gold rate Gold prices have witnessed a sharp correction this week, falling over ₹4,000 per 10 grams from their recent record high. The dip comes as global investors turn cautious amid a stronger U.S. dollar and rising bond yields. On the Multi Commodity Exchange (MCX), gold futures were trading near ₹69,800 per 10 grams — a notable slide from the ₹74,000 mark seen earlier this month.
Analysts say the correction was long overdue, considering the steep rally seen over the past few months. “Profit booking and easing geopolitical tensions have triggered selling pressure in bullion,” market experts noted. However, long-term investors still view gold as a stable hedge against inflation and economic uncertainty.
For retail buyers, this decline could present a fresh buying opportunity ahead of the wedding and festive season. Traders advise staggered purchases rather than bulk buying, as prices may remain volatile in the near term depending on U.S. Federal Reserve policy cues and global risk sentiment.
