Gold-Silver Price On May 29: Slight Decline In Gold, Silver Rate; Check What You're Paying Today

New Delhi:  Amid the ongoing US war against Iran, gold and silver price continue to fluctuate, causing uncertainty across global markets. On Friday, silver prices fell by more than Rs 1,000 and gold also saw a decline of nearly Rs 10 per 10 grams. On Friday, Gold and silver prices declined as soon as the domestic commodity market opened.

Spot gold gained 0.4 per cent to $4,512.79 per ounce. The precious metal was marginally higher for the week, up around 0.1 per cent. Spot silver climbed 0.7 per cent to $76.17 per ounce.

What is the price of gold and silver?

These days, gold and silver prices are fluctuating constantly, surprising investors. Gold and silver prices are fluctuating in the international market even today.

The precious metals saw a major movement, in Delhi the 24-carat gold was priced at Rs 1,57,790 per 10 grams and 22-carat gold at Rs 1,44,650. Silver traded at Rs 2,80,000 per kg.

In Mumbai, the 24-carat gold was priced at Rs 1,57,640 per 10 grams and 22-carat gold at Rs 1,44,500. Silver traded at Rs 2,80,000 per kg.

In Kolkata, the 24-carat gold was priced at Rs 1,57,640 per 10 grams and 22-carat gold at Rs 1,44,500. Silver traded at Rs 2,80,000 per kg.

The following rates are as per 10 grams of gold:

• Mumbai - Rs 1,57,640
• Delhi - Rs 1,59,030
• Bengaluru - Rs 1,57,640
• Chennai - Rs 1,59,280
• Hyderabad - Rs 1,57,640
• Kolkata - Rs 1,57,640

The following rates are as per 1 kg of silver:

• Mumbai - Rs 2,80,000
• Delhi - Rs 2,80,000
• Bengaluru - Rs 2,80,000
• Chennai - Rs 2,90,000
• Hyderabad - Rs 2,90,000
• Kolkata - Rs 2,80,000

Why there is change in the rates?

According to analysts, the major reasons behind changes are:

• International market pricing, import fees, taxes
• Blockage of the Strait of Hormuz
• Weakness in the prices of gold and silver in the international market.
• The strengthening of the US dollar, which put pressure on demand for precious metals.
• When the dollar strengthens, spending by foreign buyers increases and this reduces demand for safe investments like gold and silver.

How much lower are the prices from their record highs?

Gold and silver touched their record highs on January 29. According to MCX, the record high level for gold is Rs 1.93 lakh, while the record high price for silver is Rs 4.20 lakh.