Gold price drops. Why has gold rate recorded sharp fall from historic high?

After the record rise in the price of gold, now the phase of decline has started. Gold has definitely become cheaper in the last few days, but it is still very expensive. Due to this, many people are not able to buy gold jewellery even in the wedding season. However, now there is good news. This year gold can break from its record high of Rs 99 thousand per 10 grams and reach Rs 70,000.

Experts say that in terms of returns, gold has performed better than both shares and bonds.

Gold may become cheaper by Rs 27 thousand

Vitaly Nesis, Chief Executive Officer (CEO) of Solidcore Resources PLC, the world's largest company engaged in gold mining operations, has made this claim. He said that the price of gold is expected to fall sharply in the next 12 months.

25% fall can happen this year

In such a situation, according to the estimate of Nesis, the price of gold can fall by about 25%. That is, the rate of gold in the Indian market can break and reach close to 70 thousand per 10 grams. Nesis believes that this record rise in the price of gold is due to overreaction. There will be a big fall in gold as soon as the situation in the world improves. However, it will not reach the earlier level.

Women's concern increased

The unprecedented rise in the price of gold has not only shocked the market but has also deeply affected the pockets of common people and has increased the concern of women in the wedding season. During Akshaya Tritiya and wedding season, when buying gold is the priority of every Indian household, the unexpected rise in the prices of this precious metal has shocked middle-class families.

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Buying jewellery has been a priority for women during festivals and family functions. Despite the rising prices, many women believe that without gold jewellery, such occasions seem incomplete.

Gold has become costlier by Rs 22,650

Experts say that in terms of returns, the performance of gold has been better than both shares and bonds. Sadhna Kathuria, who lives in Palam, Delhi, says, "After my husband's death, I worked and raised my two children. My daughter got married last year.

My son-in-law is in Canada; my daughter also got a job there. Now my son's wedding is in November. While in Canada, 22 carat gold is around Rs 86,000 per ten grams. I am thinking of sending money to my daughter and son-in-law and getting something from Canada for my daughter-in-law.'' People are returning after asking the price

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Summary

A goldsmith in Mayur Vihar, Delhi, said, "We have been in this business for decades, but this is the first time that customers are looking more confused than happy in their eyes. Earlier people used to look at the designs of the jewellery, now they are returning only after asking the price.

We are afraid that if these prices remain like this, it will be difficult for small shopkeepers to survive, and the business will slow down."