Gold has corrected more than 26% from its record high in January 2026, with spot gold at $4,145.22 an ounce, and Indian households are shifting toward lighter jewellery, coins, bars and ETFs during the festive season. Traders were pricing an 82% chance the Federal Reserve holds rates at its October 27–28 meeting, but an 89% chance of a hike in December. Net inflows into gold ETFs reached 2,596.70 crore rupees in August, while India's gold imports fell 45% from July to $2.3 billion. According to Rajeev Sharan of Brickwork Ratings, 24-karat gold traded near 1.48 lakh rupees per 10 grams, and high US rates are expected to limit any sharp near-term rally to around 5% either way.
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Original headline: Gold price outlook : Yellow metal prices cool 26 % from record high : What are Indians buying this Dussehra , Diwali ?
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Related tickers and likely impact
PAXG/USDT
• NeutralPAX Gold
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Real-world assets |
| Market cap | $1.8B |
| Close on 10/19/2026 | 4,133.66 |
| Change that session | -1.08% |
XAUT/USDT
• NeutralTether Gold
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Real-world assets |
| Market cap | $3.4B |
| Close on 10/19/2026 | 4,134.00 |
| Change that session | -1.05% |
XAU/USD
• NeutralRelevance: low
| Market | Gold |
|---|---|
| Close on 10/19/2026 | 4,140.75 |
| Change that session | -0.60% |
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