October 24, 2025: Gold Dips After Festive Surge, Silver Remains Strong; See Rates in Your City

Gold and Silver Prices are Expected to Fluctuate Amid Geopolitical Tension and the Much-Anticipated Meeting Between US and Chinese Presidents.

Gold and silver prices in India are taking a breather after a record-breaking run through the festive weeks. On October 24, retail rates for both gold and silver dipped slightly across major cities. Analysts say market correction and global cues drove the decline.

Today’s Gold Price

The price of gold in India today stands at Rs 12,507 per gram for 24-karat, Rs 11,464 per gram for 22-karat, and Rs 9,380 per gram for 18-karat gold.

In each category (18K, 22K, and 24K), gold prices have slipped by Rs 1 per gram compared to yesterday’s levels.

Following is the list of gold and silver prices in major Indian cities

Gold in Delhi remains slightly costlier than in other cities, reflecting local demand and transport premiums, while silver continues to command higher rates in southern cities like Chennai and Hyderabad.

Domestic Futures on MCX

Gold and silver prices edged lower on the MCX Friday morning (October 24), as investors turned cautious ahead of a crucial US inflation report due later in the day.

At 9:06 a.m. IST, MCX Gold December futures were down 0.44 percent at Rs 1,23,552 per 10 grams, while Silver December contracts slipped 0.98 percent to Rs 1,47,052 per kg. 

Despite the dip, gold remains up over 50 percent so far this year, driven by persistent trade tensions and expectations around next week’s meeting between US President Donald Trump and Chinese President Xi Jinping.

Highlights & Implications

Globally, spot gold fell 0.2 percent to $4,118.68 per ounce at 03:15 GMT, heading for its first weekly loss in ten weeks. The metal is down 3 percent this week, its steepest drop since mid-May, as the dollar strengthened for a third straight session, making gold costlier for holders of other currencies.

Meanwhile, spot silver fell 0.6 percent to $48.62 per ounce and is down nearly 6 percent for the week, its sharpest weekly drop since March, according to reports.

After record highs that saw gold cross Rs 1.27 lakh per 10 g and silver surge above Rs 1.70 lakh per kg, October 24 marks a cooler day for metals. For now, the message to buyers is simple: check your city’s rates, compare before buying, and watch global cues before making big purchases.

Expert’s View

“Gold prices fell on Friday, on track to end its nine-week winning streak, pressured by heavy selling after repeatedly hitting record highs in recent sessions. The yellow metal dropped more than 5% early in the week, marking its largest intraday loss in five years. The decline coincided with significant withdrawals from gold-backed ETFs, which saw their largest single-day drop in holdings by tonnage in five months,” said Jigar Trivedi, Senior Research Analyst at Reliance Securities.

Geopolitical Tension as Key Contributor

“Geopolitical risks also persisted after the US imposed new sanctions on Russia in an attempt to pressure Moscow for a Ukraine ceasefire. Meanwhile, expectations that the Federal Reserve could deliver two more rate cuts by year-end continued to support bullion. Investors are now focusing on the key CPI report later today, which could influence the monetary policy outlook,” said Trivedi.

Trivedi expects the MCX gold price for December expiry to drop to Rs. 1,23,000 per 10 grams as the undertone in the global markets is weak.

Market focus is now looking at the US Consumer Price Index (CPI) data, which is expected to show core inflation steady at 3.1 percent in September. The release had been delayed due to a temporary government shutdown.

Traders have already priced in a 25-basis-point rate cut at the Federal Reserve’s upcoming meeting. Lower interest rates tend to support gold by reducing the opportunity cost of holding the non-yielding metal.

Experts recommend monitoring international market movements and domestic demand, which are expected to influence precious metal trends in the coming days.