# Gold seen at Rs 15 lakh per 10 grams as billionaire calls tenfold rise inevitable, technical target at Rs 1.70 lakh 2026-08-26T19:51:17+00:00 | Business & Economy | Indian Opinion Desk Corroboration: 1 independent outlet (2 source reports) Billionaire investor Thomas Kaplan has predicted gold could rise tenfold from current levels to $50,000 per ounce, calling the increase 'inevitable'. Kaplan, chairman of Electrum Group, told Kitco News he sees gold hitting $30,000 to $50,000 per ounce 'without a problem'. At an exchange rate of Rs 95 per dollar, $50,000 per ounce translates to roughly Rs 15 lakh per 10 grams. Separately, Nuvama Professional Clients Group's Abhilash Koikkara has set a near-term target of Rs 1.70 lakh per 10 grams on MCX, with support at Rs 1.56 lakh. Kaplan described the current gold price correction as a '1987 moment', comparing it to a crash that proved to be a buying opportunity on a long-term chart. He did not specify a timeline for the forecast and said of the current pullback: 'Maybe it already is, maybe it needs to test again, I don't know.' The key support level to watch on MCX gold is Rs 1.56 lakh per 10 grams. ## Indian Opinion Analysis The Times of India ran two versions of the gold story side by side: one quoting billionaire Thomas Kaplan's tenfold-in-$50,000-per-ounce call, the other quoting Nuvama's technical analyst targeting Rs 1.70 lakh per 10 grams. The former is long-term speculative, the latter near-term tactical. A balanced reader would note that the Kaplan version (Source 1) frames the current dip as a '1987 moment' buying opportunity, projecting an inevitable multi-decade bull run, while the second version (Source 2) sticks to immediate support and resistance levels from base trends, without endorsing a hyperbolic target. The key figure to watch now is the Rs 156,000 support level per 10 grams on MCX, as it holds the bullish setup. ## Coverage Coverage: 2 sources, 1 neutral, 1 sensationalist - timesofindia.indiatimes.com (sensationalist) Leads with billionaire's $50,000 per ounce prediction, frames pullback as a '1987 moment' buying opportunity, long-term bullish slant - timesofindia.indiatimes.com (2) (neutral report) Reports Mcx technical levels with analyst's near-term price target, neutral commodity forecast This brief was synthesised by AI from the 2 sources linked above, so one read covers every framing they carry. Updated: this story now draws on 2 sources. Last updated 2026-08-27T07:29:11+00:00. Tags: Electrum Group, gold, Thomas Kaplan, World Gold Council Canonical: https://indianopinion.org/gold-may-hit-rs-15-lakh-per-10-grams-billionaire-kaplan/ License: Summary and commentary (c) Indian Opinion, reusable with attribution. Facts belong to the linked sources. Cite: https://indianopinion.org/gold-may-hit-rs-15-lakh-per-10-grams-billionaire-kaplan/#story-in-brief How this brief was made: an AI model read the reports linked above and wrote this summary and analysis, which were published automatically. Published briefs are sampled every hour by an automated quality check; the editor verifies its findings and approves corrections, and corrected briefs carry a dated correction line. Stance labels are editorial classifications of how each outlet framed this story, assigned by the same model, not ratings of the outlets. We do no original reporting. Methodology: https://indianopinion.org/ai-use-policy/