what is the gold rate of 24 carat today : May 27, 2025

what is the gold rate of 24 carat today : May 27, 2025

A weakening US dollar and worldwide trends drove up gold prices in the domestic futures market. Gains were, however, constrained by weak domestic demand. on information on interest rates, investors wait on US economic statistics.

Today’s gold price: Following encouraging global signals and a decline in the US dollar, gold prices increased in the domestic futures market Tuesday morning. The gains were, however,limited by weak domestic spot market demand. Around 9:10 AM,MCX Gold June 5 contracts were up 0.08 percent at ₹96,018 per 10 grams.

Also Read : what is the price of 24k gold today : May 26, 2025

According to Reuters,worries over the US economic outlook and a declining currency helped international gold prices trade close to a two-week high.

Gold’s demand increased as the dollar index fell more than 0.20 percent, making it more affordable in foreign currencies.

In order to set expectations for the US Federal Reserve’s interest rate trajectory, investors are currently concentrating on impending US macroeconomic releases.

Recently, gold prices have been leveling off as global tensions and worries about a trade war have subsided. However, the yellow metal is being supported and the US dollar is being weighed by concerns that the US fiscal deficit will increase following the tax-cut measure.

Gold’s demand increased as the dollar index fell more than 0.20 percent, making it more affordable in foreign currencies.

In order to set expectations for the US Federal Reserve’s interest rate trajectory, investors are currently concentrating on impending US macroeconomic releases.

According to estimates from the Congressional Budget Office, US President Donald Trump’s tax cut proposal may “add about $3.8 trillion to the federal government’s $36.2 trillion in debt over the next decade,” according to a Reuters article.

In the meantime, worries about a trade war between the US and its trading partners have significantly decreased. Trump has made the decision to postpone until July 9 the proposed 50% tariff on EU imports.

“Trump’s move reduced safe-haven buying,while investors remain cautious amid erratic US trade policies and ongoing global tensions,”noted Manav Modi,Motilal Oswal Financial Services’ Senior Analyst,Commodity Research.

According to Modi, the longer-term attraction of gold is still supported by ongoing geopolitical unrest and inconsistent trade signals.

“Geopolitical threats have increased since Germany authorized Ukraine’s strike inside Russian territory. Following the biggest air assault of the war, Russia began attacking Ukraine in the air for the third night in a row, which further alarmed the market. In the meantime, Modi pointed out that China’s net gold imports through Hong Kong increased in April, more than doubling from March and reaching their highest level since March 2024.

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