Gold’s sharp weekly correction: Persistent selling pressure erases over 5% of market value - The New Indian Express

AI desk brief

Gold fell 5.55% from $4,114.50 to $3,886.30/oz over the reported 9–14 November period; the year is unspecified, and the source states there was no regular COMEX session on 14 November. Indian indicative 24-karat prices dropped 5.01% to Rs 137,350 per 10 grams. Enrich Money CEO Ponmudi R attributed gold and silver losses to hotter-than-expected US inflation, dollar strength and renewed December rate-hike expectations, with silver retreating towards $50/oz. The late-week stabilisation did not establish a recovery; further weakness would depend on persistent selling, while renewed investment demand or dollar weakness could support a rebound.