Gold Prices Today, October 24: Yellow Metal Cools After Festive Highs, Silver Holds Steady

Mumbai, 24 October 2025: Gold prices in India eased on Friday following a strong festive rally, mirroring global market trends amid a firmer US dollar and profit booking. The 24-karat (24K) gold rate declined to ₹12,507 per gram, while silver held largely steady near ₹1.59 lakh per kilogram.

Gold Prices Ease to ₹12,507/Gram as Global Correction Weighs on Bullion

After reaching record highs during the festive week, gold prices corrected as international bullion markets witnessed a pullback. The appreciation of the US dollar index and easing of safe-haven demand following subdued geopolitical tensions led to a softening in prices. Domestically, the 24K gold price stood at ₹12,507 per gram in Mumbai and ₹12,602 per gram in Delhi, while 22K gold traded around ₹11,464 per gram in Mumbai and ₹11,479 per gram in Delhi.

The moderation reflects a classic post-festive adjustment as traders realigned positions after heightened demand during Navratri and Dussehra. Analysts noted that the festive surge had already factored in higher spot demand, leaving room for minor profit-taking this week.

Silver Prices Hold Near ₹1.59 Lakh/Kg Amid Industrial Demand Resilience

While gold corrected slightly, silver prices showed greater stability, supported by consistent industrial demand. As per market data, silver hovered close to ₹1,589 per 10 grams across major Indian cities, with Hyderabad recording a marginally higher rate of ₹1,739 per 10 grams.

The resilience of silver stems from strong consumption by the solar and electronics industries, where ongoing manufacturing expansion and infrastructure projects continue to sustain demand. This demand strength has offset the broader decline seen in global bullion.

Futures Trading Sees Gold Near ₹1.24 Lakh/10g and Silver at ₹1.49 Lakh/Kg

On the Multi Commodity Exchange (MCX), gold futures for December 2025 delivery traded close to ₹1.24 lakh per 10 grams, reflecting traders’ cautious stance amid shifting global cues. Similarly, silver futures hovered around ₹1.49 lakh per kilogram, marking a narrow range of movement compared to earlier weeks.

This stabilisation in futures contracts points to an adjustment phase where traders await further clarity from global economic indicators—particularly inflation and interest rate projections from the US Federal Reserve (Fed) that influence gold’s global appeal as an inflation hedge.

Global Gold at $4,100/Oz as Dollar Strength Triggers Profit Booking

In global markets, spot gold traded near $4,100 per ounce, while silver ranged between $48 and $49 per ounce. The correction follows a multi-week rally driven by inflation concerns and geopolitical uncertainties. However, as the US dollar gained strength ahead of crucial US inflation data, investors booked profits, causing the yellow metal to cool off from recent highs.

Despite the temporary dip, bullion continues to be underpinned by long-term uncertainties in global growth and central bank rate expectations. Experts suggest that gold’s correction phase reflects a natural consolidation after an extended rally rather than a fundamental shift in sentiment.

Domestic Demand Likely to Keep Gold Firm Despite Global Headwinds

The Indian gold market remains anchored by strong retail and festive demand, which typically supports prices even during global corrections. Seasonal purchases for Diwali and wedding festivities are expected to maintain steady consumption in the near term.

Meanwhile, silver demand is expected to remain supported by its dual role as both a precious and industrial metal, driven by expanding renewable energy investments and manufacturing output. This trend is likely to cushion any sharp downside in domestic silver prices.

Gold prices in India have moderated after a festive surge, reflecting global corrections and a stronger dollar. Silver remains steady, supported by industrial demand. While near-term volatility may persist, domestic festive and industrial consumption trends continue to shape the broader direction of precious metals in the Indian market.

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