Gold Prices Dip on April 23 as Investors Book Profits; ₹1,900 Down from Previous Close
After rallying in recent sessions, gold prices saw a sharp drop of ₹1,900 on April 23 due to profit booking at higher levels. Traders eye U.S. data and geopolitical cues.
Key Highlights:
Gold Price Today opened lower on April 23, 2025, witnessing a sharp decline of ₹1,900 per 10 grams in early trade as investors resorted to profit booking after the yellow metal’s recent rally to multi-month highs.
On the Multi Commodity Exchange (MCX), gold futures for June delivery were trading at around ₹71,350 per 10 grams, down from the previous close of ₹73,250. In spot markets, 24-carat gold prices dropped to ₹71,300, while 22-carat gold hovered around ₹65,400 across key cities including Delhi, Mumbai, Chennai, and Kolkata.
Gold Price Today: Domestic and Global Drivers Behind the Dip
Analysts attribute the dip to profit booking at elevated levels, with traders taking advantage of the recent price surge. A softer U.S. dollar and cooling treasury yields had previously supported bullish sentiment in bullion markets.
However, renewed hopes of U.S. rate stability and easing geopolitical risk in the Middle East have calmed the rally, prompting gold holders to lock in gains.
According to market experts:
“This is a healthy correction. With the next U.S. inflation and GDP data around the corner, some volatility in gold is expected.”
Gold Price Today City-wise Rate Update for April 23, 2025
Here’s how gold rates looked across major Indian cities as of 9:30 AM:
| City | 22K Gold (₹/10g) | 24K Gold (₹/10g) |
|---|---|---|
| Delhi | ₹65,400 | ₹71,300 |
| Mumbai | ₹65,250 | ₹71,150 |
| Chennai | ₹66,200 | ₹72,100 |
| Kolkata | ₹65,350 | ₹71,250 |
| Bengaluru | ₹65,100 | ₹71,000 |
Prices are subject to slight intra-day movement depending on demand, currency valuation, and global spot gold trends.
What This Means for You
- Investors: Consider gold ETF or SIP averaging during dips like this one.
- Jewellery buyers: The dip offers a window for pre-Akshaya Tritiya purchases at slightly discounted rates.
- Retail traders: Avoid aggressive shorting until international trends settle.
How to Take Action
- Monitor U.S. economic indicators and Fed commentary this week.
- Track India’s import data and rupee-dollar movements for price sensitivity.
- Buy in tranches if you’re a long-term investor aiming to hedge inflation.
Who Will Be Affected
- Bullion traders, facing short-term margin volatility due to speculative unwinding.
- Importers and exporters, especially in the jewellery industry, amid changing forex dynamics.
- Central banks, whose buying activity could stabilize demand if the dip extends.
Outlook Ahead: Healthy Correction or Beginning of Pullback?
While the dip in gold price today reflects cautious trading, the long-term fundamentals remain robust. As global economies deal with sticky inflation, central bank liquidity policies, and geopolitical uncertainties, gold continues to be a hedge and a safe-haven asset.
Experts suggest the ₹71,000–₹70,500 zone could act as a short-term support. Further downside would require stronger dollar momentum or clearer rate guidance from the U.S. Federal Reserve.
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