Noida, May 29 (APAC Media): Gold prices remained firm across major Indian cities on Friday, while silver rates witnessed marginal fluctuations amid continued uncertainty in global markets and steady domestic demand.
According to retail market data, 24-carat gold was priced at around Rs 1.61 lakh per 10 grams in Delhi, while 22-carat gold traded near Rs 1.48 lakh. Similar trends were recorded in Mumbai, Chennai, Kolkata, and Bengaluru, indicating stable bullion demand across key urban centres.
Silver prices also stayed elevated, with 999 purity silver trading above Rs 2.70 lakh per kilogram in several cities.
Gold and Silver Prices Today — 29 May
| City | 24K Gold (10 gm) | 22K Gold (10 gm) | Silver 999 (1 kg) |
|---|---|---|---|
| Delhi | ₹1,61,000 | ₹1,47,700 | ₹2,70,000 |
| Mumbai | ₹1,60,850 | ₹1,47,550 | ₹2,69,500 |
| Chennai | ₹1,61,200 | ₹1,47,900 | ₹2,71,000 |
| Kolkata | ₹1,60,900 | ₹1,47,600 | ₹2,69,800 |
| Bengaluru | ₹1,60,950 | ₹1,47,650 | ₹2,70,200 |
| Hyderabad | ₹1,61,050 | ₹1,47,750 | ₹2,70,500 |
Source: Retail bullion market rates as of May 29.
Traders said industrial demand and international price movements continued to support silver rates despite minor day-to-day volatility.
Bullion dealers attributed the firmness in precious metal prices to global economic uncertainty, fluctuating crude oil prices, and investor caution ahead of signals from the US Federal Reserve regarding future interest rate decisions.
International gold prices edged higher in overseas markets as investors continued to seek safe-haven assets amid geopolitical tensions and inflationary concerns. Analysts said any further movement in the US dollar index and bond yields could influence gold prices in the coming sessions.
On the domestic futures market, gold contracts on the Multi Commodity Exchange (MCX) traded near Rs 1.57 lakh per 10 grams, while silver futures hovered above Rs 2.70 lakh per kilogram during intra-day trade.
Jewellers said demand from the ongoing wedding season and festive buying in parts of the country continued to support domestic bullion sales.
However, consumers remained cautious due to elevated prices, with many opting for lighter jewellery purchases.
Market experts advised investors and buyers to closely monitor global economic developments, currency movements, and central bank policy announcements, which are expected to determine the near-term trend in precious metal prices.
Gold and silver have traditionally remained preferred investment avenues for Indian households, particularly during periods of economic uncertainty and market volatility.
— Ends —
Disclaimer:
Gold prices and rates are for informational purposes only. APAC Media is not liable for any discrepancies or financial decisions made based on this data. Please consult an authorised advisor before making investment choices.
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