Gold prices in India just dropped sharply: Check today's rates
Gold prices in India just slid by ₹8,507 per 10gm this week, closing at ₹1,21,077 after peaking earlier at ₹1,29,584.
That's a sharp 7% dip—mainly because investors are cashing out profits as US-China trade ties look up and the US dollar gets stronger, making gold less of a go-to safe haven.
Gold's recent dip could mean better deals
Even with the drop, gold demand was robust during the recent festive and wedding season shopping.
For anyone eyeing the market or planning to buy jewelry soon, this dip could mean better deals.
Globally too, gold hovered around $4,060 an ounce as traders watched for possible US Fed rate cuts.
What to expect from gold in coming weeks?
Everyone's waiting on fresh US inflation data and updates about the ongoing government shutdown—both could shake things up short-term.
Experts think gold will bounce between ₹119,500 and ₹124,500 per 10gm in coming weeks.
Longer term? Ongoing global tensions and inflation keep gold relevant if you're thinking beyond quick flips.