Gold Price Today (February 24, 2025): Yellow metal stays near record high as MCX gold trades firm, key US data in focus

Gold price today (February 24, 2025): Gold prices in India remained firm on Monday, continuing their upward momentum as global cues supported the rally. On the Multi Commodity Exchange (MCX), gold futures traded at Rs 86,069 per 10 grams, up 0.07 percent, while silver saw mixed movement across key cities.

City wise Gold and silver price today (February 24, 2025)

As of 11 AM, gold rates across major Indian cities were:

Silver was priced at Rs 1,01,000 per kg in Delhi, while Chennai commanded a premium at Rs 1,08,000 per kg.

MCX gold trends firm, international markets in focus

On the MCX, gold futures continued to hold steady, tracking global trends. Analysts expect further upside if demand remains strong amid economic uncertainties.

Globally, spot gold was up 0.1 percent at $2,939.15 per ounce as of 0444 GMT, inching closer to its record high of $2,954.69 per ounce touched last Thursday. Meanwhile, US gold futures remained unchanged at $2,953 per ounce. The recent dip in the US dollar has provided support for gold prices, making the metal more attractive to investors.

Key factors driving gold prices

Market participants are closely watching the upcoming US Personal Consumption Expenditures (PCE) report, the Federal Reserve’s preferred inflation measure, due on Friday. A higher-than-expected reading could influence Fed policy and impact global gold prices.

Trade tensions have also played a role in gold’s resilience. Last week, former US President Donald Trump reiterated his stance on imposing fresh tariffs on multiple sectors, pushing investors toward safe-haven assets like bullion.

Outlook for gold

With key inflation data expected and global trade tensions persisting, gold is likely to maintain its firm footing. However, if the Federal Reserve signals a hawkish stance, it could limit further gains. Traders will be closely monitoring market cues to assess the next move for the precious metal.