Gold rate today, May 28 -- Gold prices on the Multi Commodity Exchange (MCX) plunged in the evening session on Thursday, 28 May, as fresh strikes by the US and Iran boosted crude oil prices, reigniting inflation fears and the scope of higher interest rates later this year.

MCX gold futures for the June expiry slipped as much as Rs.2,041 per 10 grams, or 1.31%, to Rs.153,586. Trading resumed after being shut in the first half on account of the Bakri Id holiday. The domestic prices mirrored the weakness in global markets.

Spot gold was down 1.5% at $4,389.99 per ounce, earlier falling to its lowest level since 26 March. US gold futures for June delivery fell 1.5% to $4,387.70.

Oil prices rose 2% today after Iran's Revolutionary Guards sa...