Gold Prices Drop ₹8,000 in One Month — Is Now the Best Time to Buy? Experts Share Their Outlook

Gold has always been a safe-haven asset for Indian households — especially during the festive and wedding season. However, the precious metal has seen a sharp dip lately, prompting a big question among investors and jewellery buyers: Is this the right time to buy gold?

Over the past month, gold prices in India have fallen significantly on the Multi Commodity Exchange (MCX). Despite high seasonal demand, investor sentiment remains cautious due to global economic uncertainties and currency volatility.

Here’s a detailed expert-backed analysis to help you decide whether you should buy gold now or wait for further correction.

Gold Prices Down by Over ₹8,000 from October High

According to MCX data, gold prices touched a record high of ₹1,32,294 per 10 grams in October 2025. Since then, they have corrected by ₹8,099, falling to ₹1,24,195 per 10 grams as of 21 November 2025.

On Friday, gold closed almost flat at ₹1,24,195 per 10 grams — barely changed from the previous close of ₹1,24,191. This stagnant movement indicates a period of consolidation after recent volatility.

Why Are Gold Prices Falling? Key Factors

Experts highlight several influential reasons:

✔ Weak Rupee – The Indian currency dropped to a new low of ₹89.43 per USD, impacting gold import costs
✔ Uncertainty on India-US trade developments
✔ Reduced expectations of US Federal Reserve rate cuts in December
✔ Mixed signals from global gold markets

Even though wedding season demand is strong, investment-driven demand remains soft due to global economic concerns.

Market Sentiment: Strong Demand, Cautious Buyers

Aksha Kamboj, Vice President of the Indian Bullion and Jewellers Association (IBJA), noted that festive and wedding purchases have supported mild price recovery. However, this rise is driven more by buyer sentiment than by strong investment trends.

She added that both jewellery buyers and investors are opting for small but steady purchases rather than making big commitments, showing uncertainty about future price movements.

Will Gold Get Short-Term Support?

Sugandha Sachdeva, Founder of SS WealthStreet, believes that gold has been trading within a range of ₹1,18,000 to ₹1,28,000 per 10 grams since mid-October. Macro-economic developments are keeping prices volatile.

Key triggers ahead include:

• US Federal Reserve December 9–10 meeting

• US retail sales data

• PCE price index trends

• Dollar index movement

• Performance of the Indian rupee

Sachdeva also pointed out that the dollar index is facing resistance near 100.50, which could limit dollar strength and lend support to gold in the short term.

Can Gold Rally Again? What Analysts Predict

Ross Maxwell, Global Strategy Lead at VT Markets, believes gold has the potential to move upward again — but nothing is guaranteed.

He recommends:

✔ Keep a 5–10% allocation in portfolios
✔ Use dips as buying opportunities, especially when real yields weaken
✔ Avoid short-term speculative trades for quick profits

Gold remains a strong hedge against inflation and economic uncertainty.

Should You Buy Gold Now? Expert Buying Strategy

Technical levels suggest:

📉 Strong support at ₹1,21,700 per 10 grams
📈 Key resistance at ₹1,28,000 per 10 grams

If prices break above ₹1,28,000, Sachdeva expects gold could move toward new record highs.

So for buyers:

✔ Good opportunity to accumulate on dips
✔ Ideal for long-term wealth creation
✔ Monitor global economic cues closely

In short — cautious optimism is the theme.

Bottom Line

Gold becoming cheaper by ₹8,000 in just a month has opened a window for strategic buying, especially for long-term investors and wedding shoppers. However, global cues and domestic currency movement will decide the next direction.

Experts say: Don’t rush — buy gradually and stay informed.