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Gold Prices Falls On May 02: Check latest rates in Delhi, Kolkata, Chennai, Mumbai, Hyderabad, Kolkata.
Check latest prices in your city on May 2.
Gold Rates Falls Today In India: Gold price in India continues to fall after hitting the psychological mark of Rs 1 lakh recently. The sharp drop comes amidst improving market sentiment due to easing of trade tensions between the US and several major trading partners.
In Mumbai, the price of gold on May 2 fell to Rs 87,740 per 10 gram for 22-carat and Rs 95,720 per 10 gram for 24-carat.
Gold prices increased for the past few months amid global economic uncertainties and US recession fears and crossed the Rs 1 lakh mark.
Known for its unmatched purity, 24-carat gold continues to attract buyers seeking premium quality. Meanwhile, 22-carat gold, prized for its durability and timeless charm, remains a favourite among jewellery enthusiasts and investors alike, striking a balance between elegance and practicality.
Here’s a detailed breakdown of gold prices across key cities (May 02, 2025):
| City | 22K Gold (per 10gm) | 24K Gold (per 10gm) |
|---|---|---|
| Delhi | Rs 87,890 | Rs 95,870 |
| Jaipur | Rs 87,890 | Rs 95,870 |
| Ahmedabad | Rs 87,790 | Rs 95,010 |
| Patna | Rs 87,790 | Rs 98,010 |
| Mumbai | Rs 87,740 | Rs 95,720 |
| Hyderabad | Rs 87,740 | Rs 95,720 |
| Chennai | Rs 87,740 | Rs 95,720 |
| Bengaluru | Rs 87,740 | Rs 95,720 |
| Kolkata | Rs 87,740 | Rs 95,720 |
Silver Price In India Today (May 02, 2025)
The price of silver also saw a fall of Rs 100 to Rs 97,900 per kg in Mumbai, according to goodreturns.in.
What Factors Affect Gold Prices In India?
International market rates, import duties, taxes, and fluctuations in exchange rates primarily influence gold prices in India. Together, these factors determine the daily gold rates across the country.
In India, gold is deeply cultural and financial. It is a preferred investment option and is key to celebrations, particularly weddings and festivals.
With constantly changing market conditions, investors and traders monitor fluctuations closely. Staying updated is crucial for effectively navigating dynamic trends.
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