After weeks of record-breaking gains, gold prices have suddenly plunged — their sharpest fall in 12 years. Global prices dropped over 5%, falling below $4,100 per ounce, while in India, rates slipped by ₹4,000 per 10 grams ahead of Diwali. Analysts say the correction is normal after a 50% annual surge. But despite the dip, major investors and central banks are doubling down. Global gold ETFs saw record inflows last month, and India’s central bank holdings have now crossed $100 billion. With global tensions, trade wars, and economic uncertainty rising, gold’s shine may fade briefly — but its long-term allure remains strong.
