Global gold price drop 2026: Yellow metal slips 6% in dollar terms, but top Indian gold ETFs still deliver 7.5% returns - Livemint

AI desk brief

Gold traded around $4,045/oz on 11 November 2026, down 6.36% YTD, while Indian gold ETF returns reached 7.54% in rupees through 9 November; the article partly attributes the divergence to rupee weakness cushioning dollar-price losses. Quantum Mutual Fund reported $1.2 billion of global gold ETF net inflows through 23 October and approximately 10 tonnes of additional holdings during October. It attributed October’s 6.87% gold decline to inflation, tighter-policy expectations and elevated real yields. Quantum sees longer-term support intact, but says near-term direction depends on inflation, Fed policy, real yields and the dollar; stagflation could renew diversification demand.