On May 2, gold prices in India experienced a decline after reaching an all-time high of nearly ₹1 lakh last week. As global market pressures ease, many investors are exploring safe-haven assets like gold and silver to stabilize their portfolios. This trend highlights the ongoing volatility in precious metal markets and the enduring appeal of these commodities for financial security.
Current Gold and Silver Prices in India
As of 7:40 AM on May 2, the MCX gold price was recorded at ₹92,390 per 10 grams, reflecting a modest increase of ₹51. The price of silver also saw a rise, climbing by ₹146 per kilogram to reach ₹94,875/kg. According to the Indian Bullion Association (IBA), 24-carat gold is valued at ₹92,660 for every 10 grams, while 22-carat gold is priced at ₹84,938 per 10 grams. Meanwhile, the cost of 999 Fine silver stands at ₹94,930/kg.
City-Wise Gold and Silver Prices on May 2
With the onset of May, let’s explore the prices of gold and silver across major cities in India:
Gold and Silver Prices in Mumbai
- Gold bullion rate: ₹92,490/10 gm
- MCX Gold rate: ₹92,390/10 gm
- Silver bullion rate: ₹94,760/kg
- MCX Silver 999 rate: ₹94,875/kg
Gold and Silver Prices in Bengaluru
- Gold bullion rate: ₹92,570/10 gm
- MCX Gold rate: ₹92,390/10 gm
- Silver bullion rate: ₹94,840/kg
- MCX Silver 999 rate: ₹94,875/kg
Gold and Silver Prices in New Delhi
- Gold bullion rate: ₹92,330/10 gm
- MCX Gold rate: ₹92,390/10 gm
- Silver bullion rate: ₹94,600/kg
- MCX Silver 999 rate: ₹94,875/kg
Gold and Silver Prices in Chennai
- Gold bullion rate: ₹92,760/10 gm
- MCX Gold rate: ₹92,390/10 gm
- Silver bullion rate: ₹95,040/kg
- MCX Silver 999 rate: ₹94,875/kg
Gold and Silver Prices in Kolkata
- Gold bullion rate: ₹92,370/10 gm
- MCX Gold rate: ₹92,390/10 gm
- Silver bullion rate: ₹94,640/kg
- MCX Silver 999 rate: ₹94,875/kg
As the market continues to fluctuate, gold and silver remain key assets for investors looking to navigate these uncertain times. The current prices reflect a blend of global influences and local demand, making it essential for investors to stay informed about market trends.
