Gold prices dipping before Diwali, Dhanteras: Will the trend persist? Listen to experts

Over the past few days, the price of gold has declined due to a few factors such as a strong US dollar, rising treasury yields, higher inflation concerns on elevated crude oil prices and profit booking by investors. On Friday, the price of gold briefly dipped to 3,989 US dollars.

Kolkata: The demand for gold peaks in India surges during the festive season. Purchasing gold during Dhanteras and Diwali is considered auspicious by millions of Indians. Gold prices are currently seeing a decline during this festive period. Analysts suggest that gold and silver may face new challenges this week. Concerns regarding inflation have resurfaced due to rising crude oil prices. Furthermore, policy decisions from the US Federal Reserve could determine whether the prices of precious metals will stabilize or decline further.

Impact of bond yields

Precious metals are already under pressure due to rising bond yields and a strengthening dollar. All eyes are now on the Federal Reserve meeting scheduled for October 27–28 and the statements from its Chair, which may provide clues as to whether interest rates will remain high for an extended period.

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