Mumbai: Gold and silver prices in India’s retail market remained largely steady on Sunday, May 3, with only minor fluctuations observed in both 24-karat and 22-karat gold rates across major cities. Silver prices also showed limited movement in the domestic bullion market.
As the Multi Commodity Exchange of India remains closed on Saturdays and Sundays, live trading data was not available. Based on Friday’s closing levels, gold continued to trade above the ₹1.5 lakh mark, though it recorded a slight decline compared to recent sessions.
At around 10:35 am on Sunday, the price of 24-karat gold in India was ₹151,820 per 10 grams, while 22-karat gold was quoted at ₹139,168 per 10 grams in the physical bullion market. Silver (999 fine) was priced at ₹251,190 per kilogram, according to data provided by the Indian Bullion Association. So let us know the prices of gold and silver in different cities across the corner of India.
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On May 3, gold and silver prices showed slight variations across major Indian cities. In Mumbai, the rate for 24 karat gold stood at ₹151,550 per 10 grams, while 22 karat gold was priced at ₹138,921 per 10 grams. Silver (999 fine) was recorded at ₹250,740 per kilogram. In New Delhi, 24 karat gold was slightly lower at ₹151,290 per 10 grams, with 22 karat gold at ₹138,683 per 10 grams and silver at ₹250,310 per kilogram. Meanwhile, Ahmedabad reported 24 karat gold at ₹151,750 and 22 karat gold at ₹139,104 per 10 grams, while silver was priced at ₹251,070 per kilogram.
In Bengaluru, the price of 24 karat gold was ₹151,670 per 10 grams and 22 karat gold was ₹139,031, with silver at ₹250,940 per kilogram.
Kolkata recorded 24 karat gold at ₹151,350 and 22 karat gold at ₹138,738 per 10 grams, while silver stood at ₹250,410 per kilogram.
In Hyderabad, 24 karat gold was priced at ₹151,790 and 22 karat gold at ₹139,141 per 10 grams, with silver at ₹251,140 per kilogram. Lastly, Chennai reported the highest among these cities, with 24 karat gold at ₹151,990 and 22 karat gold at ₹139,324 per 10 grams, while silver reached ₹251,470 per kilogram.
Significantly, gold rates in the previous year experienced their strongest bull run since 1979, rising over 75% while in recent months, gold prices have risen modestly amid strong safe-haven demand and global economic uncertainty.
In India, gold made an appreciation of around 16% as in January it was around Rs.135,257 and it went onto Rs.157,480 till March. In May, the precious metal is trading below those bar as investors have booked their profits.
Talking about Silver, the prices have increased since 2023-2024 which was at Rs.78,600/kg to over Rs. 2,00,000/kg in 2062 because of strong demand and currency fluctuations.
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