Gold prices have experienced a downturn, marking their fifth consecutive day of decline on May 30, 2025. Several factors are contributing to this downward trend, including evolving global economic conditions, fluctuating investor sentiment, and recent policy announcements. Let's take a closer look at the gold rates across different cities and some expert insights on whether to buy or sell.

Current Gold Rates in Major Cities

As of May 30, 2025, gold rates vary across major Indian cities. These rates include making charges, taxes, and GST, which may be added by jewelers for retail customers, potentially increasing the final price.

• Mumbai: Gold bullion rates are ₹94,840/10 gm, while MCX gold rate is ₹94,545/10 gm.
• Chennai: Gold bullion rates are ₹95,120/10 gm, and MCX gold rate is ₹94,545/10 gm. The price of gold in Chennai has increased by Rs 200 per sovereign on May 30, 2025, with a gram costing Rs 8,920. A sovereign of the yellow metal now costs Rs 71,360.
• Kolkata: Gold bullion rates are ₹94,710/10 gm, and MCX gold rate is ₹94,545/10 gm.
• Bengaluru: Gold bullion rates are ₹94,990/10 gm, and MCX gold rate is ₹94,545/10 gm.
• Hyderabad: The rates align closely with other major cities, with slight variations based on local market conditions.
• New Delhi: Similar to other metropolitan areas, gold rates in Delhi are influenced by both national and international factors.

Global Market Overview

Internationally, spot gold prices are showing a marginal dip:

• Spot Gold: $2,382.40/oz
• Gold Futures: $2,387.10/oz
• COMEX Gold: $2,385.90/oz

Factors Influencing Gold Prices

Several factors are influencing the current gold prices:

• US Economic Data: Revised data indicated that the US economy contracted at an annualized rate of 0.2% in Q1 2025. Additionally, weekly jobless claims rose, suggesting a slightly weakening labor market.
• Federal Reserve Policy: The Federal Reserve is adopting a wait-and-see approach to evaluate the economic effects of recent policy moves.
• Tariff Decisions: Uncertainty surrounding tax policies and international trade relations continue to keep gold prices in flux.

Expert Recommendations

Manoj Kumar Jain of Prithvifinmart Commodity Research suggests selling gold below ₹95,000 with a stop loss of ₹95,550, targeting ₹94,200. Rahul Kalantri, VP of commodities at Mehta Equities, notes that gold has support at $3,255-3,240 and resistance at $3,300-3,322.

Gold as a Safe Haven

Despite short-term fluctuations, gold remains a trusted safe-haven asset amid economic uncertainties. Over the past year, gold costs have jumped 30%, with a 15% CAGR since 2001, and have beaten inflation by 2-4% since 1995.

Alternative Investment Options

• Sovereign Gold Bonds (SGBs): SGBs were open for subscription via the RBI's Series III 2025-26 tranche from May 20–May 24, 2025, at an issue price of ₹6,540 per gram.

Regional Price Variations

• Dubai, UAE: 24 Carat gold is priced at 399.25 AED, 22 Carat at 369.75 AED, 21 Carat at 354.50 AED and 18 Carat at 303.75 AED.
• Pakistan: Gold prices remain constant in local and international markets, with gold at Rs349,300 in Karachi, Lahore, Islamabad, Peshawar, Quetta, Sialkot, Hyderabad and Faisalabad.
• Bangladesh: The price of 22-carat gold is BDT 1,69,921 per bhori (11.664 grams).

Conclusion

While gold prices have been declining for the past five days, experts suggest a sell-on-rise strategy, particularly around the ₹96350-96400 resistance zone. Investors should closely monitor global cues and economic data to make informed decisions. Gold remains a significant investment, especially as a hedge against inflation and economic uncertainty, but it's essential to stay updated with the latest market trends and expert advice.