Gold Rate Today: The precious metal falls on MCX for second consecutive day; Prices at Rs. 73,817

Gold Rate Today Rises on Economic Worries

The gold rate today on May 22, 2024, stood at ₹73,817 per 10 grams for June delivery contracts, as per the Multi Commodity Exchange (MCX), marking a fall of ₹204 or 0.28% compared to the previous close.

Advertisement

This marks the second consecutive day of the price of gold falling.

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 ₹76,032 per 10 grams. Price may vary in each city depending on demand and supply and local traders.

Gold prices continued their downward trajectory, declining for the second straight day amid a stronger U.S. dollar and rising bond yields.

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.