Gold and silver prices today, October 24: Gold loses shine after Diwali rally, silver steady; check prices in Delhi, Mumbai, Chennai, and more

After last week’s highs, gold slips to around Rs 12,500 per gram and silver hovers near Rs 1.59 lakh per kg—see how much it costs where you live

After a record-breaking run through the festive weeks, gold and silver prices in India are taking a breather. On October 24, retail rates dipped slightly across major cities, tracking a correction in global bullion and a stronger US dollar.

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.

After days of sharp swings, gold prices have edged lower again, each category (18K, 22K, and 24K) has slipped by Rs 1 per gram compared to yesterday’s levels.

If you’re planning to buy jewellery or invest in coins, here’s how much you’ll pay today in your city.

Gold in Delhi remains slightly costlier than in Mumbai, 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, supported by persistent trade tensions and expectations around next week’s meeting between US President Donald Trump and Chinese President Xi Jinping.

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.

Global market snapshot

Market focus is now firmly on 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.

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.