Gold Price India, May 28: 24K/100 Grams Gold Jumps By Rs 4900 In 2 Days, Silver Up By Rs 5000

Gold prices in India continued to rally for second consecutive day on May 28, 2024 as investors sought to maintain a vigilant approach ahead of crucial US inflation data that may throw may light on Federal Reserve's policy trajectory. 22k gold prices today jumped by Rs 200 to Rs 66,850/10 grams in India on May 28, 2024 and 100 grams of 22 carat yellow metal prices zoomed by Rs 2000 in the country.

24K gold prices today rose by Rs 220 to Rs 72,930/10 grams and 100 grams of 24 carat precious metal prices surged by Rs 2200 to settle at Rs 7,29,300 on May 28, 2024. 18k yellow metal prices today jumped Rs 170 in India to Rs 54,700/10 grams and 100 grams of 18k gold prices today rallied by Rs 1700 to Rs 5,47,000 on Tuesday. It is worth mentioning here that 24k/100 grams gold prices have zoomed by Rs 4,900 in last 2-days.

Silver Prices Today: Silver prices in India today witnessed a strong jump as 1 kg silver prices got dearer by Rs 3,500 to Rs 96,500. 100 grams of silver prices today rallied by Rs 350 to Rs 9,650. Silver prices have now rallied by Rs 5000 in last 2-days only.

Spot Gold, Silver Prices Today: Spot gold continued to hold its ground at $2,351.39 per ounce, as of 0110 GMT, after surging by 1% in the previous session. Spot silver zoomed 0.4% to $31.81 per ounce, platinum was up 0.2% at $1,056.15 and palladium gained 0.4% to $992.50.

According to Reuters, "gold has suffered from more hawkish perceived comments from Fed officials and better-than-expected U.S. economic data, with market participants again shifting back the timing of the first Fed rate cut," UBS analyst Giovanni Staunovo said.

The Reuters report added, "we expect gold prices to stay volatile, and price setbacks to be shallow, targeting gold prices to test new record highs later this year," UBS' Staunovo said.

On factors that is leading a rise in yellow metal prices, Neha Qureshi, Senior Technical & Derivative Research Analyst, Anand Rathi Commodities & Currencies said, "Gold having witnessed a steady trade yesterday could continue to consolidate amid focus to remain on the US PCE Index due later in the week along with GDP numbers to provide fresh direction to prices."

Should you buy yellow metal and silver now? Neha Qureshi suggesting investing in gold June futures on dips at Rs 71,900 and maintaining the stop loss at Rs 71,400 with target price of Rs 72,500. For silver July futures, the analyst suggested buying on the dips at Rs 94,600, and maintain the stop loss at Rs 93,600 with target price of Rs 96,600.

22k/10 Grams Gold Price Movement In Last 10-Days In India

Gold price today rallied by Rs 200, surged by Rs 250 on May 27, remained unchanged on May 25, fell by Rs 900 on May 24, declined by Rs 1000 on May 23, stayed steady on May 22, fell by Rs 600 on May 21, jumped by Rs 500 on May 20, and surged by Rs 800 on May 18.

1kg Silver price India movement in last 10-days

Silver prices today rallied by Rs 3500, surged by Rs 1500 on May 27, slipped by Rs 500 on May 25, dived by Rs 500 on May 24, fell sharply by Rs 3300 on May 23, rallied by Rs 1200 on May 22, fell by Rs 1900 on May 21, jumped by Rs 3500 on May 20, stayed unchanged on May 19, and surged by Rs 3900 on May 18.

1 Gram Gold prices In 5 Key Metropolitan Cities Of India On May 28, 2024:

Gold Price Chennai: Price of 1 gram of 22 carat of gold price Chennai today is Rs 6,740

Yellow Metal Price Mumbai: Price of 1 gram of 22 carat gold in Mumbai on May 28 is Rs 6,685

Precious Metal Price Delhi: Price of 1 gram of 22 carat yellow metal in Delhi on May 28 is Rs 6,700

Gold Price Kolkata: Price of 1 gram of 22 carat of yellow metal in Kolkata on May 28, 2024 is Rs 6,685

Gold Price Kerala: Cost of 1 gram of 22K gold in Kerala on May 28 is Rs 6,685

Yellow Metal Price Bangalore: Price of 1 gram of 22 carat gold in Bangalore on May 28 is Rs 6,685