Gold rate today (May 27, 2024): Gold prices today in prominent Indian cities

On Monday, gold prices experienced a modest uptick compared to last week and the weekend that followed. In India, today’s price for 22 karat gold stands at ₹6,665 per gram, while 24 karat gold is priced at ₹7,271 per gram. Concurrently, on the Multi Commodity Exchange (MCX), June futures contracts for gold increased by ₹309, or 0.43%, reaching ₹71,565 per 10 grams.

Check gold rates in different Indian cities on May 27, 2024

Click to view the gold rate details from last Friday

At the start of last week, gold reached an all-time high of $2,450. However, this surge was short-lived. Rahul Kalantri, VP Commodities at Mehta Equities Ltd., noted that concerns over a prolonged higher monetary policy halted the rally. What followed was gold prices experiencing their largest weekly drop in eight months, with June gold futures falling nearly 5% from their peak, marking the worst selloff in this period.

In international markets, gold edged up on Monday but remained near a two-week low from the previous session. This occurred as investors adjusted their expectations for a U.S. interest rate cut after the Federal Reserve indicated a likely delay in monetary policy easing.

Gold rates fluctuate daily due to a myriad of short- and long-term factors, including supply and demand shifts, economic indicators, geopolitical developments, currency movements, investor sentiment, and more. Given the dynamic nature of the precious metals market, effective monitoring and analysis of pricing data are crucial for investors and traders to make informed investment decisions.

While these data points offer valuable insights into market trends and factors driving price movements, investors are advised to perform their own due diligence before making any investment decisions. As the day progresses, it is important for investors to remain vigilant and monitor gold rates closely for any emerging trends or market developments. By staying informed about these daily price fluctuations, investors can identify potential trading opportunities and make well-informed investment decisions.

For daily updates and in-depth analysis of gold rates, continue following our coverage on Business Insider India.

Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. Rates are subject to change from time to time and across multiple geographical locations. We recommend readers consult certified, qualified and registered advisors for professional and personalised financial advice.