Gold rates today (November 8, Saturday): What should buyers and investors know?

Gold rates in India showed a slight correction on November 8 (Saturday), offering a window for strategic buying.

Current gold prices per gram:

• 24K gold rate: ₹12,202
• 22K gold rate: ₹11,185
• 18K gold price: ₹9,152

City-wise gold prices:

• Chennai: ₹12,328 (24K), ₹11,300 (22K), ₹9,425 (18K)
• Delhi: ₹12,217 (24K), ₹11,200 (22K), ₹9,167 (18K)
• Mumbai, Kolkata, Bengaluru, Hyderabad, Kerala, Pune: ₹12,202 (24K), ₹11,185 (22K), ₹9,152 (18K)

Why gold rates dipped this week

Gold prices have dropped by over 10% from their recent highs, signalling a correction phase. Analysts attribute this fall to short-term global market movements.

Reasons behind the fall in gold prices:

• Profit booking: Large investors are selling after earlier price surges.
• Stronger US dollar: A firm dollar and high US Treasury yields have reduced gold’s appeal.
• Federal Reserve stance: A cautious approach despite small rate cuts continues to weigh on gold.
• Reduced geopolitical risk: Calmer global conditions, including a Gaza ceasefire, have eased safe-haven demand.

Expert advice for gold buyers and investors

Analysts describe this phase as a healthy correction, not a downturn. The long-term outlook for gold remains strong due to inflation concerns, central bank buying, and geopolitical tensions.

For new buyers

• Use the dip wisely: Treat the fall in gold rates as a buying opportunity.
• Avoid timing the market: Invest gradually or through gold SIPs to spread risk.
• Think long term: Use gold to diversify and protect against inflation rather than for quick profits.

For existing investors

• Hold your investments: Retain gold holdings amid strong fundamentals.
• Book partial profits: If sitting on gains, consider partial exits when prices peak again.

Smart ways to invest in gold

Experts advise focusing on investment-grade gold rather than ornaments.

• Limit allocation: Keep gold to 15–20% of your total investments.
• Opt for digital or paper gold: Choose Gold ETFs or Sovereign Gold Bonds (SGBs) for easier management.
• Avoid jewellery for investment: Making charges and resale losses reduce returns.
• Check costs: Ensure transparent pricing and avoid paying excessive premiums.

Outlook: gold remains a strong wealth safeguard

Even with the recent dip, gold continues to serve as a reliable store of value. Experts believe a disciplined and diversified approach—especially through ETFs and SGBs—will help Indian investors balance their portfolios as gold rates stabilise.

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