On one hand, there is still no clarity on when the ongoing war by the United States and Israel against Iran will come to an end. Despite expectations that gold prices would surge sharply amid escalating tensions, the gold rate has instead been gradually declining. This has now raised a key question in the minds of many—how will gold prices behave in the coming days? With elections scheduled in several key states across the country, the Modi government at the Centre has not increased petrol and diesel prices. Many believe that if not for the elections, fuel prices would have already been hiked. However, there appears to be no option but to increase these prices sooner or later. If that happens, inflation is likely to rise, which could also push interest rates higher. In such a scenario, gold purchases may be impacted. According to current estimates, gold prices are likely to remain under heavy pressure until April 15, with experts indicating a higher probability of further decline. A stronger dollar and elevated interest rates are cited as major reasons behind this trend.
Bullion market experts suggest that while the first half of next month may witness significant volatility and pressure, prices are likely to stabilize and possibly rise thereafter. It is worth noting that gold and silver prices have seen a notable decline over the past two days. This has further intensified public interest in how prices will move going forward. In Hyderabad, the price of 10 grams of 24-carat gold stood at ₹1,49,992 on Saturday. Within just two days, gold prices have dropped by nearly ₹13,000. Silver prices have also recorded a sharp fall. As always, these prices continue to fluctuate based on global developments. April gold futures are also indicating a likelihood of further decline in gold prices in the near term.