Gold price today!

Gold prices on the MCX slipped on Friday (October 24) ahead of a key US inflation report due later in the day. December gold futures fell 0.44% to ₹1,23,552 per 10 grams around 9:06 a.m. IST, while silver futures for December delivery declined 0.98% to ₹1,47,052 per kg.

According to Jigar Trivedi, Senior Research Analyst at Reliance Securities, gold is set to end its nine-week winning streak, pressured by heavy selling after recent record highs. The metal dropped over 5% earlier this week, marking its biggest intraday loss in five years, alongside the largest ETF outflows in months. He expects MCX gold to test ₹1,23,000 amid weak global sentiment.

Globally, spot gold eased 0.2% to $4,118.68 per ounce and was heading for its steepest weekly loss since May, weighed down by a stronger dollar. Analysts said investors are awaiting the US Consumer Price Index (CPI) report, expected to show core inflation at 3.1%. Experts noted that gold may find support at ₹1,22,980–₹1,23,670 and resistance at ₹1,24,950–₹1,25,800, with geopolitical tensions and rate-cut expectations shaping near-term trends.