Gold Prices Plunge by ₹31,000 in 4 Days; JP Morgan Predicts 32% Rebound

• Gold prices have seen a historic drop, with a kilogram falling by ₹31,000 in just four days, shocking enthusiasts.
• Globally, an ounce of gold plummeted from $5,500 to $4,700, currently trading around $4,767, a fall of over $700.
• Investment banking firm JP Morgan predicts gold will reach $6,300 per ounce by year-end, a 32% increase from current levels.
• JP Morgan attributes the expected rise to strong demand from central banks and investors, projecting 800 tons of gold purchases by central banks in 2026.
• Silver prices, after surging from $80, have also fallen back to around $81 per ounce, with JP Morgan advising caution due to less central bank activity compared to gold.

Why It Matters: Gold prices experienced a historic drop but JP Morgan forecasts a significant rebound by year-end due to strong demand.