NewsSignals AI analysis·CNBC TV18·Nov 3, 2026

Gold, silver prices correct ahead of Dhanteras: Will lower rates lift demand

Grade Abearish AI signal$XAU$XAG

Gold and silver prices extended their decline ahead of India's Dhanteras buying season, with MCX gold futures falling 1.65% and silver futures dropping 4.47% on November 3. A stronger US dollar, elevated bond yields and expectations of a possible December Federal Reserve rate hike are weighing on precious metals, while lower prices could encourage festive jewellery purchases. Further monetary tightening expectations could pressure gold and silver, although improved affordability may support physical demand during the Dhanteras and wedding seasons.

Bullish strength: 35/100

Lower prices could improve affordability and encourage Dhanteras jewellery purchases.
Festive gold jewellery demand on Amazon.in reached 2.5 times a regular shopping day.
Gold coin and pendant demand on Amazon.in reached three times regular-day levels.

Bearish strength: 65/100

MCX gold futures declined 1.65% and silver futures fell 4.47%.
Stronger US dollar and elevated bond yields are pressuring precious metals.
Expectations of a possible December Federal Reserve rate hike are adding selling pressure.
Jewellery volumes could decline approximately 10% despite festive demand.

This is automated NewsSignals analysis of third-party reporting, not independent original reporting or investment advice. AI scores are not price predictions.

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