After touching record high in recent weeks, there has been a slight decline in gold prices. Today, 24 carat gold is trading between ₹1,53,600 to ₹1,55,400 per 10 gram in the Indian market, which provides some relief from last week’s all-time high of ₹1.80 lakh. However, global brokerage JP Morgan believes that this decline is only temporary. According to him, the price of gold in the international market can reach $6,300 per ounce by the end of this year. This will have a direct impact on the Indian market, where Gold can cross the level of ₹ 2 lakh per 10 grams. Heavy buying by Central banks, shift from dollar and currency security are considered to be the major reasons for this rally. The outlook for Silver is also positive and prices are expected to reach $75–$80 per ounce.