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Gold Price Drops by ₹3,500 in a Week! Will Rates Fall Further for Dussehra, Diwali?
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News18•05-10-2026, 09:47
Gold Price Drops by ₹3,500 in a Week! Will Rates Fall Further for Dussehra, Diwali?
- •24-carat gold dropped by ₹3,500 per 10 grams last week, while 22-carat jewelry gold saw a ₹3,200 decline.
- •The significant drop in gold prices comes as the festive season, including Dussehra and Diwali, approaches, offering a jackpot for shoppers.
- •Uncertainty surrounding interest rates due to the upcoming US Federal Reserve monetary policy meeting is a major factor in the price decline.
- •In Delhi, 24-carat gold is ₹1,49,330 per 10 grams, 22-carat gold is ₹1,36,900, and 18-carat gold is ₹1,12,040.
- •Bulgarian mystic Baba Vanga predicted a 25% to 40% rise in gold prices by 2027, amidst a potential global economic crisis.
Key Questions Answered
Last week, 24-carat gold dropped by ₹3,500 per 10 grams, while 22-carat jewelry gold saw a decline of ₹3,200. Similarly, the price of one kilogram of silver fell by ₹5,000 on October 1 due to a decrease in industrial demand.
The drop is largely driven by the upcoming monetary policy meeting of the US Federal Reserve scheduled for October 28. Financial market uncertainty surrounding interest rates has made large institutional investors cautious, triggering profit-booking that pushed precious metal prices down.
Baba Vanga's prophecy predicts a potential global economic crisis or cash shortage in 2027, which is expected to drive gold prices up by 25% to 40% amid rising global instability.
