If you walked into a jewellery store in Zaveri Bazaar or T Nagar today, you likely saw two things: a massive crowd of families preparing for weddings, and a surprising sense of relief on their faces. By all traditional logic, gold prices should be soaring right now. We are deep into the November-December Shubh Vivah (wedding) season, a time when Indian demand typically pushes global prices up.

Yet, the opposite is happening. As of today, November 22, 2025, gold prices have stabilized around ₹12,453 per gram (24K), following a sharp correction earlier in the week. This defies the usual seasonal trends, leaving many buyers confused: Is this a lucky break, or a trap?

The reason for this dip lies thousands of miles away. The strengthening of the US Dollar Index (DXY) and hawkish commentary from the US Federal Reserve have taken the shine off bullion globally. When the dollar gets stronger, gold which is priced in dollars becomes expensive for other nations, dampening global demand. Furthermore, with geopolitical tensions in Eastern Europe simmering down slightly this week, the "fear trade" that usually drives investors to gold has cooled off.

For the Indian consumer, however, this macroeconomic equation is a gift.

Market veterans are calling this the classic "buy-on-dip" zone. Analysts from major banks suggest that this price correction is temporary. The fundamental demand for gold remains robust. Central banks around the world are still buying gold to diversify their reserves, and the domestic wedding demand in India is projected to be record-breaking this year.

The consensus advice for today is simple: Don't get greedy waiting for the absolute bottom. If you have a wedding in the family scheduled for January or February 2026, booking your jewellery at current levels is a statistically sound financial decision.

For digital gold or ETF investors, this is an accumulation phase. History shows that gold prices often rally in December as liquidity returns to Western markets after the holidays. The current dip offers a rare entry point to hedge your portfolio against the inflation risks of 2026. The window to buy at these levels may close as soon as the dollar softens, which could happen in a matter of weeks.