Gold prices fell sharply today, May 1, 2025, by Rs 2,300 on account of dramatic turbulence in the markets and associated buying before prices go up again.The sudden price drop that shocked everyone investors jewellers and just about anyone else in a sense has come two days after prices had almost touched the Rs 1 lakh mark thereby awakening the interests of gold buyers all over the country.
Today was an Opportunity to Buy Gold at Cheap Prices
22-K gold, in fact, stood at Rs 87,700 per 10 grams, while the price for 24-K was Rs 95,700. These rates are well below yesterday’s figures and, therefore, have given a great chance for buyers to hit jewellery shops and online buying platforms. For a lot of buyers however this is the golden time to enter before a price recovery.
Delhi, Jaipur, and Lucknow Setting New Price Patterns
Gold prices are different all over India. Cities like Delhi, Jaipur, Noida, Ghaziabad, and Lucknow are charging Rs 87,900 for 22K and Rs 95,880 for 24K per 10 grams. This price is slightly higher than the southern and eastern cities but lower than last week’s peak.
Mumbai, Chennai, and Kolkata Show Some Lower Rates
Cities like Chennai, Bangalore, Patna, Mumbai, and Kolkata quote today for 22-carat gold (Rs. 87,750) and 24-carat gold (Rs. 95,730) per 10 grams. Though the variation is minor. It is worth taking note of by people planning to make serious purchases.
Silver Below Rs. 1 Lakh-A Double Treat for Customers
And in a further SHAKE up of the precious METALS, silver has also gone below the Rs. 1 lakh mark per kg. Such a double casualty for both gold and silver isn’t COMMON and anything associated with international market. An erratic demand culture, and currency stability in the short run offers a context.
Festive Demand Might Just Trigger a Push Upwards for Prices
Although welcome by today’s standards, the prices might still rise later according to experts. With the wedding season on steam and festivals drawing nearer demand for gold will be picking up again which will likely mean that prices will rise in the weeks to come.