Gold price in India fell to Rs 95,600 per 10 grams as of 6:56 a.m. on May 28, according to the India Bullion Association.
The gold rate in the United States was trading steady at $3,305.60 per ounce in the green.
Notably the precious metal has been steadily climbing to record highs over the past six months, and it hit an all-time high of $3,500 on April 22. Gold prices crossed the $3,500-an-ounce mark for the first time ever in April.
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Rates in New Delhi also saw a fall at Rs 95,270 per 10 grams, according to the association. The price in Mumbai was lower at Rs 95,430. In Kolkata, the rate fell to Rs 95,300. While in Bengaluru, the rate was at 95,510. With the price at Rs 95,710, Chennai continued to see the highest rate in the country.
Silver Price
Silver in India was trading at Rs 97,730 per kg on Wednesday. The price was Rs 98,300 on Tuesday. The commodity has crossed the Rs 1 lakh mark multiple times in the past couple of months, according to the India Bullion Association. Strong industrial demand for silver, fuelled by its importance in renewable energy technologies and electronics, has been driving the surge.
In the United States, Silver was trading at $33.39 an ounce.
Futures
June 5 Futures for the yellow metal saw a 0.02% decline to Rs 95,125, as per Multi Commodity Exchange. Silver futures for July 4 also saw a slight 0.01% fall to Rs 97,465.
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