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Gold and silver saw slight dips on 10/11, while platinum and palladium saw more substantial falls in value.
The small business optimism index, which is compiled from a monthly survey, fell 0.3 points in September. This marks the second consecutive monthly decline. Job openings are shown to be strong, though small businesses are having trouble filling them. On a positive note, there was a 5 point increase in the net percentage of business owners expecting higher sales volumes.
Between January and September, India’s gold imports declined by 58.96 percent. This is likely due to a strike by jewellers and a 10 percent custom duty on imports. The duty has also increased the rate of gold smuggling. However, D.S. Rawat, Secretary General of Assocham, says the outlook for gold remains upbeat.