Gold prices in India continued their downward trend for the second consecutive session on May 5, slipping marginally across key markets. The decline comes amid a stronger American dollar and diminishing demand for safe-haven assets following de-escalation in West Asia.
In the national capital Delhi, 24-carat gold became cheaper by ₹10 to trade at ₹1,49,760 per 10 grams on Monday. Similarly, 22-carat gold also declined by ₹10, settling at ₹1,37,290 per 10 grams. Over the past two trading sessions, 24K gold has cumulatively lost ₹1,320 per 10 grams, while 22K gold has shed ₹1,210 per 10 grams.
Silver prices also snapped a two-day stable streak in Delhi. The white metal declined by ₹100 per kilogram as market sentiment remained subdued.
City-Wise Gold Prices Today
In Mumbai, Kolkata, Bengaluru, and Hyderabad, 24K gold maintained uniformity at ₹1,49,610 per 10 grams. Chennai recorded the highest rate among major cities at ₹1,52,720 per 10 grams. Lucknow and Jaipur quoted identical rates of ₹1,49,760, while Patna and Ahmedabad stood at ₹1,49,660 per 10 grams for the purest form of the metal.
For 22K gold, Delhi, Lucknow, and Jaipur registered ₹1,37,290 per 10 grams. Mumbai, Kolkata, Bengaluru, and Hyderabad traded at ₹1,37,140, while Chennai remained elevated at ₹1,39,990 per 10 grams. The 18K variant prices ranged between ₹1,12,210 and ₹1,16,790 across monitored cities.
City-wise Gold Rates
Let’s find out the price of 10 grams of gold—in 18-carat, 22-carat, and 24-carat purity—across the country’s 10 major cities.
| City | 24 Carat (10 Grams) | 22 Carat (10 Grams) | 18 Carat (10 Grams) |
| Delhi | ₹1,49,760 | ₹1,37,290 | ₹1,12,360 |
| Mumbai | ₹1,49,610 | ₹1,37,140 | ₹1,12,210 |
| Kolkata | ₹1,49,610 | ₹1,37,140 | ₹1,12,210 |
| Chennai | ₹1,52,720 | ₹1,39,990 | ₹1,16,790 |
| Bengaluru | ₹1,49,610 | ₹1,37,140 | ₹1,12,210 |
| Hyderabad | ₹1,49,610 | ₹1,37,140 | ₹1,12,210 |
| Lucknow | ₹1,49,760 | ₹1,37,290 | ₹1,12,360 |
| Patna | ₹1,49,660 | ₹1,37,190 | ₹1,12,260 |
| Jaipur | ₹1,49,760 | ₹1,37,290 | ₹1,12,360 |
| Ahmedabad | ₹1,49,660 | ₹1,37,190 | ₹1,12,260 |
Market Outlook
According to Kranti Bathini, Research Director at WealthMills Securities, gold remains under pressure due to dollar strength and elevated crude oil prices. Rising crude increases dollar demand, indirectly weighing on bullion. Reduced probability of US interest rate cuts has further contributed to the downward bias. Bathini noted that gold is currently in a consolidation phase following the sharp rally of recent years.
Global investment bank Goldman Sachs maintains a bullish long-term stance. The firm expects central bank purchases and anticipated US rate cuts to drive gold prices higher. Goldman Sachs projects gold reaching ₹1.63 lakh per 10 grams ($5,400 per ounce) by the end of this year, though it cautioned about short-term softness.
