By Admin 
- Gold and silver prices fell due to easing of geopolitical tensions.
- 24 carat gold becomes cheaper by Rs 400-500, fall in 22 carat gold also.
- International selling, dollar strength impacting prices.
- Wedding season is over, demand decreased due to profit booking.
Gold-Silver Rate On May 29: Today, a decline in the prices of gold and silver is being seen across the country. There are hopes of reducing geopolitical tension due to the positive news of ceasefire between America and Iran. Whenever the world moves towards peace, investors withdraw money from safe investments (gold) and invest it in the stock market, due to which the market rises and due to reduced demand, the prices of precious metals fall.
What is the price of 24 and 22 carat today?
- Today 24 carat gold has become cheaper by Rs 400-500 per 10 grams as compared to yesterday. With this, the price has now fallen to the range of Rs 1,55,900-156,100.
- There has also been a slight decline in the price of 22 carat gold today. With this, today it is trading around 1,42,800-1,43,050.
More reasons for falling prices
International sales- This is also another reason for falling prices today. Gold on COMEX has slipped below $2400. Its effect is also visible on 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, due to which the demand for gold has decreased.
Profit booking- For the last few months, gold had reached record high levels, after which now big investors are withdrawing their profits by selling at higher levels.
Wedding season is over- The wedding season in India is also almost on the verge of ending. This has reduced demand among buyers.
city wise gold prices
Delhi- 1,56,200
Mumbai- 1,56,050
Kolkata- 1,56,050
Chennai- 1,58,170
price of silver
Today, slight fluctuations are being seen in the prices of silver as compared to yesterday. Today silver is being sold between Rs 2850 to Rs 2900 per 10 grams. Its price per kg today remains between Rs 2,85,000 to Rs 2,90,000 on MCX.
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