BusinessGold Prices Correct 26% Since January Peak, Possible Diwali Buying Opportunity
Gold prices have dropped over 26% from the January peak of $5,595 per ounce to around $4,100, marking one of the sharpest declines in recent years. The fall occurred in stages, with prices recovering to about $4,700 by late August before falling again to $4,250 by mid-September due to rising US Treasury yields, a stronger dollar, and inflation concerns. Market experts see current valuations as attractive, with MCX gold trading below ₹1.50 lakh.
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