Today, Wednesday 28 May 2025, gold prices have fallen significantly. Compared to yesterday, the price of gold is down by ₹660.
Gold Rate Today: Big Drop in Gold Prices! See How Much Gold Got Cheaper on Wednesday, 28 May
The rate for 24-carat gold is ₹97,600 per 10 grams, while 22-carat gold is trading at ₹89,300. Let’s take a look at gold and silver prices in major Indian cities on this day.
Why Did Gold Prices Fall in India?
The main reason behind the drop in gold prices is weakness in the international market.
Pressure from Brussels to speed up trade talks between the US and the European Union has made investors reduce their buying of gold as a safe asset.
This lowered global demand pushed the gold price down from $3,350 per ounce to $3,296.92.
Domestically, fluctuations in the dollar-rupee exchange rate and the US decision to extend the deadline on EU tariffs also affected gold demand.
With easing geopolitical tensions, investors are moving towards other asset types, which is putting more pressure on gold prices on the MCX.
Experts expect gold prices to trade between ₹94,500 and ₹96,750 in the coming days, possibly falling further.
Gold Prices in Major Cities on Wednesday, 28 May
Gold prices dropped on May 28 across the country. In Delhi, the price of 22-carat gold fell by ₹600, and 24-carat gold by ₹650.
The rates in Delhi were ₹89,500 for 22-carat and ₹97,630 for 24-carat gold per 10 grams.
In Mumbai, 22-carat gold traded at ₹89,350 and 24-carat at ₹97,480, both down by up to ₹660. Here are the gold prices for some major cities:
| City | 22 Carat Gold (₹/10g) | 24 Carat Gold (₹/10g) |
|---|---|---|
| Delhi | 89,500 | 97,630 |
| Chennai | 89,350 | 97,480 |
| Mumbai | 89,350 | 97,480 |
| Kolkata | 89,950 | 97,480 |
| Jaipur | 89,500 | 97,630 |
| Noida | 89,500 | 97,630 |
| Ghaziabad | 89,500 | 97,630 |
| Lucknow | 89,500 | 97,630 |
| Bangalore | 89,350 | 97,480 |
| Patna | 89,350 | 97,480 |
Silver Rate
On Wednesday, 28 May 2025, silver is priced at ₹1,00,000 per kilogram.
How Is Gold Price Decided?
Gold prices in India depend on many factors like international market trends, government taxes, and fluctuations in the rupee’s value.
Gold is not only an investment but also plays an important role in Indian traditions and festivals. Demand usually rises during wedding seasons and festivals.
