Gold Price In India – Gold and silver prices drop sharply across India today, May 21. Check latest rates in Delhi, Mumbai, Chennai, and Bengaluru. Know what’s driving this fall and how to check gold purity before you buy.
Gold Price Crashes in India: Buyers Rush as Rates Fall on May 21
The buzz is real. Gold prices just took a dip across major Indian cities, and buyers couldn’t be happier. On Wednesday, May 21, both 22-carat and 24-carat gold became cheaper,sparking interest among wedding shoppers and investors alike.
Delhi, Mumbai, Chennai – All See Lower Rates
In Delhi, the price of 10 grams of 24-carat gold dropped to Rs 95,160, while 22-carat slipped to Rs 87,240. Mumbai, Chennai, and Bengaluru followed closely with 24-carat gold priced at Rs 95,010 and 22-carat at Rs 87,090. Even Hyderabad mirrored these figures, showing just how wide this fall is spreading.
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Silver Prices Slide Too, But Not Everywhere
Silver joined gold in its downward journey. In Delhi, Mumbai, Kolkata, and Pune, 1 kg of silver now costs Rs 96,900. But here’s the odd part Chennai and Hyderabad still show higher rates at Rs 1,07,900 per kg. It’s not clear why they’re holding steady while other cities drop. Local taxes? Maybe. But people are definitely noticing.
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Why Are Prices Falling? It’s Not Just Local Demand
You might think it’s because people are buying less gold here. But actually, prices in India often move based on global trading markets, like COMEX and the London OTC. When prices dip there, India feels it too. Plus, things like international politics, currency changes, or what central banks are doing all that plays a big role.
Golden Chance for Buyers Before Wedding Season
For those planning weddings or big buys, this drop is a sweet surprise. Many were holding off, hoping for prices to cool. Now that it’s happened, stores are already seeing a rise in foot traffic. But let’s be honest gold prices don’t stay down for long.
Is Your Gold Real? Here’s How to Be Sure
Before you hand over your cash, check for the BIS hallmark, which looks like a triangle with “BIS” under it. Also, look for a 916 stamp on 22-carat gold. Some even go for an acid test to be extra sure. It’s always better to be safe than sorry.
Act Fast – Prices Might Bounce Back Soon
So, if you’ve been waiting this might just be your window. No one knows how long the dip will last.