Gold and silver prices in your city today, on May 31: US President Donald Trump has deferred his decision regarding tariffs on the European Union until July 9. Concurrently, he has accused China of breaching the trade deal. Amid these uncertainties over trade policies, gold prices are expected to remain in a state of fluctuation.
The yellow metal has witnessed both highs and lows in recent times during volatile market conditions. However, both gold and silver are still typically considered to be safe-haven assets.
Considering the returns, gold prices have gained nearly 30 per cent year-on-year (YoY), and as an investment, it has returned 15 per cent CAGR since 2001. From 1995 onwards, gold has beaten inflation by over 2-4 per cent, according to data. Meanwhile, silver prices have seen fewer fluctuations since Trump entered the White House for the second time.
Gold and silver prices today: Check rates — May 31
The MCX gold index was at ₹94,790/10 gm on May 31 at 7:30 am, the official website showed. Meanwhile, MCX silver prices were at ₹96,996/kg, it showed.
Further, 24-carat gold was priced at ₹95,930/10 gm, according to data on the Indian Bullion Association (IBA) on May 31 at 7:30 am, while 22-carat gold was priced at ₹87,936/10 gms. And, silver prices today are at ₹97,280/kg (Silver 999 Fine), as per the IBA website.
So, check here for prices of gold and silver in your city today on May 31— Delhi, Kolkata, Mumbai, Hyderabad, Bengaluru, and Chennai. It must be noted that for retail customers, jewellers may add making charges, taxes and GST to the bill, which could hike the final price for you.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
