Gold Rate on 31 May 2022 Updates: The rise in US bond yields and the strengthening of US dollar had an impact on gold prices. Gold has fallen 2.4 percent in the global market on a monthly basis. This is the biggest fall in gold since September. Silver has also broken 4.1 percent this month.
Gold Sliver Price in India: Due to weak signals in the global market, there has been a fall in the prices of gold and silver in the Indian market on Tuesday, 31 May 2022. On the Multi Commodity Exchange (MCX), the price of June futures gold ( 24 Carat Gold ) fell 0.09 per cent per 10 grams. While July futures silver price fell 0.73 per cent per kg. The price of gold in India has come down by Rs 1,000 this year. There is a softening of gold in the international markets today . The precious metal has weakened for the second day in a row. Spot gold fell 0.3 per cent to $1,849.92 an ounce.
The strengthening of the US dollar and the rise in US Treasury yields put pressure on gold on Tuesday. Gold has fallen 2.4 percent in the global market on a monthly basis. This is the biggest fall in gold since September. Spot silver was down 0.6 percent today at $21.82 an ounce. This month it has broken 4.1 percent.
In Friday’s trade, June futures gold prices fell by Rs 149 or 0.09 per cent to Rs 51,050 per 10 grams on the Multi Commodity Exchange (MCX) . While July futures silver prices fell by Rs 452 or 0.73 per cent to Rs 61430 per kg.
Date city 22 karat gold (per 10 grams) 24 karat gold (per 10 grams)
31 May 2022 Delhi Rs 47,750 Rs 52,100
- Kolkata Rs 47,750 Rs 52,100
- Mumbai Rs 47,750 Rs 52,100
- Chennai Rs 47,920 Rs 52,260
- Bangalore Rs 47,750 Rs 52,100
- Hyderabad Rs 47,750 Rs 52,100
- Kerala Rs 47,750 Rs 52,100
- Ahmedabad Rs 47,800 Rs 52,200
Demand for safe-haven increases in economic crisis
However, gold is seen as a safe-haven during economic crises. High short-term US interest rates increase the opportunity cost of holding bullion while a stronger dollar over time makes greenback-priced bullion more expensive for foreign buyers.
Let us tell you that in March this year, the price of gold had reached a high of Rs 55.600 per 10 grams for many years. After this, gold is struggling with the rise in US bond yields and the strength of the US dollar.
There was a slight increase in gold on Monday
There was a slight increase in the prices of gold on Monday. In the national capital Delhi, the price of 10 grams of gold rose by Rs 75 to Rs 51,052. On the last trading day, the price of gold was Rs 50,977.
At the same time, an increase was also seen in silver and with an increase of Rs 120 per kg, the price of silver reached Rs 62,143. The price of silver was recorded at Rs 62,023 per kg on the last trading day.
