Gold and silver prices have been on a record-breaking rise for months, touching all-time highs globally. While most brokers and market analysts predict the rally will continue, Amit Goyal, Co-founder and Chief Global Strategist of PACE 360—which manages over $2.4 billion in assets—has issued a stark warning: the surge may soon end with a major crash.
In Delhi, as of October 6, 24-carat gold costs Rs 1,19,540 per 10 grams, and silver is priced at Rs 1,54,900 per kilogram.
Goyal warns that both precious metals are at their “most dangerous peak in decades.”
He noted, “In the past 40 years, only twice have gold and silver performed this well when the dollar index was weak. In both cases, a massive crash followed.”
According to Goyal, gold and silver are nearing major psychological resistance levels—signals that often mark the end of a bull run.
“I expect both metals to hit these levels in the coming days or weeks, after which a sharp selling wave could begin,” he said.
Goyal predicts a 30–35% drop in gold prices, similar to the corrections seen after major rallies in 2007–08 and 2011, when gold crashed nearly 45%. Silver, he warns, could fall even harder—up to 50% from its peak. That means: Gold could drop to ₹77,701 per 10 grams. Silver could tumble to ₹77,450 per kilogram.
Goyal suggests investors wait for gold to fall to $2,600–$2,700 per ounce before re-entering the market. “At that level, gold will again become one of the best global investments,” he said. However, he advised caution with silver, citing weaker long-term prospects.
Goyal explained that silver’s industrial demand—used in photovoltaics, semiconductors, and electric vehicles—won’t be enough to offset the impact of a global slowdown.
He added, “Silver is currently overhyped and overbought, making it more vulnerable to steep declines.”
Experts caution that short-term traders may face volatility, while long-term investors should wait for corrections before making new entries. Diversifying portfolios beyond gold and silver is recommended to manage risk.
Disclaimer: The views expressed are those of market experts and do not reflect News18’s position. Investors are advised to consult certified financial advisors before making any investment decision
