New Delhi, Oct. 30 -- Gold price today saw steep correction as stronger-than-expected US inflation data and rising expectations of a December Fed rate hike reduced demand for non-yielding assets. The Multi Commodity Exchange (MCX) gold rate today fell below Rs.1.43 lakh per 10 gram mark on Friday ahead of Diwali celebrations next week.

Meanwhile, international gold prices fell to their lowest since mid-July as the precious metal headed for second straight monthly decline. Spot gold fell 1% to $3,980.40 per ounce by 1107 GMT, after hitting its lowest since July 17 earlier.

MCX Gold futures (with December, 2026 expiry) were down 0.99% at Rs.1,41,181 per 10 grams on Friday. The selling pressure in the precious metals market came after the ...