Now Reading: Gold seen at Rs 15 lakh per 10 grams as billionaire calls tenfold rise inevitable, technical target at Rs 1.70 lakh
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Gold seen at Rs 15 lakh per 10 grams as billionaire calls tenfold rise inevitable, technical target at Rs 1.70 lakh
Gold seen at Rs 15 lakh per 10 grams as billionaire calls tenfold rise inevitable, technical target at Rs 1.70 lakh
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: 2 sources, 1 neutral, 1 sensationalist
Sources (2): timesofindia.indiatimes.com (sensationalist), timesofindia.indiatimes.com (2) (neutral report)
This brief was synthesised by AI from the 2 sources linked above, so one read covers every framing they carry. Methodology and corrections.
Updated: this story now draws on 2 sources.
