Gold price above ₹96,000 per 10 gram on May 23 as US dollar index declines; check the latest price in your city

Gold prices are trading higher in the domestic markets, aided by strong gains in the international gold prices. At 10:30 am, the 24K gold rate in the local market stood at ₹96,370 per 10 gram, up ₹330/10 gram compared to yesterday’s closing, while 22K gold was at ₹88,339 per 10 gram.

The yellow metal prices are heading towards strong gains this week amid concerns over the US fiscal outlook and the weak US dollar index.

About two weeks ago, credit rating agency Moody’s downgraded the U.S. government's credit rating from Aaa to Aa1 amid growing national budget deficit, rising debt and interest. As a result, the demand for gold as a safe-haven asset rose amid this uncertainty as investors returned to the yellow metal.

A fall in the US dollar index has also added momentum to gold’s rally. The greenback has dropped over 1% this week, which makes dollar-denominated gold cheaper for international buyers.

As a result, gold prices in India surged past ₹96,000 per 10 gram compared to last week’s prices of around ₹92,500.

As of 10:30 am, 24K gold rate stood at ₹96,250 per 10 gram and 22K gold at ₹88,229 per 10 gram in the Mumbai markets.

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MCX Gold futures are also trading higher in the derivatives market today. As of 10:30 am, the MCX Gold June future is up 0.4% at ₹95,996 per 10 gram, with a day high of ₹96,049 and day low of ₹95,557. In the US markets, Gold futures for June delivery were trading 0.7% or $24 higher at $3,319 an ounce.

Silver Price Today in India (May 23, 2025)

Silver prices are also trading higher in the local market in line with the movement in the gold market. Silver 999 Fine prices are around ₹98,440 per kg, up 0.3%. Meanwhile, MCX Silver for July delivery trades 0.3% higher at ₹98,110 per kg as of 11:30 am, while international silver prices trade around $33.3 per troy ounce, up 0.4%.

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