Gold faced downward pressure as the main indexes of Wall Street began on a higher note, thereby reducing the demand for the safe-haven and non-interest-bearing asset.
Gold Price Latest News: As the nation gears up to celebrate the auspicious festival of Karwa Chauth on November 1, a day prior has brought a silver lining for gold shoppers. The price of gold, a treasured commodity for many Indian households, has witnessed a notable decrease on the eve of Karwa Chauth, providing some respite to those planning to purchase gold jewelry for their beloved wives on this special occasion when married women fast for the long life of their husbands.
Earlier in the week, it was reported that the US GDP in Q3 (advance estimate) grew at 4.90% on an annualised basis, which topped the forecast of 4.50%. Similarly, durable goods orders and pending home sales were better than estimates, thus the US data continue to throw upside surprises.