Gold price today, Nov. 24 -- The rates of gold crashed by a per cent on the MCX on Monday (November 24) morning amid fading expectations of another US Fed rate cut in December and easing geopolitical tensions. The firm dollar index also exerted pressure on gold prices. MCX Gold December futures traded 1 per cent lower at Rs.1,22,950 per 10 grams, while MCX Silver December futures were 0.61 per cent down at Rs.1,53,209 per kg at that time.

Gold prices lack a fresh positive trigger to sustain their gains. The dwindling prospects of a US Fed rate cut next week are one of the major factors behind the recent correction in gold prices.

The latest data from the US job market has poured cold water on the prospects of a 25 basis point rate cut b...