Gold Prices in India May Decline to Rs 25, 000-27,000 per 10 gm

NEW DELHI (Scrap Monster): According to the market experts, the gold prices in India are likely to decline to about R25, 000-27,000 per 10 gm from the current levels of R30, 000 per 10 gm in the current financial year.

This prediction is the basis of the current economic status of the country as the Indian Rupee began to gain power against the dollar, Rs 60. Recently, the government has announced to reverse the restriction over the gold imports as its CAD narrows.

It is said that the US Fed has recognized that the economy of the country has progressed enough to pull back their stimulus packages which would be a heavy blow to the gold prices. The world gold prices are likely to go down between $1,150-1,250 per ounce from the existing levels of $1,300 per ounce.

Moreover, the EU and Japan have been pondering over to restrict their economy as the anxious over their currencies are likely to decline would also affect the gold prices.