A further decline has been seen in the prices of gold in the country. On the morning of May 28, gold became cheaper in most cities. In the national capital Delhi, the price of 24-carat gold fell to ₹158,430 per 10 grams. In Mumbai, the price has fallen to ₹158,280 per 10 grams. A day earlier, in Delhi’s bullion market, the price of gold of 99.9% purity had fallen by ₹1,100 to ₹161,300 per 10 grams. Experts believe that investors are cautious about gold due to the ongoing tension between America and Iran and increasing demand for the dollar as a ‘safe haven’. Following new US attacks in southern Iran, demand for the dollar as a ‘safe investment’ option has increased.
US-Iran talks are still surrounded by uncertainty. As hopes for an agreement in the near future diminish, concerns have grown over rising energy prices and potential disruptions to global trade. This has given rise to fear that inflation may remain at high levels for a long time. As a result, America’s central bank – the Federal Reserve – may continue its tight monetary policy for a longer period. This acts as a negative factor for precious metals like gold and silver. In the international market, the spot gold price is trading at $4,461.02 per ounce.
**Gold prices in major cities of the country**
**Gold Price in Delhi:** In Delhi, the price of 24-carat gold is ₹158,430 per 10 grams. The price of 22-carat gold is ₹145,240 per 10 grams.
**Mumbai and Kolkata:** In Mumbai and Kolkata, 22-carat gold is priced at ₹145,090 per 10 grams, while 24-carat gold is priced at ₹158,280 per 10 grams.
**Gold Price in Chennai:** 24-carat gold price is ₹159,810 per 10 grams. The price of 22 carat gold is ₹147,290 per 10 grams.
Price in Pune and Bengaluru: In both these cities, the price of 24 carat gold is ₹158,280 per 10 grams, while the price of 22 carat gold is ₹145,090 per 10 grams.
price of silver
Like gold, the price of another precious metal – silver – has also fallen further. By the morning of May 28, the price of silver was ₹284,900 per kg. Just a day earlier, in Delhi’s bullion market, silver prices had fallen by ₹3,300 to close at ₹269,700 per kg. In January this year, the price of silver in the country had crossed the ₹400,000 mark. On the other hand, in the international market, the spot price of silver is trading at $74.96 per ounce. The trading environment in the gold and other precious metals markets is being impacted by geopolitical developments.
City 22 Karat Gold Rate Today (₹) 24 Karat Gold Rate Today (₹) Delhi 145240 158430 Mumbai 145090 158280 Ahmedabad 145140 158330 Chennai 146490 159810 Kolkata 145090 158280 Hyderabad 145090 158280 Jaipur 145240 158430 Bhopal 145140 158330 Lucknow 145240 158430 Chandigarh 145240 158430
