Rates crash: Gold price slips 7%, silver tanks 20% in Oct: Is Dhanteras 2026 right time to buy? What should investors do - Livemint

AI desk brief

MCX gold fell about 7% in October and silver nearly 20%, taking both well below their January 2026 highs; on Monday, 2 November, both rebounded as global bullion markets stabilised ahead of Dhanteras/Diwali, with December gold around ₹1,39,065-₹1,39,179 per 10 grams and silver around ₹1,81,611-₹1,82,701 per kg. Analysts blame the sell-off on higher US rate expectations, elevated crude oil and broad commodity weakness, with gold support seen near ₹1,38,250 per 10 grams and silver near ₹1,78,800 per kg.