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Gold may hit Rs 15 lakh per 10 grams: billionaire Kaplan
Billionaire investor Thomas Kaplan has forecast that gold prices could rise tenfold from current levels, potentially reaching $50,000 per ounce. At an exchange rate of Rs 95 per dollar, that would translate…
Billionaire investor Thomas Kaplan has forecast that gold prices could rise tenfold from current levels, potentially reaching $50,000 per ounce. At an exchange rate of Rs 95 per dollar, that would translate to roughly Rs 15 lakh per 10 grams in India. Gold is currently trading around $4,600 per ounce.
Kaplan, chairman of Electrum Group, told Kitco News that a tenfold increase is "not just likely, but inevitable." He compared the current gold correction to the 1987 stock market crash, calling it a buying opportunity within a long-term bull market. Kaplan did not specify a timeframe for the predicted rise.
The forecast comes after gold prices corrected from historic highs reached in 2025. Several analysts remain bullish on gold in the long term, though sharp corrections are expected along the way.
Indian Opinion Analysis
Kaplan's $50,000 forecast is an extreme outlier even among gold bulls. The metal would need to sustain a compound annual growth rate far above its historical 9% annual return since the end of the gold standard in 1971 to reach that level in a decade. India, the world's second-largest gold consumer after China, imported 586 tonnes in FY25, according to the World Gold Council. If Kaplan's thesis plays out, household gold holdings worth an estimated Rs 2.3 lakh crore would multiply, but import bills for a net-importing economy like India would balloon. The next concrete signal is the RBI's gold buying data: central bank purchases have been a key driver of the bull run, and any slowdown in that trend could test Kaplan's inevitability thesis.
The RBI gold buying data for the December quarter, due in early February, will show whether central bank demand is sustaining the rally.
Source: timesofindia.indiatimes.com
This brief was synthesised by AI from the source linked above.
