Gold Buying Warning: Gold and silver prices have moved down significantly from their recent record highs, putting investors and festive-season buyers on alert. Those planning to purchase gold for Dhanteras or Diwali may want to keep an eye on the market, as prices could face further pressure in the coming weeks.
According to HSBC, the decline in gold may continue ahead of Dhanteras. The precious metal market is currently facing pressure, which has contributed to the recent fall in prices.
HSBC Lowers Gold Price Forecast
According to a Reuters report, HSBC has lowered its estimate for the average price of gold in 2026 after assessing the increasing pressure on the precious metal.
The bank has cut its forecast for the average 2026 gold price to USD 4,490 per ounce.
The revised outlook comes after gold and silver experienced a significant decline from their previous record levels. The latest forecast has therefore attracted attention among those planning to buy gold during the upcoming festive season.
Should Buyers Wait Before Dhanteras?
Dhanteras and Diwali traditionally see increased interest in gold purchases, making the timing of the latest price movement particularly important for prospective buyers.
With HSBC expecting continued pressure on gold before Dhanteras, prices could remain under pressure in the near term. However, the actual movement in gold prices will depend on market conditions.
For people planning to purchase gold for Dhanteras or Diwali, keeping track of the latest gold rates and market trends may be important before making a buying decision.
Disclaimer: This article is intended for general informational purposes only and is based on the information provided, including the forecast attributed to HSBC and the Reuters report. Gold and silver prices can change due to market conditions and other factors. The information should not be considered investment advice. Readers should check the latest market prices and consult a qualified financial adviser before making investment decisions.