Gold Rate Today Rises on Economic Worries
The gold rate today on May 16, 2024, stood at ₹73,207 per 10 grams for June delivery contracts, as per the Multi Commodity Exchange (MCX), marking a gain of ₹105 or 0.14% compared to the previous close.
The rise in the prices of the precious metal indicates a positive session as it has recently experience high volatility due to various factors, which did not only affect the gold rates but also the stock market indices such as SENSEX and NIFTY.
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 ₹75,403 per 10 grams. Price may vary in each city depending on demand and supply and local traders.
The rise in the gold rate today came amid volatility in the bullion market, with the yellow metal finding support from concerns over slowing economic growth and elevated inflation levels.
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.
