News by CNBC TV18 on TradingView, 2026-11-03 — cnbctv:0b88666f2094b:0 - TradingView

AI desk brief

Article summary

Gold and silver fell ahead of Dhanteras on November 3, with MCX December 4 futures down 1.65% to ₹1.37 lakh per 10 grams and 4.47% to ₹1.75 lakh per kg, respectively. Analysts attributed weakness to tighter US policy expectations, dollar strength and elevated bond yields; Augmont’s Renisha Chainani envisaged possible tests of $3,900/oz gold and $50/oz silver, with central-bank buying and strong gold ETF holdings potentially limiting downside. Kama Jewelry’s Colin Shah expected jewellery demand value broadly unchanged year on year but volumes around 10% lower, despite Amazon reporting gold jewellery demand at 2.5 times regular-day levels and silver jewellery nearly twice normal. The article distinguishes physical, digital and fund-based gold exposure by costs, storage, redemption terms and intended use.

Market implications · analysis

The reported futures declines and prospective jewellery-volume contraction suggest near-term pressure, although cheaper prices could stimulate festive purchases. Tighter policy expectations could weigh on gold if expected real yields rise; nominal bond yields alone do not establish that channel. Amazon’s promotional-period comparisons do not establish aggregate Indian demand growth, and cited ETF holdings do not demonstrate fresh inflows. Near-term bullion direction remains mixed; confidence is limited by unquantified macro drivers and incomplete physical-demand evidence.