Gold Below ₹1.5 Lakh: Should You Buy Now or Wait for Prices to Fall Further?
Gold prices have slipped below ₹1.5 lakh per 10 grams on MCX, offering potential relief to festive and wedding-season buyers. However, US inflation data, interest rate expectations and geopolitical tensions could influence the next move.
Gold prices remained below ₹1.5 lakh per 10 grams on Tuesday, putting festive and wedding-season buyers in a familiar dilemma: buy now or wait for a deeper correction.
At 1 pm, MCX gold traded at ₹1,49,621 per 10 grams, while silver stood at ₹2,22,950 per kg. Market direction remains sensitive to US inflation data, Federal Reserve policy expectations and geopolitical developments.
Augmont Chief Research Officer Renisha Chainani said easing oil prices supported precious metals, but investors were watching US inflation figures for clues about interest rates. Stronger inflation could increase expectations of higher rates and put pressure on gold.
Chainani identified a potential buying range of ₹1,48,000–₹1,49,000 for gold. She said a sustained move above ₹1,50,000 could face resistance, while further declines remained possible if inflation surprised markets. These are technical levels, not guaranteed price targets.
Enrich Money CEO Ponmudi R placed immediate MCX support at ₹1,47,300–₹1,48,000, followed by ₹1,45,300–₹1,46,000. Resistance lies around ₹1,50,000–₹1,50,700.
Should buyers wait?
People purchasing jewellery for an upcoming wedding may consider spreading purchases across multiple dates instead of trying to predict the market bottom. Investment buyers can monitor inflation data and price movements while considering their risk tolerance and investment horizon.
Jewellery buyers should also compare making charges, check hallmarking and review buyback terms. The final bill includes costs beyond the gold rate.
A further price fall is possible, but not certain. The decision ultimately depends on when the gold is needed and the buyer’s financial priorities.
