Gold prices are on fire Gold prices have been on fire, jumping 20% in just the past 2 months.

That takes gold t toa near-doubling since pre-pandemic, when it was meandering aicnge at cil 1500. While going to press it closed above 2400.

Banks make sky high price predictions At this point, Wall Street is falling over each other trying to up their gold targets. Goldman says 2700, Bank of America says 3000 by next year, and UBS is saying 4000 in the next "2 to 3 years."

If that happens, we'd be looking at a near-tripling of gold prices. Which would be the biggest rally since the 2008 crisis. Before that, you'd have to go back to the 70's.

Fundamentally, gold is insurance. When the world is as badly run as it is today, it's the last line of defense. And investors are finally realizing that.

The surge in gold prices finds its roots in a confluence of factors, ranging from geopolitical tensions to global economic slowdowns.

Central bank purchases, inflationary pressures, heightened retail demand, increased interest through Exchange-Traded Funds (ETFs), stagnant gold mining production since 2016, and the ramifications of de-dollarisation have all contributed to the rise in gold's value.

Gold recycling booms in India

Gold recycling is a part of the gold jewellery consumption narrative of the country. Recycling 'old gold' has been a tradition in India among a certain price-sensitive customer segment. As the gold price is moving upwards, gold recycling will remain a MAL AF crucial source of gold supply for some customers.