Gold rate today: Yellow metal rises; check the latest prices in your city on May 28

Gold rate today

Gold prices have risen on May 28, after a brief fall. Gold's June contracts on the Multi Commodity Exchange of India (MCX) opened at Rs 95,287 per 10 gram today.

Let's check the latest prices of 10 grams of 22 carat and 24 carat gold in major cities of the country on May 28:

Also read: Gold rises as investors buy on dip, eye US economic data for clues

Motilal Oswal Private Wealth is of the opinion that while gold reached all-time highs in April amid global uncertainty, it now appears stretched as some of that uncertainty has eased. "From an asset allocation perspective, MOPW maintains a neutral stance on gold," it said.

Deveya Gaglani, Senior Research Analyst of Commodities at Axis Securities, meanwhile said, "MCX Gold witnessed a sharp decline of over Rs 800 in the previous session, settling near Rs 95,940 as easing economic concerns weighed on sentiment. The move followed U.S. President Trump’s decision to postpone tariffs on the European Union until July 9th, which temporarily reduced safe-haven demand. A recovery in the U.S. Dollar Index also contributed to the weakness in gold prices."

Gaglani further said, "Looking ahead, volatility is expected to remain elevated this week, with key macro triggers including the release of FOMC meeting minutes and prelim U.S. GDP data. On the technical front, immediate support is seen around Rs 95,600. A decisive break below this level could open the door for further downside toward Rs 95,000 and potentially Rs 94,500 in the coming sessions."

Also read: Rally in gold prices dents jewellery demand, any correction 'welcome', says Titan

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