Will Gold Price Fall Below ₹1 Lakh Per Sovereign by the End of June? Latest Gold Price Trend

Gold prices in Tamil Nadu have been gradually declining since the beginning of June, raising expectations among buyers about whether the price of one sovereign of gold will fall below ₹1 lakh before the month ends.

On June 1, the price of 22-carat jewellery gold was around ₹14,500 per gram, with one sovereign (8 grams) priced at ₹1,16,000. The price continued to decline and reached its lowest level of the month on June 11, when gold was sold at ₹13,500 per gram. Compared to June 1, the price dropped by ₹1,000 per gram and ₹8,000 per sovereign.

After this decline, gold prices saw a slight increase following the Iran ceasefire announcement. However, the prices started falling again after June 15. Currently, 22-carat gold is being sold at around ₹13,600 per gram and ₹1,08,600 per sovereign in Tamil Nadu.

If the current downward trend continues, gold prices may see a further decline. Based on the recent trend, the price of one sovereign could reach around ₹1,05,000 levels by the end of June. However, for gold to fall below ₹1 lakh per sovereign, the price per gram would need to drop below ₹12,500, which appears less likely at present.

The future movement of gold prices depends largely on global factors, especially the situation between Iran and the United States. Ongoing uncertainty in international markets has created confusion among investors over whether to invest in gold, crude oil, or the US dollar.

Experts believe that the direction of gold prices in the coming days will depend on global developments and market conditions.

Disclaimer:

Gold prices are subject to market changes and global factors. This article is for informational purposes only and should not be considered investment advice. Consult a financial expert before making investment decisions.