Experts predict that gold prices may fall to Rs. 25,000 per 10 grams by the month of July due to a global lean towards yellow metal and a rising rupee. Previously gold has fallen from Rs. 30,300 per 10 grams at the beginning of May to about Rs. 27,000. Standard gold and pure gold prices also took a dive in the Mumbai bullion market while in Delhi it was Rs. 40 to Rs. 27,240 per 10 grams for the standard gold prices.
The next price fall to come is credited to the Narendra Modi government bringing down the import duty to 6 per cent from 10 per cent within the last few weeks.
“When the price falls to Rs. 25,000 (per 10 grams), retail buyers will return to jewellery shops,” says CP Krishnan, whole time director of Geojit Comtrade, a leading commodities trading firm. CJ
Author: Canadian Jeweller Magazine Staff
Canadian Jeweller Magazine Staff is the shared byline for reporting filed by the magazine's editorial desk. Founded in 1879, Canadian Jeweller is the longest running jewellery business publication in Canada, covering market reporting, retail strategy, watches, diamonds, coloured gemstones and the commerce of the Canadian jewellery trade. Work published under this byline is edited and verified by the Canadian Jeweller editorial team in Toronto.
