Impact on Domestic and International Markets
In the international market, gold prices have also seen a decline. The December contract on COMEX is at 2,747 dollars per ounce. Experts believe that the upcoming US presidential election could lead to market volatility, which may cause fluctuations in gold and silver prices.
Market Analysis
After the festive season, the Indian market sees a surge in gold demand, especially during the wedding season. The demand for jewellery and coins increases significantly. According to the Lucknow Sarafa Association, the price of 24-carat gold is 81,100 rupees, 22-carat is 78,100 rupees, and 18-carat is 71,700 rupees per 10 grams.
Potential Risks and Advice
Experts believe that the current decline in gold prices could be an opportune time for investment, but the US presidential election could lead to market volatility. Therefore, buyers should exercise caution before making a purchase.