Gold Prices Could Plummet by 37% Amid Market Turbulence

The World Gold Council has warned that gold prices could plummet by as much as 37% from their current peak if market trends continue.

This prediction is based on a report from the council, which states that a drop below $3,857 per ounce could trigger further declines in the price of gold.

At present, gold is trading at around $4,063.80 per ounce, and has already fallen by 7.8% since the beginning of the year.

The recent decline in gold prices can be attributed to changing interest rate expectations after the U.S. Federal Reserve kept rates unchanged, as well as geopolitical tensions between the United States and Iran, which have influenced investor sentiment.