Gold Rate Today rises on Economic Worries
The gold rate today on May 27, 2024, stood at ₹71,560 per 10 grams for June delivery contracts, as per the Multi Commodity Exchange (MCX), marking a fall of ₹304 or 0.34% compared to the previous close.
On Monday, the precious metal ended its falling streak after witnessing a plunge in its price for two consecutive day. The gold has regained it position in the market, which is due to various factors prevailing in the market such as US dollar rate against Indian Rupee.
Retail Gold Rate Today
For those looking to buy gold in the market currently, the rate including 3% Goods and Services Tax (GST) will be around ₹73,707 per 10 grams. Price may vary in each city depending on demand and supply and local traders.
Gold prices have risen after falling consecutive in the previous week.
The precious metal’s appeal as a safe-haven investment took a hit, as investors favored other asset classes, leading to a consecutive session of losses in the bullion market.
Note: It’s important to note that silver prices may vary across different cities depending on local demand-supply dynamics and premiums charged by traders.
The rise in the silver rate today can be attributed to concerns over slowing economic growth and persistent inflationary pressures, which have boosted the safe-haven appeal of precious metals.
