Gold Prices Fall On May 3: Check Latest Bullion Rates In Delhi, Mumbai, Bengaluru, Chennai
Gold Price Today, May 3: In Mumbai, the price of gold on Saturday, May 3, stood at Rs 87,550 per 10 gram for 22-carat and Rs 95,510 per 10 gram for 24-carat.
Gold Rates Falls Today In India: Gold price in India has witnessed a downward pressure after hitting the psychological mark of Rs 1 lakh recently, falling by over Rs 7,000 from its peak. On Saturday, the gold prices fell, after increasing by 1.5 per cent on Friday. In Mumbai, the price of gold on Saturday, May 3, stood at Rs 87,550 per 10 gram for 22-carat and Rs 95,510 per 10 gram for 24-carat.
On Friday, the price of gold had stood at Rs 87,740 per 10 grams (22 carats) and Rs 95,720 per 10 grams (24 carats).
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Also Read: Gold Prices Fall Over Rs 7,000 From Peak: Is It Good Time To Buy?
Recently, gold prices hit the Rs 1 lakh mark after increasing for the past few weeks amid global economic uncertainties and US recession fears.
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.
| City | 22K Gold (per 10gm) | 24K Gold (per 10gm) |
|---|---|---|
| Delhi | Rs 87,700 | Rs 95,660 |
| Jaipur | Rs 87,700 | Rs 95,660 |
| Ahmedabad | Rs 87,600 | Rs 95,560 |
| Patna | Rs 87,600 | Rs 95,560 |
| Mumbai | Rs 87,550 | Rs 95,510 |
| Hyderabad | Rs 87,550 | Rs 95,510 |
| Chennai | Rs 87,550 | Rs 95,510 |
| Bengaluru | Rs 87,550 | Rs 95,510 |
| Kolkata | Rs 87,550 | Rs 95,510 |
Silver Price In India Today (May 03, 2025)
The price of silver also increased by Rs 100 to Rs 98,000 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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