India's Gold Prices Slip Ahead of Diwali as Fed Decision Looms
NDTV Profit reported that India's 24-carat gold price slipped to about Rs 1. 43 lakh per 10 grams on 28 October, as investors watched the U. S. Federal Reserve's pending rate decision ahead of the Diwali festival. The decline follows a week-long slide that saw gold futures on the MCX fall to Rs 1.
42 lakh per 10 grams on 23 October, a drop of more than 21 % from the January 2026 peak, according to Livemint. Earlier in the week, the India Bullion and Jewellers Association noted prices of 24-carat gold and silver falling to Rs 1. 42 lakh and Rs 1. 94 lakh per kilogram respectively. On 26 October, domestic gold and silver rates rose modestly in major cities while international spot gold slipped below $4,000, and on 27 October silver on the MCX dropped more than 2 % as a stronger dollar and mixed Fed signals pressured precious metals.
