Mumbai: Gold prices dropped on Friday, October 24, as traders turned cautious ahead of an important US inflation report expected later in the day. On the Multi Commodity Exchange (MCX), gold December futures were down 0.44 percent at Rs 1,23,552 per 10 grams around 9:06 a.m. Silver December futures also slipped 0.98 percent to Rs 1,47,052 per kg at the same time. Read Also Gold Prices Crash Below ₹1.26 Lakh, Biggest Drop In 12 Years – Should You Buy Or Wait?

Pressure After Record Highs

The yellow metal has seen heavy selling this week after repeatedly touching record highs in recent sessions. Prices have dropped more than 5 percent early in the week, marking gold’s biggest intraday fall in five years. Despite this drop, gold is still up over 50 percent so far this year, supported by

See Full Page