Gold prices are expected to open lower on Wednesday after a 5.5% global decline — the steepest since 2020. Analysts predict domestic prices could fall to Rs 1.22–Rs 1.23 lakh per 10 grams, driven by profit-booking and easing global economic fears.

Mumbai: The rush for gold may slow down after Diwali, as the yellow metal is expected to open on a weak note in the domestic market on Wednesday.

This comes after international gold prices fell sharply by 5.5 per cent — the steepest decline since August 2020.

Analysts expect Indian gold prices to correct to around Rs 1.22–Rs 1.23 lakh per 10 grams when markets open on Wednesday.

The fall in global prices has triggered profit-booking among investors who had benefited from gold’s recent rally.

Silver too lost over 2 per cent, trading near $47

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