Money Moves
Gold Picked Diwali Week To Crash. Muhurat Timing.
The Take
Families saved all year to buy gold this Diwali. The metal picked the festival week to crash, per Livemint and NDTV. Prices fell sharply ahead of Dhanteras, the biggest buying day of them all. The jewellery stayed beautiful. The receipts got shorter. The auspicious hour now runs at a discount.
The Wire
Gold and silver prices crashed ahead of Dhanteras and Diwali, Livemint and NDTV report, with both metals sliding sharply in the festival's biggest buying week. The Federal notes the drop caught buyers and jewellers off guard during the traditional purchase window. Retail rates now sit well below last week's marks as the auspicious buying hours begin.
The receipts
Source: Livemint