Topic 4: BULLION PRICES: GEOPOLITICAL EFFECTS

October 2024 was characterized by significant volatility in gold prices driven by geopolitical tensions and economic indicators. While there were periods of price increases due to heightened demand for safe-haven assets, late-month adjustments reflected changing market sentiments and economic forecasts. The overall trend showed a decline in prices compared to earlier highs, with a recorded decrease of approximately 4.4% over the month. The silver prices were also volatile over the month of October due to geopolitical tensions, cultural festive demand due to Dhanteras, and industrial usage in electronics and solar panels. Prices increased notably leading up to the festival but saw some adjustments afterward, reflecting typical market behaviour surrounding significant buying events. At the beginning of October, silver prices were relatively stable, trading around ₹96,900 per kg in major Indian cities. On October 29, silver was priced at around ₹101,000 per kg in Delhi, reflecting increased festive buying activity. As the festivities ends, silver prices began to decline slightly towards the end of the month. By October 31, prices adjusted to approximately ₹97,900 per kg, reflecting some profit booking after the festival-related purchases. The overall trend showed that silver remained a favoured asset during periods of uncertainty and cultural significance.



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