On the MCX, the October contract crossed the psychologically important Rs 1 lakh degree, touching Rs 1,00,484 per 10 grams—its highest ever. The June and August contracts additionally hit report highs of Rs 99,178 and Rs 99,800, respectively. International costs have been equally buoyant, with spot gold reaching an all-time excessive of $3,500.05 per ounce earlier than settling barely decrease.
The worth surge has intensified debate over the metallic’s future trajectory. But it surely additionally triggered a wave of nostalgic humor on-line, as a scene from the 1989 movie Guru—the place Kapoor performs a villain—went viral. Within the clip, his character delivers a dramatic monologue forecasting gold costs touching Rs 5,000, Rs 10,000, Rs 60,000, and finally Rs 1 lakh per tola (11.66 grams).
Although not technically correct in models, the clip struck a chord with viewers amid at this time’s worth milestones. One X (previously Twitter) consumer shared the meme, dubbing Kapoor “India’s first economist” for having “predicted” gold’s future lengthy earlier than analysts did.
The viral video coincides with intense exercise in each home and international bullion markets. In India, gold costs rose by Rs 1,899, or practically 2%, on Tuesday to Rs 99,178 per 10 grams on MCX. In Delhi’s bullion market, 24-carat gold hit Rs 73,350 per 10 grams final Friday, posting a pointy intraday acquire of Rs 1,050.
Analysts attribute the rally to heightened geopolitical tensions, notably in West Asia, and a flight to safe-haven property following U.S. President Donald Trump’s criticism of Federal Reserve Chair Jerome Powell.In the meantime, social media continues to experience Kapoor’s inadvertent monetary fame.“If solely Shakti’s prophecy turns true, and gold actually hits Rs 1 lakh per tola,” joked one consumer, summing up the web temper.
Whereas economists debate the rally’s sustainability, Shakti Kapoor’s cinematic quip from the late Nineteen Eighties has delivered a uncommon second of levity amid the present market frenzy.
Additionally learn | Final protected haven standing: Why is gold buying and selling just like the world is in a melancholy?
(Disclaimer: Suggestions, strategies, views and opinions given by the consultants are their very own. These don’t symbolize the views of The Financial Occasions)
