Gold Rate Today Pauses After A Heavy Fall Of Rs. 6,000/100g in Last 2 Days; Check 24K, 22K, 18K Price, May 28

Gold prices in India today are taking a breather with no major movement recorded in early trade. Over the past two days, the 24 karat gold rate in India has slipped sharply by Rs.6,000 per 100 grams in the bullion market.

Traditionally, May and June observe strong gold and jewellery demand due to the ongoing Hindu wedding season. However, with gold rate in India hitting record highs earlier, buyers are now more cautious and postponing big jewellery purchases.

In the international gold market, spot gold is also under pressure as it pares its recent gains following a profit-booking session yesterday. Currently, spot gold prices are trading around USD 3,200 per ounce, well below their all-time highs. Market experts are closely monitoring the escalating trade tensions between the US and the EU, which might impact global gold rate in the coming days.

Gold Rate in India Today

Since there is no movement in gold rate On May 28th, 22-carat gold rates in India are currently steady at Rs. 89,350 per 10 grams, while the 24-carat gold prices are at Rs. 97,480 per 10 grams. Just like that, 18-carat gold rates in India were stable at Rs. 73,100 per 10 grams.

For heavy weight quantities, 100 grams of 24-carat gold rates are now priced at Rs 9,74,800, while the 22-carat gold today costs Rs 8,93,500.

Silver Rate in India Today

Silver rate in India today also observed no rise or fall and remained steady at yesterday's performance. Currently, 1 kg of silver costs Rs 100,000, while 100g costs Rs 10,000

Gold Price Outlook Ahead

"Gold prices in India are expected to correct. One can sell at Rs. 95400 with a stop loss of Rs. 95700 for the target at 95000-94700, as per Nirmal Bang Securities.

International gold prices are also expected to slip further as per the ICICI Commodity Report, which stated, "The demand for safe haven may ease on de-escalation of trade conflict after U.S. President Donald Trump decided to postpone tariffs on the European Union. Moreover, Fed policymakers are likely to hold rates steady at current levels until they get more clarity on the path of tariffs and their impact on prices and economic growth. Additionally, investors will keep a close eye on FOMC meeting minutes and speeches from Fed policymakers to get more insight on the policy path."

MCX Gold Futures and Silver Futures Prices

Gold futures at the multi-commodity exchange are trading in the green on Wednesday. Gold futures, which are expected to mature on June 5th currently at Rs 95,271 after rising 0.14% per 10 grams as of 10:30 am. Similarly, silver futures slated to mature on 4th July rose 0.56% to trade at Rs 98,025.

Spot Gold Prices + Spot Silver Price Today

According to a Reuters report, "Spot gold was flat at $3,297.19 an ounce, as of 0413 GMT. Bullion fell more than 1% in the previous session. U.S. gold futures were down 0.1% to $3,296. Meanwhile, spot silver was steady at $33.28 an ounce."

City-Wise Gold Rates Today

Gold rates in several major metropolitan cities in India, such as Chennai, Mumbai, Bangalore, and Hyderabad, observed no rise or fall. Here's the latest city-wise update on 22-carat and 24-carat gold rates as of May 28.

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