, the returns are truly remarkable.

Rs. 6100 – Rs. 90 = Rs. 6010

Rs. 6010 / 90 x 100 = 6,678% returns over the 45 years of investment.

In addition to this impressive historical data, I will provide you with the Gold Rate Prediction or Gold Price Forecast for today, tomorrow, and the next 30 days. Additionally, I’ll share predictions for the current financial year (2023-24) and the next financial year (2024-25) for both 22 Carat and 24 Carat Gold segments. 

Factors Considered in Gold Price Prediction

Before I present the forecasts, let’s understand the key factors considered of Gold Price Prediction –

• INR vs.US Dollar Value
• Re-emergence of Covid
• Russia-Ukraine War
• India-China Tension
• US-China Tension
• China-Taiwan Conflict
• Demand & Supply of Gold
• Inflation/ Printing of Money
• RBI Rate Change

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Gold Rate Forecast for Today – September 29, 2023

According to our predictions, the gold rate for 24 Carat Gold is expected to be Rs. 5940 per gram, while for 22 Carat Gold, it is expected to be Rs. 5445 per gram.

Gold Rate Forecast for Today – 24 Carat
Date	Gold Rate(1 gram)	Change	Change%	Highest	Lowest
29 September 2023	5940	-28	-0.47%	5966	5917

As per the forecast, Gold Rate is showing a negative movement of -0.47% for the 24-carat segment.

This means that the price for both segments is expected to decrease by Rs. 28 per gram. So, if you’ve been considering purchasing gold today, keep these predictions in mind.

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Gold Rate Prediction for Tomorrow – September 30, 2023

The gold rate forecast for tomorrow, September 30, 2023, indicates that the price for 22 Carat Gold is predicted to be Rs. 5474 per gram; for 24 Carat Gold, it is expected to be Rs. 5972 per gram.

Gold Rate Forecast for Tomorrow – 24 Carat
Date	Gold Rate(1 gram)	Change	Change%	Highest	Lowest
30 September 2023	5972	32	0.54%	5991	5951

The expected change is quite high, at 0.54% for 24 Carat Gold. While the prices are slightly higher compared to today, it’s essential to keep in mind that gold prices can be influenced by various factors and may fluctuate.

Gold Rate Forecast for the Next 30 Days – 24 Carat Gold

Now, let’s take a peek into the future with the gold price forecast for the next 30 days, specifically for 24 Carat Gold. 

Date	Gold Rate (1 Gram)	Change	Change%	Highest	Lowest
29-09-2023	5940	-28	-0.47%	5966	5917
30-09-2023	5972	32	0.54%	5991	5951
01-10-2023	5974	2	0.03%	5996	5955
02-10-2023	5989	15	0.25%	6009	5970
03-10-2023	5982	-7	-0.12%	6004	5959
04-10-2023	6001	19	0.32%	6026	5975
05-10-2023	6015	14	0.23%	6037	5992
06-10-2023	6009	-6	-0.10%	6033	5989
07-10-2023	5993	-16	-0.27%	6020	5968
08-10-2023	5995	2	0.03%	6018	5972
09-10-2023	6010	15	0.25%	6030	5989
10-10-2023	6019	9	0.15%	6040	5997
11-10-2023	6015	-4	-0.07%	6037	5992
12-10-2023	5999	-16	-0.27%	6022	5978
13-10-2023	5991	-8	-0.13%	6017	5964
14-10-2023	5993	2	0.03%	6016	5973
15-10-2023	5986	-7	-0.12%	6006	5965
16-10-2023	5998	12	0.20%	6022	5975
17-10-2023	6015	17	0.28%	6040	5992
18-10-2023	6019	4	0.07%	6041	5995
19-10-2023	6009	-10	-0.17%	6036	5983
20-10-2023	6027	18	0.30%	6050	6004
21-10-2023	6035	8	0.13%	6060	6012
22-10-2023	6033	-2	-0.03%	6055	6012
23-10-2023	6041	8	0.13%	6061	6018
24-10-2023	6045	4	0.07%	6070	6020
25-10-2023	6039	-6	-0.10%	6063	6016
26-10-2023	6022	-17	-0.28%	6042	6001
27-10-2023	6029	7	0.12%	6052	6005

As you can see, the gold price is expected to fluctuate over the next 30 days, with incremental changes in price. This forecast will give you a general idea of how the gold rate might behave during this period.

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Gold Price Forecast For 1 Month – 22 Carat Gold

You can check the Gold Rate Prediction for today, tomorrow and next 30 days for 22 carat pure gold –

Date	Gold Rate (1 Gram)	Change	Change%	Highest	Lowest
29-09-2023	5445	-26	-0.47%	5,471	5422
30-09-2023	5474	29	0.54%	5493	5453
01-10-2023	5476	2	0.03%	5498	5457
02-10-2023	5490	14	0.25%	5510	5471
03-10-2023	5484	-6	-0.12%	5506	5461
04-10-2023	5501	17	0.32%	5526	5475
05-10-2023	5514	13	0.23%	5536	5491
06-10-2023	5508	-6	-0.10%	5532	5488
07-10-2023	5494	-15	-0.27%	5521	5469
08-10-2023	5495	2	0.03%	5518	5472
09-10-2023	5509	14	0.25%	5529	5488
10-10-2023	5517	8	0.15%	5538	5495
11-10-2023	5514	-4	-0.07%	5536	5491
12-10-2023	5499	-15	-0.27%	5522	5478
13-10-2023	5492	-7	-0.13%	5518	5465
14-10-2023	5494	2	0.03%	5517	5474
15-10-2023	5487	-6	-0.12%	5507	5466
16-10-2023	5498	11	0.20%	5522	5475
17-10-2023	5514	16	0.28%	5539	5491
18-10-2023	5517	4	0.07%	5539	5493
19-10-2023	5508	-9	-0.17%	5535	5482
20-10-2023	5525	17	0.30%	5548	5502
21-10-2023	5532	7	0.13%	5557	5509
22-10-2023	5530	-2	-0.03%	5552	5509
23-10-2023	5538	7	0.13%	5558	5515
24-10-2023	5541	4	0.07%	5566	5516
25-10-2023	5536	-6	-0.10%	5560	5513
26-10-2023	5520	-16	-0.28%	5540	5499
27-10-2023	5527	6	0.12%	5550	5503

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Gold Rate Forecast for Major Indian Cities – September 29, 2023

You can check the gold price prediction of various cities in India, along with the highest and lowest prices of 10 grams of 24-carat gold.

Cities	24 Carat (Rs.) (10 Grams)
Ahmedabad	59,615
Amritsar	59,650
Bangalore	59,680
Chennai	59,660
Coimbatore	59,710 (Highest)
Delhi	59,635
Faridabad	59,510
Gurugram	59,460 (Lowest)
Hyderabad	59,595
Jaipur	59,490
Kanpur	59,605
Kochi	59,665
Kolkata	59,600
Lucknow	59,615
Madurai	59,710
Meerut	59,590
Mumbai	59,510
Visakhapatnam	59,690

Gold Price Forecast for Next 6 Month – 24 Carat Gold

Gold Rate Prediction – 24 Carat Gold – 10 Gram Gold (INR)
Month	Average(10 gm gold)	Lowest	Change% (compare to last month)
Sep-23	59510	59460	-2.781%
Oct-23	60590	60290	1.782%
Nov-23	61820	61510	1.990%
Dec-23	62920	62430	1.748%
Jan-24	63120	62940	0.317%
Feb-24	64230	63020	1.728%

Gold Price Prediction for 1 Year – 24 Carat Gold

Here is the gold price prediction of the financial year 2023-2024 for 24 carat gold.

Gold Rate Prediction – 24 Carat Gold – 10 Gram Gold (INR)
Month	Average(10 gm gold)	Lowest	Change% (compare to last month)
Mar-24	65390	64270	1.774%
Apr-24	66230	65170	1.268%
May-24	67470	66310	1.838%
Jun-24	68320	67230	1.244%
Jul-24	69120	68440	1.157%
Aug-24	70840	69580	1.454%

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Gold Price Forecast for Next 6 Month – 22 Carat Gold

You can check the gold price prediction from Aug 2023 to Feb 2024 for 22 carat gold

Gold Rate Prediction – 22 Carat Gold – 10 Gram Gold (INR)
Month	Average (10 gm gold)	Lowest	Change% (compare to last month)
Sep-23	54505	54205	-2.778%
Oct-23	55541	55266	1.865%
Nov-23	56668	56384	1.989%
Dec-23	57677	57228	1.749%
Jan-24	57860	57695	0.316%
Feb-24	58878	57768	1.729%

Gold Price Prediction for 2023-2024 – 22 Carat Gold

Gold Rate Prediction – 22 Carat Gold – 10 Gram Gold (INR)
Month	Average (10 gm gold)	Lowest	Change% (compare to last month)
Mar-24	59941	58914	1.773%
Apr-24	60711	59739	1.268%
May-24	61848	60784	1.838%
Jun-24	62627	61628	1.244%
Jul-24	63360	62737	1.157%
Aug-24	64937	63782	2.429%

Factors Influencing Gold Prices in India

#1. Geopolitical Events

Gold is a global commodity, and its price is influenced by international events such as geopolitical tensions, wars, and economic indicators. For example, the ongoing Russia-Ukraine war, China-Taiwan conflict, India-China tension, and US-China tension can all impact gold prices.

#2. Demand and Supply

Fluctuations in gold prices in India are influenced by global demand and supply dynamics. Increased demand and limited supply lead to price rises, while low demand and abundant supply result in price declines.

#3. Inflation

Gold is often sought as a hedge against inflation. During times of rising inflation, investors turn to gold as a store of value, driving up its price in India and globally.

#4. Import Duty

The import duty imposed by the Indian government on gold imports impacts the local price of gold. Higher import duties lead to higher gold prices for Indian consumers.

#5. Currency Fluctuations

Exchange rate fluctuations between the Indian rupee and the US Dollar affect the cost of gold imports. A weaker rupee increases the cost of importing gold, leading to higher gold prices in India.

#6. Government Reserves

The actions of the central bank, RBI, in buying or selling gold from its reserves affect the overall supply and demand dynamics, which can influence gold prices in the long term.

#7. Interest Rates

Changes in interest rates set by the central bank can influence investors’ decisions between holding gold and investing in other financial instruments, affecting gold prices.

When interest rates rise, investors may shift from gold to other investment options, leading to a decline in gold prices.

#8. Monsoon and Indian Weddings

The monsoon season affects rural incomes, leading to changes in gold demand. This means agricultural prosperity leads to higher disposable income, increasing the demand for gold and its price.

Additionally, Gold is an integral part of Indian weddings and festivals. During the wedding season and festive periods, the demand for gold rises, impacting its price.

#9. Uncertain Market Conditions and Stock Market Crash

Uncertainty in the market, such as during the COVID-19 pandemic, can boost gold demand as investors seek safe-haven assets. Also, during stock market crashes, gold prices tend to rise as investors flock to this safe asset.

How to Invest in Gold

You can invest in gold through various methods, each with its own advantages and considerations. Here are some common ways to invest in gold:

#1. Physical Gold

You can buy physical gold in the form of gold coins, bars, or jewelry from authorized dealers or reputable sources.

#2. Gold ETFs (Exchange-Traded Funds)

Gold ETFs are funds that track the price of gold and are traded on stock exchanges. They offer the convenience of trading like stocks while representing ownership of physical gold.

#3. Gold Mutual Funds

Gold mutual funds invest in shares of gold mining companies or other gold-related investments.

#4. Gold Futures and Options

Experienced investors can trade gold futures contracts on commodity exchanges, which involve buying or selling gold at a predetermined price on a future date.

#5. Gold Sovereign Bonds

Governments issue sovereign gold bonds, which are government securities denominated in grams of gold.

#6. Gold Mining Stocks

Investing in shares of gold mining companies allows you to gain exposure to gold prices and potential growth in the mining industry.

Before investing in gold, it’s essential to research the market, understand the risks involved, and consider your investment goals and time horizon. Diversification of investments is also recommended to manage risk effectively. You can also diversify your investment portfolio with small amount of 15 lakhs to earn monthly income with low risk and high risk investment plans.

FAQs Regarding Gold Rate Forecast