Gold Silver Price Today May 31 2024: Both Gold and silver prices declined on the Multi Commodity Index on Friday.
The average price of 10 gram of 22K Gold stood at ₹66,700 while the 24K gold prices stood at ₹72,760.
The rate of 10 grams of 24K gold in Chennai stood at ₹73,420, which was followed by Delhi and Jaipur where the gold costs ₹72,910.
The average price of 1 kg of silver stood at ₹95,500
However, in Chennai, Hyderabad, and Kerala the metal was sold at ₹1,00,000 followed by Delhi and Mumbai where the metal was sold at ₹95,500
Delhi - ₹72,910
Chennai - ₹73,420
Mumbai - ₹72,760
Kolkata - ₹72,760
Bengaluru - ₹72,760
Delhi - ₹95,500
Chennai - ₹1,00,000
Mumbai - ₹95,500
Kolkata - ₹95,500
Bengaluru - ₹95,600
Gold and Silver prices experience fluctuations influenced by multiple factors, including insights from jewellers. These factors encompass global demand for gold, fluctuations in currency values across nations, prevailing interest rates, and governmental regulations governing the gold trade.
Additionally, global events such as the state of the world economy and the strength of the US dollar relative to other currencies significantly impact gold prices within the Indian market.