Gold may hit Rs 15 lakh per 10 grams? Billionaire investor Thomas Kaplan sees gold at $50,000 an ounce, calls another tenfold rise 'inevitable'

Will gold prices hit $50,000 per ounce in the coming years? Thomas Kaplan, the chairman of Electrum, and a billionaire has predicted that the yellow metal may rise as much as ten times from its current values. In fact, Kaplan has said that he sees a dramatic increase in gold prices as inevitable rather than merely possible.

"I can see gold going to 30, 40, 50,000 dollars without a problem,” Kaplan told Kitco News in an interview recently. If one were to convert $50,000 per ounce rates according to an average value of 95 per dollar, it would roughly translate into a price of around Rs 15 lakh per 10 grams.