From NDTV
Center-Right Owned by Adani Group (AMG Media)Gold Extends Drop On Stronger-Than-Expected US Employment Data
What's behind this
Spot gold fell 0.6% to $4,063.47 an ounce in New York after stronger‑than‑expected US employment data, extending its recent drop. The Dhanteras festival on November 6 is considered an auspicious time for buying gold and silver, with shoppers in New Delhi advised to check the gold‑buying muhurat. Jewellery shops in areas such as Punjagutta, Somajiguda and Abids reported heavy footfall as buyers mix tradition with investment. While one report says the decline in gold price is boosting jewellery sales on Dhanteras, another notes that rising prices, with 22‑carat gold at ₹1,31,500 for 10 grams, are dampening sales.
AI-generated overview from 5 outlets. It summarises their reporting and adds no reporting of its own.
What each side is saying
One outlet's own words from each side of the spectrum. Quoted, not summarised.
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right · 2 outlets
India's organised gold jewellery retailers are expected to see a slower decline in sales volumes this fiscal, with revenue projected to grow 21-23 per cent despite elevated gold prices, while their credit profiles are likely to remain resilient on the back of healthy cash flows and controlled…
RSS excerpt
Spot gold fell0.6%to $4,063.47an ounce as of 4:17 p.m. in New York.
