Surge in Gold Prices Across India: Latest 22 Carat Rates for May 30

Surge in Gold Prices Across India: From the last two days, there has been no rise or decrease in gold prices in India. The cost of gold is constant at Rs Rs 73,000. However, the cost of silver has risen a bit from its earlier price, Silver is now priced at Rs 96,600 per kilogram.

A slight increase has been seen in the 22-carat gold price, the cost of 22-carat gold on Thursday was Rs 67,110 which is an increase of Rs 250 from yesterday's price of Rs 66,860.

In the previous month, the price of 24k gold decreased by 0.18% and increased by 1.08% in the last week.

On the Multi Commodity Exchange market, trading in the gold futures contracts on May 30 was priced at Rs.72125 which is down by a few percent and will end on August 5, 2024.

On the Multi Commodity Exchange market, trading in silver futures contracts which will end on July 5, 2024, was priced on May 30 at Rs 94,960.

Prices stayed the same on the foreign market, the gold prices are priced around $2,338.45 an ounce.

Business Today reported that Jateen Trivedi, a certified OTA and VP Research Analyst said, "Gold price faced resistance at $2355-2360 in Comex, and MCX Gold faced selling around Rs 72450.”

He further said, “Amid dollar minor rise, and upcoming PCE price index data on Friday which will hint towards inflation projections thus profit booking was seen in Gold after a positive rally from Rs 71250 to Rs 72450 in the last three trading sessions. Going ahead gold will take support near Rs 71000 and resistance near Rs 72600 till PCE price index data flashes out."

However, fluctuations in gold prices depend upon several factors such as the exchange rate, Geopolitical factors, demand for gold, Interest rates, and many other elements.

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