Gold, silver rates crash today: What's behind plunging precious metals prices ahead of Dhanteras, Diwali 2026? Details - Livemint

AI desk brief

Gold and silver fell sharply in India on Tuesday ahead of Dhanteras and Diwali, with IBJA 999 gold down ₹542/10g to ₹1,37,576 and silver down ₹875/kg to ₹1,76,425. The pullback is being driven by expectations of a further Fed hike in December, a stronger hawkish rate backdrop, and profit booking after the year’s rally.

The article says gold has corrected nearly 3% in dollar terms over the past week to almost a one-year low, despite softer Treasury yields and a weaker dollar, while silver is seeing a deeper correction due to its higher volatility and industrial exposure. Geopolitical tension around Iran and elevated energy prices are supporting inflation concerns, but lower crude and bargain-hunting are offering only limited stabilization; Chinese household buying at lower prices is also noted as a modest physical support.