Gold prices likely to fall further ahead of Dhanteras and Diwali

Gold prices are expected to decline further in the near term, according to analysis from major global banking institutions. HSBC Bank has indicated that gold faces significant downward pressure at the international level, suggesting additional price weakness is likely before the Dhanteras and Diwali festival period.

The forecast comes as traders and investors monitor gold's performance ahead of what is traditionally one of the year's most significant shopping periods for jewellery and precious metals in India. Dhanteras and Diwali typically see heightened demand for gold purchases, making the timing of the anticipated price movements particularly relevant for Indian consumers and jewellers.

The predicted decline reflects broader global market dynamics affecting the precious metal. HSBC's assessment suggests that current market conditions are not supportive of price appreciation, with multiple headwinds continuing to weigh on gold in international markets.

Investors and consumers planning to purchase gold during the festive season may want to monitor price movements closely, as the anticipated weakness could present opportunities for those looking to make purchases before or during the Dhanteras-Diwali period.