Gold prices set to drop after Diwali rush
Gold purchases may decline after Diwali as prices prepare to drop when Indian markets reopen on Wednesday. International rates plunged 5.5 percent in the sharpest fall since August 2020. Domestic traders anticipate corrections bringing costs down to between 122,000 and 123,000 rupees per 10 grams. Silver declined more than 2 percent to trade near 47.60 dollars per ounce following a 7.1 percent retreat in the prior session.
The precious metals tumbled from record peaks as investors collected profits after substantial gains this year. Many buyers grew wary that the rally had entered excessive territory. Central banks moving away from dollar reserves and retail fund investments had pushed gold up nearly 60 percent through 2025. Market caution increased after signs emerged of advancing trade discussions between Washington and Beijing.
