Gill Expects Gold Prices to Rise Towards $5,000 Amid Central Bank Demand

Manpreet Gill, chief investment officer at Standard Chartered, believes gold prices may be on the verge of another rally.

Gill points to central banks stockpiling gold as a key factor in this potential rise. He notes that while buying can ebb and flow, central banks tend to step in when prices cool rather than when they're rising sharply.

Gold prices have surged about 70% from ₹76,308 per 10 grams on January 1, 2025, to ₹1,53,045 now. Gill expects gold to approach $5,000 over the next six to twelve months.

Gill sees central bank demand as a major driver of this potential rally, but notes that silver prices are more closely tied to economic cycles and may not benefit from this trend in the same way.