MCX gold sees 2.5% drop in 1 week ahead of Diwali

Gold prices continued to decline over the week, with December-expiry MCX gold futures falling 2.5%. The decline came as rising energy prices and persistent inflation concerns reinforced expectations that US interest rates would remain elevated for longer. For Indian investors, the fall in precious metal prices has presented an opportunity to invest in gold ahead of Diwali and Dhanteras.