Dhanteras Brings A Golden Buying Opportunity, Gold Falls Below ₹1.43 Lakh And Silver Sheds ₹3,400 As Global Markets Turn Volatile
Mumbai: Gold and silver prices declined sharply in domestic futures trading on Friday, November 6, as a stronger US dollar, profit-booking and renewed inflation concerns weighed on precious metals during Dhanteras. On the Multi Commodity Exchange (MCX), December gold futures fell 1.16 per cent to ₹1,42,421 per 10 grams in early trading, while silver futures declined 1.36 per cent to ₹1,84,600 per…
Mumbai experienced a sharp decline in gold and silver prices on Friday, November 6, amid a stronger US dollar, profit-booking, and renewed inflation concerns during the Dhanteras festival. On the Multi Commodity Exchange (MCX), December gold futures slid 1.16 percent to ₹1,42,421 per 10 grams, while silver futures fell 1.36 percent to ₹1,84,600 per kilogram.
Despite Dhanteras being a significant occasion for gold and silver purchases in India, lower prices could lure buyers looking for jewellery, coins, and investment products ahead of Diwali. However, retail prices are influenced by factors such as purity, location, taxes, and making charges. Investors are observing US employment data for signals about the Federal Reserve's interest rate trajectory, as well as movements in crude oil, the dollar, geopolitical events, and festive demand to assess the impact on domestic gold and silver prices.
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