Gold rate today, Oct. 27 -- After witnessing a strong rally and touching all-time high, the precious metal has finally seen some correction. On Monday, MCX gold prices opened on a lower note, was down 0.77 per cent at Rs.1,22,500 per 10 grams, down from the previous close of Rs.1,23,451.

Meanwhile, in the international market, spot gold prices slipped 0.7 per cent to $4,082.77 per ounce, while US gold futures for December delivery dropped 1 per cent to $4,095.80.

Gold prices declined as easing tensions between the US and China reduced demand for the safe-haven metal. On the other hand, investors remained cautious ahead of key central bank meetings scheduled later this week for monetary policy signals.

"Gold prices continue to decline a...