Gold buying warning: Don’t buy yellow metal, further fall expected before Dhanteras, Diwali – Will festive demand trigger a bounce back?

Planning to buy gold for Dhanteras or Diwali? Hold your horses as HSBC cuts average price forecasts to USD4,490/oz. Check gold rates and market trends before buying.

Edited By: Joy Pillai

Published: October 3, 2026, 3:03 PM IST

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https://www.india.com/business/gold-buying-warning-dont-buy-yellow-metal-further-fall-expected-before-dhanteras-diwali-will-festive-demand-trigger-a-bounce-back-8532413/ Copy

Gold buying warning: Don’t buy yellow metal, further fall expected before Dhanteras, Diwali - Will festive demand trigger a bounce back? | Image: AI

Gold Buying Warning: Precious metals – gold and silver – have witnessed a significant fall from their record highs over the past few months and are expected to fall further in the coming weeks. If you are planning to buy the yellow metal before Dhanteras and Diwali, then hold your horses as there may be a further decline in the price of the precious metal. Both precious metals are facing pressure due to the current situation, causing their rates to fall significantly. According to HSBC, the pressure on gold may continue before Dhanteras.

HSBC Cuts Gold Price Targets

According to a report by Reuters, HSBC has reduced its estimate of the average price of the precious metal for 2026 after seeing mounting pressure on it.