Gold Price Plunge: Experts Predict Drop Below Rs 80,000 as Russia Shifts Strategy

• Gold prices, which peaked at Rs 1,34,400 per sovereign on January 29, are now expected to fall below Rs 80,000.
• The surge in gold prices was attributed to global economic instability and government hoarding.
• Experts predict Russia's decision to re-engage with the US dollar will lead to a significant decline in gold prices.
• Russia may sell its gold reserves to meet dollar demand, impacting global prices.
• BRICS countries, major gold buyers, are also expected to reduce purchases, further driving down prices to Rs 70,000-Rs 80,000 per sovereign by 2027.