Gold rate today, Aug. 23 -- The MCX gold rate witnessed strong buying post-Jerome Powell's speech at the Jackson Hole Symposium on Friday. The MCX gold rate (October 2025 expiry) finally finished Rs.956 per 10 gm higher and regained the psychological Rs.1 lakh mark on a closing basis. In the international market, the COMEX gold price finished 1.09% upside at $3,418.50 per troy ounce.

According to market experts, Jerome Powell's speech at the Jackson Hole Symposium has triggered hopes for a cut in the US Fed rate. They said the market expects a 25 bps rate cut in the following US Fed meeting in September 2025. Falling US dollar rates may trigger gold buying on MCX and the international market. They suggested investors remain vigilant abou...