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New Delhi, October 25: On Saturday, October 25, gold prices in India remained largely steady but continued to reflect weakness after a post-Diwali correction. Prices stood at INR 12,436 per gram for 24-karat gold, INR 11,399 for 22-karat, and INR 9,327 for 18-karat. Across major cities, rates showed little variation — Chennai recorded INR 12,436 per gram for 24-karat gold, while Delhi saw a marginal rise to INR 12,451. Mumbai, Kolkata, Bengaluru, Hyderabad, and Kerala mirrored the national average, indicating price stability amid global fluctuations. After nine consecutive weeks of gains, gold is now headed for its first weekly loss. As per Bloomberg, global gold prices slipped to around USD 4,112 per ounce on October 24, marking a weekly drop of nearly 3 percent — the sharpest since May. Gold Rate Today, October 24: Gold Price Dips From Historic Highs Amid Global Selling Pressure, Check Prices of Yellow Metal in Mumbai, Delhi, Chennai, Kolkata and Other Metro Cities. Post-Diwali Drop Despite Mild Rebound After Diwali, gold prices witnessed a notable correction as festive demand tapered off and profit-booking emerged. Though prices showed a slight rebound over the past two sessions, the overall trend remains downward. Commodity experts said the festive buying had already been priced in, and global cues have since turned negative, weighing on bullion. Gold Found Again in Banswara: Third Major Mine Confirmed in Rajasthan’s Kankariya Village, 222 Tonnes of Gold Ore Estimated. Trade Optimism Weakens Safe-Haven Appeal The recent decline stems from renewed optimism over a possible breakthrough in the US-China trade standoff. A scheduled meeting between US President Donald Trump and Chinese Premier Xi Jinping has boosted investor confidence, reducing the appeal of gold as a safe-haven asset. Improved risk appetite and easing geopolitical anxiety have prompted investors to shift back to equities and bonds. Stronger Dollar, Profit-Taking Drive Correction A strengthening US dollar and profit-taking after record highs have further pressured prices. Darshan Desai, CEO of Aspect Bullion & Refinery, noted that “stretched valuations and renewed trade optimism” are behind gold’s first meaningful pullback in over two months. On the Multi Commodity Exchange (MCX), December gold futures hovered around INR 1.23 lakh per 10 grams on Friday, while silver traded near INR 1.47 lakh per kilogram. Analysts say the recent slide is a short-term correction rather than a reversal of the broader bullish trend. They expect volatility to continue in the near term, but sustained central bank buying and potential rate cuts by the US Federal Reserve are likely to keep long-term sentiment positive. Upcoming US inflation data and Fed commentary will be crucial in determining gold’s next direction.
