Gold And Silver Price Drop: Gold and silver lovers, heads up! Prices took a slight dip, and guess what? This might just be your golden (and silvery) opportunity to strike.
Spot gold slipped 0.2% to $4,059 per ounce, while December US gold futures nudged down 0.1% to $4,061.60. Silver, meanwhile, held steady at $50.70, making it a perfect chance for savvy investors to add a little shine to their portfolio.
Over in India, MCX gold (December) cooled by ₹1,807 to ₹1.21 lakh per 10 grams, and silver futures dropped ₹3,660 to ₹1.51 lakh per kg. Platinum and palladium also eased slightly.
Why the dip? A stronger dollar and fading hopes of a US rate cut put metals under a short-term pressure. But here’s the silver lining, long-term demand remains robust thanks to central bank buying, geopolitical concerns, and global diversification trends.
Buyers, keep your eyes peeled, this could be a golden entry point!
Gold
Silver
Traders and gold lovers, buckle up! Everyone is looking at the U.S. this week as the markets anticipate two major events: the Fed meeting minutes to be released on Wednesday and the September Nonfarm Payroll on Thursday.
What Is The buzz About?
Anticipations of a reduction in the rate in December have been lowered to 43–60%, and this has put short-term pressure on gold and silver. Still, there is no need to panic, because long-term support is still burning bright due to geopolitical tension, U.S. debt concerns, the de-dollarisation trend, and central bank buying.
The action at hand is what the numbers indicate: any mollifying news on jobs or even the slightest tincture of a dovish Fed approach can create a new wave of buying and push up gold, whereas robust employment or intractable inflation may put a lid on the gains. Watchers of markets recommend the need to be on guard and be prepared, since the coming few days may lead to the next action of gold.
(With Inputs From PTI)
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The post HURRY! This Is The Perfect Time To Buy Gold & Silver As Prices Dip- Here’s What Investors Should Know appeared first on NewsX.
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