Gold Prices See a Dip, Will They Drop Further?

It's wedding season, and every homemaker’s wish is to see a drop in gold prices — a wish many have right now. Gold prices have been gradually declining over the past few days. With predictions that prices might even dip below Rs 100,000, many are waiting for further reductions. So, why have gold prices been falling in the last few days? What’s the reason behind this drop, and is there more to come, or is it just a temporary market shift?

As of April 7, gold prices have dropped by nearly 4.58% in the last three days. On April 3, the price of an ounce of gold in international markets was $3,167.62, but it has now fallen to $3,021.52. In India, the price of 24-carat gold per gram has dropped from Rs 9,338 to Rs 9,038 — a decrease of around Rs 300 in just three days.

The main reason for this decline is the strength of the US dollar. Last week, on April 4, a significant data report from the US markets caused a stir — the NFP (Non-Farm Payroll) report. According to the report, the US added 228,000 new jobs by March 2025, which impacted the dollar’s strength, thus influencing global gold prices.

So, will gold prices continue to drop, or is this just a temporary fluctuation? Time will tell, but many are hoping for further price reductions.