Can gold slip below ₹1 lakh by 2027? A big news related to Russia has created a stir in the global gold market. Experts believe that if geopolitical equations change and the withdrawal of dollar accelerates, then gold may fall to $3000 per ounce in the international market. After giving excellent returns in 2025, gold reached a new high in January 2026. Gold had reached a peak of ₹1,80,779 per 10 grams on the Multi Commodity Exchange (MCX). However, last week it closed at ₹1,56,200 per 10 grams, i.e. a fall of about 13.5%. In the international market, gold on COMEX slipped from the record level of $5626.80 per ounce to $5,046.30 per ounce, which is down by about 10.5%.
Discussion of Russia’s return to dollar
According to Bloomberg report, Russia is considering returning to trade settlements in US dollars. It is being told that the Kremlin is exploring possibilities of possible economic partnership with America. If this happens then it can give a blow to the de-dollarization campaign of BRICS countries. BRICS includes Brazil, Russia, India, China and South Africa. For the last few years, these countries were working on a strategy to reduce dependence on the dollar and increase gold reserves.
Central banks’ purchases became the biggest support
Market experts say that the major reason for the rise in gold was the aggressive buying by global central banks. Especially BRICS countries bought gold on a large scale, due to which supply was less and demand was more. Between 2020 and 2024, the central banks of these countries accounted for more than half of the global purchases. But this trend could change if Russia returns to dollar-based settlements. In such a situation, the Central Bank can stop the purchase of gold or even book profits.
Will gold slip to $3000?
Experts predict that the current decline can only continue with a dead cat bounce. If the dollar strengthens globally and the US Fed postpones rate cuts, the pressure on gold may increase further. Some analysts believe that by 2027, gold may reach $3000 per ounce in the international market. Its price in India may stabilize in the range of ₹90,000 to ₹1,00,000 per 10 grams.
What signals for investors?
Gold has traditionally been considered a safe investment in times of economic uncertainty, but the experiences of 2008 show that long-term government bonds can also become a safe option.
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