Gold price crash: Just Rs 55496 for 10 grams of gold
Gold price crash: Shocking news has come out for gold investors. Experts say that gold prices may be decline 38 per cent in the coming months. This decline can bring a big change in the gold market and surprise investors. Gold price crash: Just Rs 55496 for 10 grams of gold.
According to experts, this decline in gold prices may be the cause of global economic conditions, central bank policies and the strength of the US dollar. In addition, if the financial markets are improved and other investment options start to perform well, the price of gold can fall.
On March 31, the price of 24 carat gold in India was Rs 89,510 per 10 grams. In coming month it can drop to Rs 55,496 per 10 grams up to 38 per cent. John Mills, an analyst of Morningstar, an American financial service company, says gold prices can drop to $ 1,820 per ounce, which is about 38% below the current level.
Rise in Gold Supply: When gold prices increase, mining companies tend to get more gold. The average profit of gold mining companies in the second quarter of 2024 was $ 950 per ounce, the highest since 2012. Also, old gold is also being recycled, increasing the supply of gold in the market. Additional supply can put pressure on prices.
Gold demand is decreasing: Central banks and investors have been making big purchases of gold for the past few years, but their interest is unlikely to last much longer. Central banks bought 1,045 tonnes of gold in 2024, but most of the expert explain that most of them could reduce their gold holdings next year.
This means that gold demand may be reduced in the future, which can affect prices. In 2024, the gold industry saw an increase of 32% of the deals, indicating that gold prices could have reached its maximum. John Mills says gold prices may be reduced, but not all experts agree.
Some major analysts believe that gold prices may further rise. The Bank of America estimates that gold price will reach $ 3,500 per ounce over the next two years, but Goldman Sachs believes that by 2025, the price of gold will reach $ 3,300 per ounce.
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