Gold prices fall to Rs 7,740: Is this the right time to invest?
Gold prices in India saw a decline, with 24-carat gold dropping by Rs 1,310 to Rs 7,740.3 per gram, and 22-carat gold falling by Rs 1,200 to Rs 7,096.3 per gram. The dip mirrors global trends ahead of key U.S. economic data, prompting investors to weigh their buying strategies carefully.
Gold prices held steady on November 27, with spot gold at $2,635.56 per ounce, trading within a tight $9 range as investors anticipated U.S. inflation data. U.S. gold futures edged up by 0.6 per cent to $2,635.80 per ounce. In India, 24-carat gold dropped Rs 1,310 to Rs 7,740.3 per gram, and 22-carat gold fell Rs 1,200 to Rs 7,096.3 per gram, tracking the global trend.
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Gold prices take a slight dip today
Gold prices have seen a minor decrease, with 24-carat gold now at Rs 7740.3 per gram, reflecting a drop of Rs 1310.
Silver prices also fall across cities
Silver is priced at Rs 92500 per kg, witnessing a Rs 2000 drop, influenced by subdued international demand.
Gold price trends in major cities
Delhi, Chennai, and Kolkata report slight declines, with prices ranging between Rs 77251 and Rs 77403 per 10 grams.
Fluctuations linked to U.S. data
Disappointing U.S. housing data and bond yield adjustments have impacted global gold and silver prices.
Dollar index plays a pivotal role
Gold prices are closely tied to the dollar's strength, which has recently softened, slightly stabilizing precious metals.
MCX trading insights
Gold and silver futures show mixed trends; silver has seen gains, trading at Rs 88625 per kg on MCX.
What to watch for in gold markets
Upcoming U.S. GDP data and FOMC minutes could signal inflation trends, influencing the Fed's rate decisions.
Israel-Hamas ceasefire adds volatility
Hopes of a ceasefire reduce gold’s safe-haven appeal, yet ongoing geopolitical tensions sustain interest.
Fluctuations linked to U.S. data
Disappointing U.S. housing data and bond yield adjustments have impacted global gold and silver prices
Bullish outlook despite recent dips
Analysts remain optimistic about gold’s potential as global factors drive demand for the safe-haven asset.