Tue Oct 21 20:50:00 UTC 2025: Okay, here’s a summary of the text, followed by a rewritten version as a news article:

Summary:

On Diwali, October 21, 2025, gold prices in India experienced a significant drop on the Multi Commodity Exchange (MCX). Gold futures fell to ₹128,000 per 10 grams, a 2% drop from the morning session, and silver futures also declined. This downward trend is attributed to profit-taking after a Diwali-fueled rally, a stronger US dollar, and US-China trade tensions. Global spot gold and silver prices also fell sharply. Analysts suggest prudent risk management and awareness of volatility are crucial in the current market.

News Article:

Diwali Dips: Gold Prices Plunge on MCX Amid Profit-Taking

Mumbai, October 21, 2025 – The festive glow of Diwali was dimmed for gold investors today as prices on India’s Multi Commodity Exchange (MCX) experienced a sharp downturn. Gold futures for December 2025 delivery crashed to ₹128,000 per 10 grams, a 2% dip during the morning session. By late afternoon (3:28 PM IST), the contract was trading at ₹128,000, a decrease of ₹271 from the previous close.

Silver followed suit, with December 2025 futures dropping ₹327 per kilogram to ₹150,000.

The sell-off is attributed to investors cashing in on profits after a recent rally spurred by Diwali demand. A strengthening US dollar and ongoing trade tensions between the United States and China are also contributing factors. Earlier trading saw gold hit lows of ₹1,27,320 per 10 grams.

Globally, spot gold prices tumbled 6.3% to $4,082.03 per ounce, while spot silver plummeted 8.7% to $47.89 per ounce, according to Bloomberg. Comex gold futures also saw a significant decline, falling 5.66% to $4,112.70.

“Gold continues to be a compelling hedge and portfolio diversifier, but prudent risk management and awareness of volatility are essential to navigate the current market phase,” cautioned Ross Maxwell, Global Strategy Lead at VT Markets. He suggested that sustaining a rally near the $4,000 – $4,400 per ounce range could be challenging, but noted that broader bullish drivers for gold prices remain.

Analysts advise investors to exercise caution and consult with financial experts before making any investment decisions in the current volatile market.

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