Gold prices dip in India as markets eye US updates
Gold just got a bit cheaper in India, with prices dropping to ₹9,373 per gram for 18-carat and up to ₹12,497 for 24-carat.
This follows global trends as everyone waits for key economic news from the US.
While spot gold nudged up slightly worldwide, US futures slipped a little—showing how jumpy the market is right now.
What's driving the change?
Investors are glued to upcoming US job data, which could shape future interest rates.
A stronger dollar and fewer expected rate cuts are making gold less attractive in the short term.
Still, Rahul Kalantri, VP - Commodities at Mehta Equities, says gold's long-term outlook is strong thanks to steady central bank buying and people turning to it during uncertain times.
Even with recent ups and downs, gold seems set for solid annual gains.