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2w ago

Gold Falls to Rs98,020 in India as Silver Climbs to Record Rs1,04,760 per Kilogram

Economic uncertainty from weak U.S. data has fueled silver’s climb past $36 per ounce: analysts forecast a potential gold correction

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Overview

  • Gold prices in India slipped to Rs98,020 per 10 grams on June 6, down from Rs98,630 a day earlier, according to the Indian Bullions Association.
  • Silver futures reached a record Rs1,04,947 per kilogram on June 5 and traded at Rs1,04,760 per kilogram on June 6, while international silver topped $36 per ounce.
  • The gold-silver ratio fell below 100 this year for the first time, triggering accelerated demand for silver.
  • Weak U.S. economic indicators and expectations of at least two Federal Reserve rate cuts have driven investors toward non-yielding assets like gold and silver.
  • Quant Mutual Fund predicts a 12–15% decline in gold over the next two months, whereas Robert Kiyosaki anticipates silver could double to $70 per ounce by year-end.