Gold prices surge in 2024 as demand rises and investors eye future trends

Gold prices have surged in 2024, with Comex gold rising over 40% and MCX gold increasing by more than 25% year-to-date. This growth is attributed to strong physical demand, U.S. Federal Reserve rate cuts, and geopolitical tensions. Looking ahead to 2025, gold may face challenges from potential U.S. tariffs and tax cuts under President-elect Donald Trump. Despite this, central bank buying and demand from Asian markets could support prices, with estimates suggesting gold could reach Rs 90,000 to Rs 95,000 per 10 grams. Silver prices are also expected to rise, potentially reaching Rs 1 lakh in the medium term. Investors are advised to consider a 5-10% allocation to gold in their portfolios for diversification and as a hedge against economic uncertainty.