Gold and Silver Rate: Gold and silver prices are seeing a slight decline today compared to yesterday. News of a US-Iran peace agreement has buoyed investors and reduced demand for safe havens.

Gold-Silver Rate On May 29: Gold and silver prices are falling across the country today. Positive news of a ceasefire between the US and Iran raises hopes of a reduction in geopolitical tensions. Whenever the world moves toward peace, investors withdraw money from safe investments (gold) and invest it in the stock market, leading to a market boom and a decline in demand, which causes prices of precious metals to fall.

What is the price of 24 and 22 carat today?

• Today, 24-carat gold prices fell by ₹400-₹500 per 10 grams compared to yesterday, bringing the price down to the range of ₹155,900-₹156,100.
• The price of 22-carat gold also declined slightly today and is trading around ₹1,42,800-₹1,43,050.

Other reasons for falling prices

International selling   is another reason for today's price decline. Gold has slipped below $2,400 on COMEX. This is also affecting the Indian bullion markets.

Strength of Dollar: Due to the strengthening of the US Dollar Index, investors are withdrawing money from gold and investing it in dollars, which has reduced the demand for gold.

Profit booking: Gold had reached record high levels in the last few months, after which big investors are now taking out their profits by selling at higher levels.

Wedding season is over – The wedding season in India is almost over, which has led to a decrease in demand among buyers.

Citywise Gold Price

Delhi – 1,56,200

Mumbai- 1,56,050

Kolkata – 1,56,050

Chennai – 1,58,170

Silver price

Silver prices are also seeing slight fluctuations today compared to yesterday. Silver is selling between ₹2,850 and ₹2,900 per 10 grams. Its price per kilogram is hovering between ₹2,85,000 and ₹2,90,000 on the MCX today.

PC: Housing