After reaching historic highs at the end of April, gold prices across India have seen a notable decline over the past two weeks. The price of gold, which had briefly crossed the ₹1 lakh mark per 100 grams, has dropped significantly between May 12 and 16.
According to recent data, the price of 24-carat gold has fallen by ₹35,500 per 100 grams during this period. Similarly, the price of 10 grams of 24-carat gold declined by ₹3,500. This sharp correction is largely attributed to the impact of U.S. tariff policies, which have influenced global gold markets and subsequently domestic prices.
As of May 17, the rates stood as follows:
100 grams of 24-carat gold: ₹9,51,300
100 grams of 22-carat gold: ₹8,72,000
100 grams of 18-carat gold: ₹7,13,500
10 grams of 24-carat gold: ₹95,130
Market analysts suggest that continued fluctuations in international trade policies, along with changes in demand and currency exchange rates, may further impact gold prices in the coming weeks. Buyers and investors are advised to keep a close watch on daily rate updates before making significant purchases.