As of May 1, gold prices in India have experienced a slight decline due to easing pressures in the global market. However, for investors looking to safeguard their assets, gold continues to be a preferred safe haven. Remarkably, since April 30, coinciding with Akshaya Tritiya, gold prices have surged by 30% from 2024 to 2025, while in the past few years, the value has skyrocketed by 100%, according to industry analyses.
Current Gold and Silver Prices in India
On the morning of May 1, the MCX gold index reported a price of ₹94,611 per 10 grams, marking a decrease of ₹91 per 10 grams. In contrast, the price of silver saw a significant drop, falling by ₹2,301 to settle at ₹94,561 per kilogram.
Gold Pricing Breakdown
- 24-carat gold: ₹94,880 per 10 grams
- 22-carat gold: ₹86,973 per 10 grams
- Silver (999 Fine): ₹95,950 per kg
Market Activity on May Day
Notably, May 1 is recognized as Workers’ Day across India, and this year, it coincides with Maharashtra Day in Mumbai. Due to the holiday, gold trading on the MCX has been paused during the first half of the day but will resume from 5 PM to 11:30 PM.
City-Specific Gold and Silver Rates
As we step into May, here’s a quick glance at the gold and silver prices across major Indian cities:
Mumbai
- Gold Bullion Rate: ₹94,710 per 10 grams
- MCX Gold Rate: ₹94,611 per 10 grams
- Silver Bullion Rate: ₹95,780 per kg
- MCX Silver 999 Rate: ₹94,561 per kg
Chennai
- Gold Bullion Rate: ₹94,990 per 10 grams
- MCX Gold Rate: ₹94,611 per 10 grams
- Silver Bullion Rate: ₹96,060 per kg
- MCX Silver 999 Rate: ₹94,561 per kg
Kolkata
- Gold Bullion Rate: ₹94,580 per 10 grams
- MCX Gold Rate: ₹94,611 per 10 grams
- Silver Bullion Rate: ₹95,650 per kg
- MCX Silver 999 Rate: ₹94,561 per kg
Hyderabad
- Gold Bullion Rate: ₹94,860 per 10 grams
- MCX Gold Rate: ₹94,611 per 10 grams
- Silver Bullion Rate: ₹95,930 per kg
- MCX Silver 999 Rate: ₹94,561 per kg
Bengaluru
- Gold Bullion Rate: ₹94,780 per 10 grams
- MCX Gold Rate: ₹94,611 per 10 grams
- Silver Bullion Rate: ₹95,850 per kg
- MCX Silver 999 Rate: ₹94,561 per kg
Delhi
- Gold Bullion Rate: ₹94,550 per 10 grams
- MCX Gold Rate: ₹94,611 per 10 grams
- Silver Bullion Rate: ₹95,610 per kg
- MCX Silver 999 Rate: ₹94,561 per kg
Conclusion
As gold remains a stable investment choice amid fluctuating markets, investors are encouraged to keep an eye on the latest prices and trends. Whether you are purchasing gold for a special occasion or as a long-term investment, understanding current rates across cities can help you make informed decisions.
For those interested in the performance of Gold ETFs, it’s worth noting that they delivered an impressive 21% annualized return over the past three years. Stay tuned for further updates on gold and silver market trends!
