Gold Rates Today Rise for First Time Post Rs. 9,500 Crash This Week; Wedding Season Pushes Gold Towards Record

Gold prices in India today Jumped for the first time this week, as wedding season demand provided support to the yellow metal. Despite this brief recovery, gold rates in India have fallen sharply over the week, declining by nearly Rs 9,500 per 100 grams of 24-carat gold. The domestic bullion market has been under pressure due to weak cues from the international gold market.

Globally, spot gold prices slipped slightly today as the US dollar gained 0.2%. Spot gold is currently trading above USD 2,300 per ounce but has fallen approximately 1.7% so far this week. Because of this reason, gold prices in India may remain volatile in the near term.

Gold Rate in India Today May 30

As of Friday, May 30th, the 22-carat gold rates in India jumped by Rs. 250 to cost Rs. 89,200 per 10 grams, while the 24-carat gold rates are at Rs. 97,310 per 10 grams, which increased by Rs. 270 per 10 grams. On a similar note, 18-carat gold rates in India are retailing at Rs. 72,990 per 10 grams after rising by Rs. 210.

Just like that, the 100 grams of 24-carat gold rates are currently retailing at Rs 9,73,100, while the 22-carat gold rate today costs Rs 8,92,000.

Silver Rate in India Today

White metal prices in India today also observed no rise or fall and remained steady after a slight fall of Rs. 100 per kg yesterday. On May 30th, 1 kg of silver costs Rs. 99,900, while 100g costs Rs. 9,900.

Gold Price / Silver Price Outlook Ahead: What to Expect

"Gold prices are expected to correct. One can sell at Rs 96,500 with a stop loss of Rs 96,800 for the target at Rs 96,000-Rs 95,700. Traders can also buy from Rs. 95,800 with a stop loss of Rs. 95,500. "

Meanwhile, "Silver prices are expected to correct. Traders can sell at Rs 97600 with a stop loss of Rs 98500 for the target Rs 96500-Rs 96000." as per Nirmal Bang Securities.

MCX Gold Futures and Silver Futures Prices

Gold futures at the multi-commodity exchange fell sharply on Friday. Gold futures, which are expected to mature on June 5th currently at Rs 94,890 after rising 0.52% per 10 grams as of 11:00AM. Similarly, silver futures slated to mature on 4th July fell 0.61% to trade at Rs 97,230.

Spot Gold Prices + Spot Silver Price Today

According to a Reuters report, "Spot gold was down 0.5% at $3,300.59 an ounce, as of 0313 GMT. Bullion is down 1.7% so far this week. U.S. gold futures fell 0.5% to $3,298.30. Spot silver fell 0.8% to $33.07 an ounce."

"Gold rose on Thursday as the dollar gave up short-lived gains on a court ruling against President Donald Trump's global tariffs agenda. Bullion rose as much as 1.3%, erasing losses made during the US currency's brief bounce. Gold and silver prices are trading slightly lower today on the international bourses. We expect precious metal prices on Indian bourses to trade range-bound to slightly lower for the day after gold prices recovered some heavy losses sustained earlier this week, as markets were once again rattled by uncertainties around US President Donald Trump's global tariffs agenda and the strength of the US economy." As per the Nirmal Bang Securities Report.

Cjeck City-Wise Gold Rates Today

Here's the latest city-wise update on 22-carat and 24-carat gold rates as of May 30.

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