Gold and silver prices in India surged on May 29, reflecting a rebound in global markets. This increase is driven by economic uncertainty, fluctuating crude oil prices, and renewed investor interest in gold as a safe-haven asset.
Gold prices witnessed a fresh surge across India on May 29 as global bullion markets rebounded amid ongoing economic uncertainty, fluctuating crude oil prices, and renewed investor interest in safe-haven assets. Silver prices also remained firm in domestic markets as traders closely tracked movements in international commodity exchanges including MCX and COMEX.
The rise in gold prices comes after several sessions of volatility in the bullion market. Analysts say geopolitical tensions, changing interest rate expectations, and currency fluctuations continue influencing investor sentiment globally.
Jewellers across major cities reported steady demand despite higher prices, especially for 22-carat and 24-carat gold commonly purchased for jewellery and investment purposes.
Latest Gold And Silver Rates In Major Indian Cities
| City | 22K Gold (10 gm) | 24K Gold (10 gm) | Silver (1 kg) |
| Delhi | Rs 1,43,190 | Rs 1,56,200 | Rs 2,74,900 |
| Mumbai | Rs 1,43,040 | Rs 1,56,050 | Rs 2,74,900 |
| Bengaluru | Rs 1,43,040 | Rs 1,56,050 | Rs 2,74,900 |
| Chennai | Rs 1,44,990 | Rs 1,58,170 | Rs 2,84,900 |
| Hyderabad | Rs 1,43,040 | Rs 1,56,050 | Rs 2,84,900 |
| Kolkata | Rs 1,43,040 | Rs 1,56,050 | Rs 2,74,900 |
Also Read: Paper gold a vital hedge for India amid volatile global energy lines
Why Gold Prices Are Rising Again
Experts believe investors are once again turning towards gold due to global economic uncertainty and volatility in equity markets. International bullion prices have remained highly sensitive to geopolitical developments, especially crude oil fluctuations and tensions affecting global trade routes.
Gold is traditionally considered a safer investment during uncertain economic conditions, which often increases demand whenever markets become unstable.
At the same time, fluctuations in the US dollar and expectations around central bank interest rate decisions are also influencing international gold prices.
Silver Continues To See Mixed Demand
Silver prices remained comparatively stable but continued witnessing mixed trends due to weaker industrial demand in some international markets. However, domestic buying interest and festive demand supported prices in several Indian cities.
Bullion traders say both gold and silver markets may remain volatile in the coming weeks depending on global economic data, inflation trends, and geopolitical developments.
Investors Closely Watching Bullion Market Trends
With gold prices once again nearing record levels in several cities, investors and jewellery buyers are closely monitoring market movements before making major purchases.
Experts advise consumers to track daily bullion rates carefully, especially ahead of the wedding and festive season, as global uncertainty could continue driving sharp fluctuations in precious metal prices.
Also Read: Gold, Silver Prices Fall Today: Check Latest 22K, 24K Rates In Your City
