MCX Gold Rate Today: Check City-wise 24K, 22K Gold & Silver Rates, Comex Fall as Middle East Tensions Lift Oil Prices

Noida, Oct 23 (APAC Media): Gold prices remained under pressure in domestic and international markets on Friday amid rising crude oil prices, renewed tensions in the Middle East and expectations of higher US interest rates, which dampened demand for the precious metal.

International spot gold fell 0.3 per cent to around $4,017.21 per ounce by 0351 GMT, heading for its steepest weekly decline in more than four months. US gold futures for December delivery dropped 0.8 per cent to $4,030.30 per ounce, according to market data.

In the domestic market, gold futures on the Multi Commodity Exchange (MCX) for December 4 delivery settled at Rs 143,303 per 10 grams on Thursday, October 22, compared with the previous close of Rs 143,309. MCX spot gold declined nearly 1 per cent to Rs 142,809 per 10 grams, according to market data reported on Friday.

The weakness followed a sharp sell-off in the previous session, when MCX gold futures fell more than 1 per cent amid concerns that escalating geopolitical tensions could push energy prices higher and complicate the US Federal Reserve’s monetary policy outlook.

City-wise Gold Price Chart Today — October 23, 2026

Silver rates today

Houthi attacks push oil prices higher

Crude oil prices climbed to five-month highs on Thursday after Houthi attacks in Saudi Arabia heightened concerns over potential disruptions to energy supplies from the Middle East.

⇒ Crude Oil Prices Rise 2% as Fresh Houthi Attacks in Saudi Arabia Raise Supply Fears

The increase in oil prices has revived fears of persistent inflation, reducing expectations of near-term monetary easing by the US Federal Reserve. Higher interest rates and bond yields typically weigh on gold, which does not offer interest income.

The geopolitical developments have also complicated gold’s traditional role as a safe-haven asset. Although tensions can encourage investors to seek protection in bullion, the inflationary consequences of rising energy prices can strengthen the case for tighter monetary policy, limiting gains in the precious metal.

Gold heads for weekly decline

Spot gold was down about 3.5 per cent for the week, putting it on course for its largest weekly decline since June. The metal touched its lowest level since July 20 during Friday’s session, Reuters reported.

Market participants are now monitoring the US Federal Reserve’s October 27-28 policy meeting for signals on the future interest-rate trajectory. Persistent inflation, a stronger dollar and elevated Treasury yields could continue to weigh on bullion.

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— IBJA (@IBJA1919) October 23, 2026

IBJA Data 

What buyers should watch

In India, retail gold prices vary across cities and jewellers. On October 23, reported benchmark rates stood at Rs 14,248 per gram for 24-carat gold and Rs 13,060 per gram for 22-carat gold, excluding applicable taxes and jewellery-making charges.

Traders will closely track crude oil movements, developments in West Asia and US monetary policy for fresh direction. Gold prices may remain volatile as markets balance geopolitical risks against inflation and interest-rate concerns.

–ENDS–

Disclaimer: Gold and Silver prices are for informational purposes only. APAC Media is not liable for any discrepancies or financial decisions made based on this data. Please consult an authorised advisor before making  investment choices.

Also Read:

Gold, Silver Prices Today: Check City-wise 24K, 22K Gold & Silver Rates in Delhi, Mumbai, Kolkata

Live MCX Market Watch Index