Gold Price Today – If you’ve been waiting to buy gold, your time might finally be here. With Akshaya Tritiya around the corner, a day traditionally considered auspicious for buying gold, a significant piece of news has emerged gold prices may soon see a major drop. If reports and expert predictions are to be believed, the price of gold in India might fall by as much as 27000 rupees per 10 grams in the coming days.
Gold Prices Have Been Soaring, But Not For Long
Until now, gold prices have been climbing fast, almost like a rocket. In fact, just a few days ago, the price of gold had touched the 1 lakh rupees mark per 10 grams in several parts of India. This made it harder for the average buyer to invest in gold, whether for jewelry or as a long-term asset.
At present, the price of 24-carat pure gold in Delhi is hovering around 97680 rupees for 10 grams. But if the forecasts hold true, gold prices could soon tumble down to around 70000 rupees per 10 grams. That’s a drop of nearly 27000 rupees, which is not a small number when it comes to precious metals.
Why This Sudden Price Crash Is Expected
According to market analysts and commodity experts, this expected fall is linked to global market trends and ongoing trade tensions between countries. One major reason is the speculation around the easing of the ongoing trade war. If trade barriers are removed and tensions between major economies like the US and China reduce, the demand for gold as a safe-haven asset could decline. This would result in a drop in international gold prices, which will naturally affect local Indian rates as well.
One such bold prediction has come from a gold mining company called Solidcore Resources PLC. The company claims that if trade tensions ease up, gold prices internationally might slide down from the current rate of over 3300 dollars per ounce to around 2500 dollars per ounce. That’s a steep fall, and it could reflect directly in the Indian market too.
The Indian Gold Market Reacts
India has always had a deep emotional and economic connection with gold. Whether it’s for weddings, festivals, or savings, gold plays a central role in Indian households. So, any movement in gold prices — especially a major fall — is closely watched and often leads to a rush in the market.
If gold really does fall to 70000 rupees per 10 grams, it could open up an excellent buying opportunity for both regular consumers and investors. People who had been postponing their jewelry purchases due to high prices might finally take the plunge.
Expert Advice: Be Cautious and Plan Smart
However, not everyone is jumping in with excitement. Experts have also issued a word of caution. Anuj Gupta, Head of Commodities at HDFC Securities, has advised investors to be careful. He mentions that while prices may drop, the gold market could also experience high volatility in the near future.
According to him, those planning to invest in gold should evaluate their risk tolerance and investment goals before making any decisions. This is especially important if you’re thinking of buying gold purely as an investment rather than for personal use.
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Should You Buy Now or Wait?
That depends on your reason for buying. If you need to purchase gold for a wedding, festival, or personal reasons, then this might be a good time to keep an eye on the market and act quickly when the prices dip. On the other hand, if you’re investing in gold as part of your portfolio, you might want to wait a bit and see if the predicted fall actually happens.
Also, it’s always wise to compare prices from different sellers and check for the purity and certification before buying. The market may fluctuate, but your decisions should be steady and well-informed.
All signs are pointing toward a possible correction in gold prices. A fall of 27000 rupees per 10 grams could be a game-changer, especially for Indian buyers who are used to seeing gold only move in one direction — up. The next few weeks will be critical in deciding whether this forecast becomes a reality or remains speculation.
So, whether you’re looking to buy gold for tradition, gifting, or investment, this might be the perfect time to stay alert and get ready. The golden opportunity you’ve been waiting for might just be around the corner.