Gold Price Today (October 23, 2025):
Gold prices surged in the Indian market, supported by hopes of a potential US–India trade deal and growing expectations of further Federal Reserve rate cuts. On the Multi Commodity Exchange (MCX), December gold futures climbed 0.89% to ₹1,22,938 per 10 grams, while silver futures rose 0.93% to ₹1,46,915 per kg in early morning trade on Thursday.
MCX Gold and Silver Price Update
At around 9:08 AM IST, MCX Gold December futures were trading near ₹1.23 lakh per 10 grams, marking a solid rebound after a short pullback earlier this week.
Silver December contracts also gained momentum, rising close to ₹1.47 lakh per kilogram.
According to Jigar Trivedi, Senior Research Analyst at Reliance Securities,
“MCX gold price for December expiry may trade in a range of ₹1,21,500 to ₹1,23,000 per 10 grams.”
Global Gold Market Update
In the international market, spot gold dipped 0.2% to $4,084.29 per ounce due to a stronger US dollar, while US gold futures for December delivery increased 0.9% to $4,100.90 per ounce, according to Reuters.
The US dollar index advanced by 0.2%, making gold costlier for investors holding other currencies.
Despite a mild decline, gold prices remain up nearly 56% in 2025, driven by central bank buying, rate cut expectations, and global economic uncertainties.
Expert Views on Gold Price Outlook
Jigar Trivedi highlighted that optimism around a potential US-China trade deal has slightly reduced gold’s safe-haven appeal, leading to short-term volatility. However, gold remains one of the top-performing assets this year, buoyed by expectations of two more Fed rate cuts by the end of 2025.
Gold tends to perform better when interest rates fall, as the opportunity cost of holding the metal decreases.
Technical Outlook
According to Rahul Kalantri, VP Commodities at Mehta Equities Ltd,
“Gold has support at ₹1,21,070–₹1,20,580 and resistance at ₹1,22,350–₹1,23,000 on MCX. Silver has support at ₹1,44,350–₹1,43,450 and resistance at ₹1,46,850–₹1,47,780.”
He further noted that profit booking after record highs and easing seasonal demand in India have led to short-term corrections, though the broader uptrend remains intact.
Investor Sentiment and Strategy
Colin Shah, MD of Kama Jewelry, believes the recent pullback is a temporary price correction after a strong rally.
“Investors should view this dip as a buying opportunity. Long-term fundamentals for gold remain strong amid global inflation and economic uncertainty.”
He added that Indian consumers are likely to take advantage of the lower prices ahead of festive and wedding season demand, which could further support domestic prices.
Summary
| Parameter | Details |
|---|---|
| MCX Gold Price (Dec Futures) | ₹1,22,938 per 10 grams |
| MCX Silver Price (Dec Futures) | ₹1,46,915 per kg |
| Global Spot Gold | $4,084.29 per ounce |
| YTD Gold Performance (2025) | +56% |
| Gold Outlook | Positive with short-term volatility |
| Analyst View | Buy the dip for long-term investors |
⚠️ Disclaimer
The views and recommendations mentioned above are those of individual analysts and brokerage firms. Investors are advised to consult certified financial experts before making any investment decisions.
