Gold Price Today August 24, 2026: MCX Gold Futures Up 0.42% at Rs 1,63,120 Per 10 Grams as Focus Shifts to US PCE Data and Fed Chair Kevin Warsh Speech

Gold Price Today on MCX: Up 0.42% at Rs 1,63,120 per 10 Grams

The gold price today on MCX shows October futures trading 0.42% higher at Rs 1,63,120 per 10 grams at 9:35 AM IST on August 24, 2026. Gold continues to benefit from a weakening US dollar (the euro is at a three-month high of $1.1685), sustained demand as a safe haven amid US-Canada trade tensions, and a three-week uptrend in spot gold prices. Spot gold internationally is around $4,514 per ounce, near its highest level since early June 2026.

The gold price today is influenced primarily by the anticipated release of US inflation data (PCE, or Personal Consumption Expenditure price index, which is the Federal Reserve's preferred inflation measure) and a speech by US Fed Chair Kevin Warsh. Both events have the potential to move gold prices significantly: a softer-than-expected PCE print would be bullish for gold (as it raises rate cut expectations), while a hawkish Warsh speech could temporarily pressure gold prices.

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Gold Price Today on MCX August 24: Futures and Silver Data

Asset	Level	Change	Signal
MCX Gold (October Futures)	Rs 1,63,120 per 10 grams	+0.42%	Upward
MCX Silver (September Contracts)	Rs 2,45,171 per kg	0.58%	Profit-booking
Spot Gold (International)	~$4,514 per ounce	+3.2% WoW	Third weekly gain
US Dollar (DXY)	Near multi-month lows	Dollar weak	Positive for gold
US Fed Chair Speech	Kevin Warsh today	Key event	Gold direction catalyst
US PCE Data	Expected this week	Key event	Fed rate path signal

Gold Price Today vs Silver: Why Are They Moving in Opposite Directions?

The gold price today diverges significantly from silver on August 24 reflects their different market roles. Gold is primarily a monetary metal and safe haven, benefiting from dollar weakness and geopolitical uncertainty (US-Iran conflict, US-Canada tariff escalation). Silver, on the other hand, has a significant industrial demand component, and weakness in global growth expectations (driven by US-Canada trade tensions and China's soft demand) can weigh on silver even as gold rises.

Silver's 0.58% decline today contrasts with the gold price today's upward momentum, and follows a sharp rally last week when silver ETFs surged 4%+ in tandem with gold. Profit-booking after a strong run is a common secondary-market dynamic, particularly for silver, which tends to be more volatile than gold in both directions.

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Gold Price Today and the Kevin Warsh Fed Speech: What to Expect

US Federal Reserve Chair Kevin Warsh's scheduled speech today is a key event for gold prices. Fed Chair speeches are closely watched for any signals about the pace and timing of future interest rate changes. Interest rates and gold prices have an inverse relationship: lower rates reduce the opportunity cost of holding non-yielding gold, making it more attractive, while higher rates have the opposite effect.

If Warsh signals comfort with current financial conditions or hints at potential rate cuts ahead, gold would likely rise further. If he takes a hawkish stance emphasising inflation vigilance, gold could face temporary selling pressure. The US dollar's reaction to Warsh's speech will be the immediate transmission mechanism for gold price movement.

US PCE Inflation Data and Gold Price Today: The Next Big Trigger

For the gold price today outlook, the PCE (Personal Consumption Expenditure) price index is the Federal Reserve's preferred measure of inflation. A reading below expectations would reinforce expectations of Fed rate cuts, which are positive for gold. A reading in line with or above expectations would maintain the current "higher for longer" rate narrative, which could cap gold's upside. MCX gold's 0.42% gain today reflects cautious optimism ahead of these two events, with the market positioned modestly long.

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Conclusion

The gold price today on MCX shows October futures up 0.42%, reinforcing that the gold price today is in an upward trend at Rs 1,63,120 per 10 grams on August 24, 2026, while MCX silver September contracts are down 0.58% at Rs 2,45,171 per kg. The divergence reflects gold's safe haven role versus silver's industrial sensitivity. Market focus is on US PCE inflation data and US Fed Chair Kevin Warsh's speech, both of which can significantly move gold prices. Verify all live prices on MCX and NSE before trading any commodity contracts.

Frequently Asked Questions on Gold Price Today

What is the MCX gold price today on August 24, 2026?

Ans. MCX gold October futures were at Rs 1,63,120 per 10 grams at 9:35 AM IST on August 24, 2026, up 0.42% from the previous close. Verify the current live price on MCX (mcxindia.com) or your commodity broker platform before trading.

What is the MCX silver price today?

Ans. MCX silver September contracts were at Rs 2,45,171 per kg at 9:35 AM IST on August 24, 2026, down 0.58% from the previous close. Silver is seeing profit-booking after last week's rally, while gold continues to rise.

Why is gold rising today?

Ans. Gold is rising 0.42% on August 24 due to a weaker US dollar (euro at a 3-month high of $1.1685), safe haven demand amid US-Canada tariff escalation and US-Iran conflict, and caution ahead of US PCE inflation data and Fed Chair Kevin Warsh's speech.

Why is silver falling while gold is rising today?

Ans. Silver is down 0.58% due to profit-booking after last week's 4%+ rally. While gold benefits from pure safe haven demand, silver has significant industrial demand that is pressured by global growth concerns from US-Canada trade tensions and China demand softness. Silver is inherently more volatile than gold.

What is US Fed Chair Kevin Warsh's speech about?

Ans. US Federal Reserve Chair Kevin Warsh is scheduled to speak on August 24, 2026. Markets will parse his remarks for signals about future interest rate decisions. A dovish tone would be positive for gold, while a hawkish stance emphasising inflation vigilance could temporarily pressure gold prices. The US dollar will react first to his speech.

What is the PCE inflation data and why does it matter for gold?

Ans. PCE (Personal Consumption Expenditure) is the Federal Reserve's preferred inflation gauge. A below-expectation PCE reading raises rate cut expectations and is positive for gold (lower rates reduce gold's opportunity cost). An above-expectation reading would maintain higher-for-longer rate expectations and could limit gold's upside.

What is the international gold price today?

Ans. International spot gold is around $4,514 per ounce on August 24, 2026, near its highest level since early June 2026 and on track for a third consecutive weekly gain of 3.2%. The MCX gold price in rupees reflects both the international price and the rupee-dollar exchange rate.