As of May 3, 2025, gold prices have seen a slight dip following recent fluctuations in the dollar’s value, updates on tariffs related to former President Donald Trump, and new macroeconomic data from the United States. After achieving an all-time high of ₹99,358 per 10 grams on April 22, the price of gold has decreased by nearly ₹7,000, reflecting easing trade tensions, particularly between the U.S. and China. Despite these changes, many investors continue to turn to gold and silver as reliable safe-haven investments.
Current Gold Prices in India
On May 3, the MCX gold prices were reported at ₹92,700 per 10 grams, showing a modest increase of ₹63. Meanwhile, the silver market experienced a slight decline, with prices dropping by ₹1 per kilogram, bringing it to ₹94,063. Here’s a breakdown of gold prices in various cities across India:
- 24-carat Gold: ₹92,980/10 gm
- 22-carat Gold: ₹85,232/10 gm
- Silver: ₹94,130/kg (Silver 999 Fine)
Gold and Silver Prices Across Major Cities
Let’s take a closer look at the gold and silver prices in key Indian cities as of May 3, 2025:
Mumbai
- Gold Bullion Rate: ₹92,810/10 gm
- MCX Gold Rate: ₹92,700/10 gm
- Silver Bullion Rate: ₹93,960/kg
- MCX Silver 999 Rate: ₹94,063/kg
Bengaluru
- Gold Bullion Rate: ₹92,890/10 gm
- MCX Gold Rate: ₹92,700/10 gm
- Silver Bullion Rate: ₹94,030/kg
- MCX Silver 999 Rate: ₹94,063/kg
New Delhi
- Gold Bullion Rate: ₹92,650/10 gm
- MCX Gold Rate: ₹92,700/10 gm
- Silver Bullion Rate: ₹93,800/kg
- MCX Silver 999 Rate: ₹94,063/kg
Chennai
- Gold Bullion Rate: ₹93,080/10 gm
- MCX Gold Rate: ₹92,700/10 gm
- Silver Bullion Rate: ₹94,230/kg
- MCX Silver 999 Rate: ₹94,063/kg
Kolkata
- Gold Bullion Rate: ₹92,690/10 gm
- MCX Gold Rate: ₹92,700/10 gm
- Silver Bullion Rate: ₹93,830/kg
- MCX Silver 999 Rate: ₹94,063/kg
Summary
As the month of May unfolds, potential investors are weighing their options in light of the fluctuating gold and silver prices. With the current market conditions, many are asking whether it’s the right time to invest in gold or shift focus to silver. As always, it’s essential to stay informed and consider market trends before making investment decisions. For more insights on precious metals, keep checking back for updates!
