Gold and Silver rate today (May 28, 2024): Yellow metal futures below Rs 71,850, white metal futures near Rs 94,300

Gold and Silver rate today (May 28, 2024): Domestic metal futures on Tuesday traded under pressure as traders looked ahead to US inflation data this week that may influence the timing of the Federal Reserve’s pivot to cutting borrowing costs. 

MCX gold futures (Jun 5) slipped 0.23 per cent or Rs 169 at Rs 71,840 per 10 grams at the last count. Meanwhile, MCX Silver futures (Jul 5) were down 0.33 per cent or Rs 312 at Rs 94,296 per kg.

Meanwhile, COMEX gold in the international market was up 0.42 per cent at $2,344.4.

"Gold having witnessed a steady trade yesterday could continue to consolidate amid focus to remain on the US PCE Index due later in the week along with GDP numbers to provide fresh direction to prices," said Neha Qureshi, Senior Technical & Derivative Research Analyst, Anand Rathi Commodities & Currencies.

Should you invest in gold now?

Anand Rathi Commodities & Currencies' Neha Qureshi recommended buying gold June futures on dips at Rs 71,900, keeping the stop loss at Rs 71,400 and a target price of Rs 72,500. For silver July futures, she recommended buying on the dips at Rs 94,600, with a stop loss of Rs 93,600 and a target of Rs 96,600.

Here's a list of indicative spot gold prices in some of the major cities in the country: 

City-wise gold rate (24k) in India (May 28, 2024)

(Disclaimer: These are indicative prices collected from trusted sources. Investors are advised to check prices with their jeweller before acting on the information.)

Catch all the highlights of the May 24 session on Dalal Street here. For all other news related to business, politics, tech and auto, visit Zeebiz.com.