Gold price today on 29 May: Gold rate dropped on the MCX on Friday, 29 May, morning due to profit booking, amid persisting uncertainty and doubts over a potential US-Iran ceasefire extension.
The uncertainty has kept oil prices lower as the US-Iran ceasefire extension awaits US President Donald Trump’s approval. Any rejection by Trump could drag the war out further and heighten inflation fears, raising the possibility of near-term interest rate hikes.
were 0.18% down at ₹1,57,410 per 10 grams, while MCX silver July futures were 0.45% down at ₹2,69,170 per kg around 9:19 am.
The focus of global market participants is on a resolution to the ongoing dispute between the . Any improvement in the situation is bound to provide much-needed respite from the rising inflation and commodity prices.
Important geopolitical developments
traded higher on Friday as Washington and Tehran moved closer to a temporary agreement to halt their three-month conflict, according to a CNBC report. More developments and clarity on the situation are awaited. Japan’s Nikkei 225 rose 0.88%, while the Topix index added 0.53%. South Korea’s Kospi jumped 2.68%.
Exxon warns oil inventories will hit dangerously low levels in weeks
In another CNBC report, experts warned that inventories will fall to dangerously low levels in the coming weeks, forcing prices to shoot higher. Oil inventories will hit “really, really low levels” in the coming weeks due to the Middle East conflict, stated Exxon Mobil executive Neil Chapman.
Iran reportedly launches missiles, as Trump mulls deal
Iran’s armed forces fired missiles at unidentified targets late Thursday local time, the state media outlet Fars reported. The latest in southern Iran came hours after the Pentagon said that Iran had launched a ballistic missile toward Kuwait and deployed attack drones in and around the strait.
Here are the most recent price changes in gold and silver across various cities in India.
Gold Prices in Mumbai — 29 May
24 karat gold rate in Mumbai — ₹157,210/10 gm
22 karat gold rate in Mumbai — ₹144,027/10 gm
Silver 999 Fine rate in Mumbai — ₹268,950/1 kg
Gold Prices in New Delhi — 29 May
24 karat gold rate in New Delhi — ₹156,810/10 gm
22 karat gold rate in New Delhi — ₹143,7430/10 gm
Silver 999 Fine rate in New Delhi — ₹268,350/1 kg
Gold Prices in Bengaluru — 29 May
24 karat gold rate in Bengaluru — ₹157,200/10 gm
22 karat gold rate in Bengaluru — ₹144,100/10 gm
Silver 999 Fine rate in Bengaluru — ₹269,030/1 kg
Gold Prices in Kolkata — 29 May
24 karat gold rate in Kolkata — ₹156,870/10 gm
22 karat gold rate in Kolkata — ₹143,798/10 gm
Silver 999 Fine rate in Kolkata — ₹268,460/1 kg
Gold Prices in Hyderabad — 29 May
24 karat gold rate in Hyderabad — ₹157,330/10 gm
22 karat gold rate in Hyderabad — ₹144,219/10 gm
Silver 999 Fine rate in Hyderabad — ₹269,240/1 kg
Gold Prices in Chennai — 29 May
24 karat gold rate in Chennai — ₹157,530/10 gm
22 karat gold rate in Chennai — ₹144,403/10 gm
Silver 999 Fine rate in Chennai — ₹269,600/1 kg