Gold prices have eased ahead of Dhanteras and Diwali, offering some relief to Indian households preparing for festive purchases and the upcoming wedding season. However, uncertainty over global economic conditions has left buyers wondering whether to purchase gold now or wait for a further decline.

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On Wednesday, October 21, 2026, MCX gold was trading at Rs 1,45,898 per 10 grams, down 0.42% at around 11.30 am, according to market data cited by India Today. Silver futures also declined, trading at Rs 2,09,028 per kilogram, down 1.16%.

The recent weakness in gold prices comes amid rising crude oil prices and renewed concerns about inflation. Higher oil prices can complicate the outlook for interest rates, while investors are closely watching the US Federal Reserve’s upcoming policy decision for clues about the direction of borrowing costs. These factors can influence demand for gold and cause prices to fluctuate.

Market experts have cautioned that the recent fall does not necessarily mean prices have reached their lowest point. Technical indicators suggest that gold could face further pressure if key support levels fail to hold. However, a recovery remains possible depending on movements in oil prices, interest rate expectations and global investor sentiment.

For households planning jewellery purchases soon, buying in stages may help reduce the risk of committing the entire budget at an unfavourable price. Those with more flexibility can monitor market movements, although waiting for a deeper fall does not guarantee a better deal.

Buyers should also remember that MCX futures prices differ from retail jewellery rates. The final bill depends on the purity of gold, local prices, making charges and applicable taxes. Comparing final prices and checking hallmarking are important before purchasing.

Ultimately, the decision to buy now or wait depends on the timing of the purchase, budget and individual needs. No short-term price movement can reliably predict where gold will trade next.