Gold, Silver Rate Today, May 31: Gold prices continue to fluctuate amid the ongoing US war against Iran, causing uncertainty across global markets. Gold prices dipped 1.36 per cent during the week as a stable dollar and stronger‑than‑expected US inflation data reinforced expectations that the US Federal Reserve may raise interest rates later this year, IANS reported.
On Friday, MCX gold June futures dipped 0.59 per cent while MCX silver May futures lost 0.94 per cent. Currently, gold futures stand at Rs 1,56,000, while silver futures at Rs 2,67,000 per kg. According to the IANS report, the price of 10 grams of 24-carat gold was at Rs 1,56,463 on Friday down from Rs 1,58,622 seen on Monday market opening, according to data published by the India Bullion and Jewellers Association (IBJA).
The dollar index rose about 0.10 per cent, while US personal consumption expenditures (PCE) rose 3.8 per cent (year‑on‑year) in April, the fastest pace since May 2023, bolstering expectations of US Fed rate hikes this year.
At present, Gold rates in New Delhi are Rs 15,719 (24K), Rs 14,410 (22K), and Rs 11,793 (18K) per gram. Gold rates in Mumbai are Rs 15,704 (24K), Rs 14,395 (22K), and Rs 11,778 (18K) per gram. Gold rates in Chennai are Rs 15,960 (24K), Rs 14,630 (22K), and Rs 12,275 (18K) per gram. Gold rates in Kolkata are Rs 15,704 (24K), Rs 14,395 (22K), and Rs 11,778 (18K) per gram.
Are gold prices at an all-time high or low? What is the latest update?
To recall our readers, Gold pricing in India is determined by both global and local factors. The international price of gold, the U.S. Dollar’s strength, and local jewelry consumption, especially around holidays, all determine gold’s intrinsic value. Consequently, the buyer in India must contend with listings that vary based on broader economic factors and seasonal market factors.
As of May 31, the Gold rates in Chennai are Rs 15,960 (24K), Rs 14,630 (22K), and Rs 12,275 (18K). Gold rates in Mumbai are Rs 15,704 (24K), Rs 14,395 (22K), and Rs 11,778(18K). Gold rates in New Delhi are Rs 15,719 (24K), Rs 14,410 (22K), and Rs 11, 793(18K). Gold rates in Kolkata are Rs 15,704 (24K), Rs 14,395 (22K), and Rs 11,778 (18K).
Moreover, Gold rates in Bangalore are Rs 15,704 (24K), Rs 14,395 (22K), and Rs 11,778 (18K). Gold rates in Hyderabad are Rs 15,704 (24K), Rs 14,395 (22K), and Rs 11,778(18K). Gold rates in Kerala are Rs 15,704 (24K), Rs 14,395 (22K), and Rs 11,778 (18K).
Today 24 Carat Gold Rate Per Gram in India (INR)
Gram
24K Gold
22K Gold
18K Gold
1 gram
₹15,704
₹14,395
₹11,778
8 grams
₹1,25,632
₹1,15,160
₹94,224
10 grams
₹1,57,040
₹1,43,950
₹1,17,780
100 grams
₹15,70,400
₹14,39,500
₹11,77,800
City-wise Gold Rate Per Gram in India (INR)
City
24K Gold (per gram)
22K Gold (per gram)
18K Gold (per gram)
Chennai
₹15,960
₹14,630
₹12,275
Mumbai
₹15,704
₹14,395
₹11,778
Delhi
₹15,719
₹14,410
₹11,793
Kolkata
₹15,704
₹14,395
₹11,778
Bangalore
₹15,704
₹14,395
₹11,778
Hyderabad
₹15,704
₹14,395
₹11,778
Kerala
₹15,704
₹14,395
₹11,778
Pune
₹15,704
₹14,395
₹11,778
Vadodara
₹15,709
₹14,400
₹11,783
Ahmedabad
₹15,709
₹14,400
₹11,783
What are the silver rates alongside gold for May 31?
Currently, the price of silver in India is Rs 280 per gram and Rs 2,80,000 per kilogram. Although it is often less expensive than gold, silver is still a common choice for investors and jewelry buyers, especially in countries that buy more silver ornaments than gold. The price of silver also depends on the global market, as the demand for silver for industrial use and manufacturing also plays a large part in price fluctuations.
