Gold in India falls ₹1,000 before Dhanteras, silver 10-month low
Business
Ahead of Dhanteras, gold prices in India dropped by ₹1,000 to ₹1.48 lakh per 10gm, while silver slid to a 10-month low at ₹2.07 lakh per kilogram.
These drops are linked to rising oil prices, inflation worries, and talk of stricter US monetary policy, basically making things a bit shaky for precious metals.
Festive buyers may find better deals
The timing is interesting since Dhanteras and Diwali usually mean more people buying gold and silver.
Ashish Rajodiya, Head of Commodities at PL Capital, points out that inflation fears and a steady dollar are making gold less appealing right now.
Gaurav Garg, Head of Research at Lemonn, adds that expectations of higher US interest rates are pushing more people to sell.
All this means festive shoppers might find better deals this season.