- What is the rate of gold and silver on 27th August?
- Increase in the price of gold and silver in the market
- Rising debt, inflation and the dollar in the US could further increase demand for gold
Gold Silver Price Today: The price of gold has increased once again. Today, on August 27, gold rose by Rs 637 to Rs 1,60,300 on MCX. Silver also rose by Rs 1,668 to Rs 2,41,306 per kg. The prices of both these precious metals are increasing in the international market as well. Gold rose 0.71 percent to $4,686 an ounce, while silver rose 1.67 percent to $69 an ounce.
In the previous session in the price of gold It was down more than 1 percent, but is now showing a rebound. The market is keeping a close watch on the statement of the chairman of the US Federal Reserve, Kevin Warsh. Apart from this, cues regarding inflation and interest rates in the US are also considered important for gold's future movements.
What is the reason for the rise in gold prices?
Against expectations, the US annual inflation rate held steady in July. It has remained above the US Federal Reserve's 2% target for the 65th consecutive month. Investors are keeping a close eye on the market's future interest rate decisions.
Moreover, with global economic uncertainty on the rise, investors are looking at gold as a safe investment. This is what increases the demand for gold in uncertain conditions, which supports its price. Investors are also keeping a close eye on developments in the Strait of Hormuz.
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According to experts, gold prices are likely to reach $5,000
Although gold prices have fallen recently, some market analysts expect further gains. According to some experts, the price of gold may cross $5,000 per ounce this year.
Gold prices rose significantly last year, registering a gain of more than 75%, the biggest rally since 1979. The price of gold has been slowly increasing since last few months.
Silver also gave good returns
Silver prices have increased more than gold. Strong demand and currency fluctuations have affected silver prices. Silver prices were around Rs 78,600 per kg in 2023-24, which rose to over Rs 240,000 per kg in August 2026.
Currently, the price of silver is Rs 241,306 per kg, which means that its price has increased significantly in a short period of time. The price of silver in the international market is around 69 dollars per ounce.
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Can gold price reach $50,000?
According to Times of India, Electrum chairman and billionaire Thomas Kaplan has made a bold prediction about gold. According to him, the price of gold can increase several times from the current level.
In an interview with Kitco News, Kaplan said gold prices could reach $30,000, $40,000 or even $50,000 an ounce. If the average price of 1 dollar is considered to be 95 rupees, then 50,000 dollars per ounce translates to approximately 15 lakh rupees per 10 grams. However, this is a Kaplan estimate.
One of the main reasons for the rise in gold prices is the rising US debt and budget deficit. US government debt has exceeded 40 trillion rupees. Investors are looking at gold as a safe investment due to fears of rising inflation and a weakening dollar. Therefore, Fed decisions, global factors and economic data can determine gold's future movements.