Gold Rate Today, May 29, 2029: Gold Price Slips Again on Friday; 24K Drops ₹650 per 10 Gram from Wednesday

Mumbai, May 29: Gold prices in India extended their retreat on Friday, declining for a fourth session in the past week as renewed optimism around a potential US-Iran ceasefire extension dampened safe-haven buying. 

The national price of 24-karat gold (99.9% purity) eased to ₹1,57,640 per 10 grams, shedding ₹650 from Wednesday’s ₹1,58,290. The 22-karat rate (91.6% purity) declined to ₹1,44,500 per 10 grams, down ₹600 from Wednesday’s ₹1,45,100. The 18-karat price (75% purity) slipped to ₹1,18,230 per 10 grams, retreating ₹490 from Wednesday’s ₹1,18,720. On a per-gram basis, 24K gold now stands at ₹15,764, 22K at ₹14,450 and 18K at ₹11,823.

Friday’s decline follows a turbulent week for the yellow metal, which has been caught between the structural support of persistent geopolitical uncertainty and the counter-pressure of ceasefire diplomacy that periodically reduces the urgency of safe-haven positioning. 

Reports on Thursday that the United States and Iran had reached a preliminary agreement to extend their ceasefire by 60 days and allow shipping to resume through the Strait of Hormuz sent crude oil prices sharply lower, reducing the inflation and supply-shock premium that had been underpinning gold demand. 

While the deal has yet to receive formal approval from both governments — and the market remains alert to the risk of a diplomatic reversal given previous false starts — the directional shift in sentiment was enough to pull gold lower through Friday’s session. Gold is a long-term store of value and an enduring hedge against inflation, and while short-term price movements reflect macro and geopolitical noise, analysts continue to view the metal’s structural demand from Indian households, jewellery buyers and central banks as a durable floor beneath prices.

City-Wise Gold Rates: Southern and Western India

Chennai remained the most expensive gold market among India’s major cities on Friday, quoting 24-karat gold at ₹1,59,280 per 10 grams, 22-karat at ₹1,46,000 and 18-karat at ₹1,22,550 — a structural premium over the national benchmark that reflects the deep-rooted jewellery demand culture of Tamil Nadu and the pricing authority of local bullion associations, which have consistently maintained a premium throughout the recent volatile period. Mumbai, Kolkata, Bangalore, Hyderabad, Kerala and Pune were all uniformly pegged at the national benchmark of ₹1,57,640 for 24-karat, ₹1,44,500 for 22-karat and ₹1,18,230 for 18-karat gold per 10 grams, each declining in line with the national rate from Wednesday’s close.

Delhi quoted 24-karat gold at ₹1,57,790 per 10 grams, 22-karat at ₹1,44,650 and 18-karat at ₹1,18,380 on Friday — a marginal premium above the national benchmark consistent with the capital’s higher dealer margins and its status as one of India’s largest retail jewellery markets. Vadodara and Ahmedabad were both quoted at ₹1,57,690 for 24-karat, ₹1,44,550 for 22-karat and ₹1,18,280 for 18-karat gold per 10 grams, in line with Gujarat’s convention of pricing modestly above Mumbai. 

Across all cities, Friday’s declines were uniform and proportional, confirming that the correction was driven by national macro forces rather than any city-specific demand or supply factor.

Gold Rates (10 gm) Across Major Indian Cities – Friday, May 29, 2026

Source: goodreturns.in | Friday, May 29, 2026