Gold Prices Plunge: Will it Fall Below 1 Lakh in India? Experts Predict Major Crash

• Gold prices on MCX have fallen by approximately 24,500 (13.50%) from their January 2026 peak of 1,80,779 per 10 grams.
• The current decline is attributed to Russia's potential return to trading in US dollars, weakening the 'de-dollarization' movement.
• BRICS nations, which control 50% of global gold production, had aggressively bought gold to establish it as an alternative trade medium.
• Experts like Amit Goyal of PACE 360 predict gold prices in India could fall below 1 lakh per 10 grams, and internationally to $3,000 per ounce.
• A significant sell-off in 'paper gold' is expected, followed by a crash in physical gold prices, with any short-term rallies being temporary.