Gold prices on May 29: Gold rates fall further as strong dollar rises after US court blocks trade tariffs

Domestic gold prices dropped today extending the decline witnessed in the last few days. As of 12:30 pm, the 24K gold rate in the local market stood at ₹95,020 per 10 gram, down ₹770/10 gram compared to yesterday’s closing, while 22K gold was at ₹87,102 per 10 gram.

Today’s fall in the yellow metal amid steep rise in US dollar index after U.S. federal court’s ruling against President Donald Trump’s trade tariffs.

The U.S. court of International Trade said President Donald Trump trade tariffs issued on April 2 were illegal and blocked his plan to impose sweeping import tariffs under emergency powers. However, in response the Trump administration has already filed notice appealing the court decision.

As a result, appeal for safe-haven assets declined as investors moved away to risk-driven assets like equities and others.

In New Delhi markets, the 24K gold rate stood at ₹94,720 per 10 gram and 22K gold at ₹86,827 per 10 gram.

Gold Price Today in Major Cities:

MCX Gold futures are also trading lower. As of 12:30 pm, the MCX Gold June future is down 0.4% at ₹95,520 per 10 gram, with a day high of ₹95,562 and day low of ₹95,213. In the US markets, Gold futures for June delivery were trading 0.5% or $20 lower at $3,303 an ounce.

Silver Price Today in India (May 29, 2025)

Silver prices are trading higher compared to fall in the gold prices. In the local market, Silver prices is around 98,010 per kg, up 0.48%. Meanwhile, MCX Silver for July delivery trades 0.5% higher at ₹97,751 per kg as of 12:30 am, while international silver prices trade around $33.3 per troy ounce, up 0.4%.

Silver Price Today in Major Cities: