Gold prices slipped on Thursday, September 18, as the US dollar strengthened in the aftermath of the Federal Reserve's widely anticipated 25 bps rate cut. Spot gold eased 0.1% to $3,655.10 per ounce, while US December futures dropped 0.8% to $3,689.80 an ounce.

In India, prices fell ₹574, or 0.52%, to trade at ₹1.09 lakh per 10 grams, according to Goodreturns. The decline follows gold hitting a record high of $3,707.40 per ounce on September 17.

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The Fed cut rates to a 4.00-4.25% range but signaled a measured approach to further easing, which strengthened the dollar and pressured bullion. Analyst Edward Meir of Marex noted that "gold may retrace further, possibly to $3,600 an ounce" given firmer yields and dollar strength.

Profit booking and ETF flows

SPDR Gold Trust, the world's largest gold-backed ETF, saw holdings fall from 979.95 tonnes to 975.66 tonnes, signaling profit-taking.