Gold Prices Plummet: Biggest Weekly Fall Since 1983, Will it Drop Below 1 Lakh?

• International gold prices saw a massive fall on Saturday, dropping below $4500 per ounce.
• This marks the biggest weekly decline in gold prices since 1983.
• COMEX gold futures traded at approximately 4,492 rupees per ounce, down by about 2.47 percent.
• Despite geopolitical instability, demand for gold as a 'safe-haven' is weakening due to a strong US dollar, rising inflation, and increasing oil prices.
• Experts suggest a further short-term decline is possible, but falling below 1 lakh rupees is unlikely.