The late-year downturn brought gold futures down by roughly 7% and silver by almost 20% on the Multi Commodity Exchange. However, prices showed signs of stabilization by Monday, 2 November, with December gold trading between ₹1,39,065 and ₹1,39,179 per 10 grams and silver hovering near ₹1,82,000 per kilogram. Analysts have identified ₹1,38,250 per 10 grams as an immediate support floor for gold, while ₹1,78,800 per kilogram represents the critical support threshold for silver. Given the prevailing macro headwinds, market experts advocate for disciplined, phased accumulation during the Dhanteras and Diwali period.
Key points
Global commodity pressures and expectations of elevated U.S. interest rates have pushed p…: Global commodity pressures and expectations of elevated U.S. interest rates have pushed precious metals well below their January 2026 record highs.
Market analysts recommend that festival buyers and long-term investors accumulate preciou…: Market analysts recommend that festival buyers and long-term investors accumulate precious metals in staggered phases instead of committing lump-sum capital.
Investors should maintain smaller portfolio allocations to silver because of its higher v…: Investors should maintain smaller portfolio allocations to silver because of its higher volatility and sharper price swings.
Sources checked by our analysis pipeline: 1
Gold and silver prices have taken a sharp knock in October, offering some relief to buyers ahead of Dhanteras and Diwali 2026.
On the Multi Commodity Exchange (MCX), gold futures fell around 7% during the month, while silver futures plunged nearly 20% — almost three times gold's decline. The correction has brought prices well below their January 2026 record highs, raising a familiar festive-season question: Is this the right time to buy precious metals, or could prices fall further?
Analysts say the sell-off reflects a combination of rising interest-rate concerns, elevated crude oil prices and pressure across global commodity markets. While lower prices may offer an opportunity for those planning festive or wedding purchases, experts caution that the trend remains weak. Their advice is to avoid investing the entire amount at once and instead accumulate in phases, with greater caution around silver because of its sharper price swings.
MCX gold and silver futures rebounded on Monday, 2 November, recovering from the sharp sell-off towards the end of October as global bullion markets stabilised ahead of Dhanteras and Diwali. December gold…
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