Gold Hits ₹95,500—See What’s Driving the Drop in Prices
Gold Price Dips Slightly to ₹95,500, Silver Falls ₹100—Check Rates Across Indian Cities
Gold and silver prices in India saw a small decline in early trade on Saturday, giving potential buyers a new opportunity to consider investing. While the dip isn’t drastic, it marks another moment in a volatile week for precious metals both in India and globally.
Gold and Silver Price Update: May 3, 2025
24-Carat Gold Price Falls ₹10
According to the GoodReturns website, the price of 24-carat gold dropped by ₹10, now selling at ₹95,500 per 10 grams. This marks a modest decline but continues the downward trend seen over the past week.
22-Carat Gold Sees Small Rise
Interestingly, 22-carat gold moved in the opposite direction, rising ₹10 to ₹87,540 per 10 grams. This minor increase shows that investor demand for traditional gold jewellery remains stable.
Silver Price Down ₹100
Silver prices dropped ₹100, with 1 kg of silver now trading at ₹97,900 in major Indian cities including Delhi, Mumbai, and Kolkata.
City-Wise Gold Prices 10 grams
Here’s a quick look at how gold is priced in key metro cities:
24-Carat Gold
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Mumbai: ₹95,500
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Delhi: ₹95,650
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Kolkata: ₹95,500
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Chennai: ₹95,500
22-Carat Gold
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Mumbai: ₹87,540
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Delhi: ₹87,690
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Kolkata: ₹87,540
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Chennai: ₹87,540
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Hyderabad & Bengaluru: ₹87,540
Silver Prices Across India 1 Kg
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Mumbai: ₹97,900
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Delhi: ₹97,900
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Kolkata: ₹97,900
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Chennai: ₹1,09,100 (Highest among metros)
Global Gold Market: Why Prices Are Falling
Easing US-China Tensions Pressure Prices
Gold prices in the international market also fell this week. The spot price dropped 0.2% to $3,233.30 an ounce, marking a 2.6% weekly decline. The fall is mainly due to improving trade relations between the United States and China, and a strong U.S. jobs report that reduced gold’s appeal as a safe-haven asset.
Gold had previously hit a record high of $3,500.05 per ounce on April 22, but has since corrected to lower levels.
US Gold Futures Edge Up Slightly
Despite the overall drop, US gold futures were up 0.6% at $3,241.70, indicating some optimism among traders expecting a rebound.
Other Precious Metals Also Decline
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Spot Silver: Down 1.2% to $32.01/ounce
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Platinum: Down 0.2% to $958.70/ounce
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Palladium: Up 0.5% to $945.25/ounce
All these metals, except palladium, were on track to end the week in the red.
What’s Driving the Trends
1. Strong U.S. Economic Data
A better-than-expected U.S. jobs report suggests a healthier economy, lowering the need for safe-haven assets like gold and silver.
2. Improved US-China Relations
With trade tensions cooling, investors are feeling less inclined to park money in gold, which usually spikes during geopolitical uncertainty.
3. Profit Booking
Many investors who bought gold during the price spike in April are now booking profits, adding downward pressure to prices.
4. Local Demand Steady
In India, wedding season and religious festivals keep domestic demand for gold relatively steady—especially for 22-carat jewellery.
Gold Price Outlook for FY26
Market experts believe gold prices could swing between a 7% drop and a 20% gain in FY26. This wide range is due to global uncertainties, inflation trends, and central bank gold purchases.
So, while prices have dropped today, volatility is expected to continue, giving both buyers and sellers chances to act smartly.
Should You Buy Gold Now
Here’s a simple breakdown:
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Yes, if you’re buying for long-term investment or jewellery during the wedding season.
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Wait, if you’re looking to buy in bulk hoping for further price drops.
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No rush, if your investment goals are short-term and profit-driven, as global prices may see further correction.
Today’s gold price dip may be small, but it reflects broader market sentiment. With geopolitical risk lower and strong economic data from the U.S., gold may continue to feel pressure in the short term. However, the long-term outlook remains strong, especially in India where gold remains both an investment and a cultural asset.
