Gold Rate Update: Prices Drop by ₹5,366 in 11 Days; Silver Also Sees Sharp Decline
The bullion market continues to display volatility, with both gold and silver prices registering notable declines over recent days. Despite a slight uptick in gold rates today, the overall trend in the last two weeks has been downward.
According to the India Bullion and Jewellers Association (IBJA), the rate of 24-carat gold increased by ₹220 today, bringing the price to ₹93,734 per 10 grams. However, compared to April 22, when the rate stood at ₹99,100, gold has seen a cumulative drop of ₹5,366 over the past 11 days.
Silver Prices Also Fall Sharply
Silver, too, has witnessed a substantial drop. On Monday, the price of silver fell by ₹407, settling at ₹93,718 per kilogram. This marks a significant reduction from its March 28 high of ₹1,00,934, amounting to a total decline of ₹7,216.
Gold Prices in Major Cities (May 5, 2025)
City 22Carat Gold 24Carat Gold
Delhi ₹87,800 ₹95,880
Mumbai ₹87,750 ₹95,730
Kolkata ₹87,750 ₹95,730
Chennai ₹87,750 ₹95,730
Bhopal ₹87,800 ₹95,780
Consumer Advisory: What to Keep in Mind While Buying Gold
Customers are advised to take necessary precautions while purchasing gold:
Insist on BIS Hallmarked Gold: Look for the Hallmark Unique Identification (HUID) number (e.g., AZ4524), which certifies purity.
Check Pricing by Carat: Gold prices vary by purity level — 24K, 22K, and 18K.
Verify Rates from Official Sources: Use the IBJA website or trusted jewelers for up-to-date rates.
Prefer Digital Payments: Use UPI, credit/debit cards, or verified online platforms and always ask for a bill.
Examine Packaging: Particularly for online purchases, inspect the packaging and certification carefully.