Experts Predict Gold Prices May Fall Below Rs 56,000 – A Potential 40% Decline
Globally, spot gold prices peaked at $3,164 per ounce, fueled by escalating trade tensions and growing investor caution.
Experts Predict Gold Prices May Fall Below Rs 56,000 – A Potential 40% Declinem, Latest News: Gold prices have been soaring recently, but amid the ongoing surge, a U.S.-based expert has made a surprising prediction of a major downturn in the coming years.
John Mills, a strategist at Morningstar, has forecasted a 38% drop in gold prices, bringing them down to around Rs 55,000 per 10 grams in India. Currently, gold is priced at approximately Rs 90,000 per 10 grams in India and $3,100 per ounce in the global market.
According to Mills, the price of gold could fall to $1,820 per ounce, down from its current level of $3,080 per ounce. He attributes the expected decline to factors such as a rise in supply and a drop in demand.
Despite this bearish outlook, some major financial institutions remain optimistic. Bank of America has projected that gold could touch $3,500 per ounce within the next two years, while Goldman Sachs anticipates a year-end price of $3,300 per ounce.
Gold has seen significant price fluctuations recently, largely driven by global economic shifts and policy decisions. The recent tariffs introduced by the U.S. administration have added to market volatility, prompting investors to turn to gold as a safe-haven asset.
On April 4, 2025, gold prices in India witnessed a sharp decline. The price of 24-carat gold dropped by Rs 17,400 per 100 grams, settling at Rs 91,640 per 100 grams. This comes after nearly ten consecutive days of price increases, during which gold reached record highs.
Globally, spot gold prices peaked at $3,164 per ounce, fueled by escalating trade tensions and growing investor caution.
A recent report by Reuters also highlighted how these geopolitical and economic developments have played a key role in shaping current market trends and investor behavior.
Current Gold Prices in Major Indian Cities (as of April 4, 2025):
|
City |
22K Gold (Rs /10g) |
24K Gold ( Rs/10g) |
|---|---|---|
|
Delhi |
85,783 |
93,563 |
|
Mumbai |
85,610 |
93,390 |
|
Bangalore |
85,625 |
93,405 |
|
Chennai |
85,631 |
93,411 |
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