Top News

Gold Price Today: Gold Softens Again, Silver Shines—Check Latest Rates in 10 Major Cities

Siddhi Jain | May 3, 2026 4:15 PM CST

Gold prices have slipped for the second straight day, while silver has staged a noticeable rebound, creating a mixed trend in the bullion market. On May 2, 2026, global uncertainty—especially tensions involving the United States and Iran—has influenced price movements, keeping investors cautious.

📉 Gold Prices See Continued Dip

In Delhi, gold prices declined marginally:

24K Gold (10g): ₹1,50,420 (↓ ₹10)
22K Gold (10g): ₹1,37,990 (↓ ₹10)

Over the last two days, the drop has been sharper:

24K gold down by ₹2,360
22K gold down by ₹2,160

This reflects short-term softness despite strong long-term demand expectations.

📊 City-Wise Gold Rates (10 grams)

Here’s how gold prices stand across major cities:

City	24K Gold	22K Gold	18K Gold
Delhi	₹1,50,420	₹1,37,990	₹1,12,830
Mumbai	₹1,50,370	₹1,37,840	₹1,12,780
Kolkata	₹1,50,370	₹1,37,840	₹1,12,780
Chennai	₹1,51,850	₹1,39,190	₹1,16,090
Bengaluru	₹1,50,370	₹1,37,840	₹1,12,780
Hyderabad	₹1,50,370	₹1,37,840	₹1,12,780
Lucknow	₹1,50,420	₹1,37,990	₹1,12,830
Patna	₹1,50,420	₹1,37,890	₹1,12,830
Jaipur	₹1,50,420	₹1,37,990	₹1,12,830
Ahmedabad	₹1,50,420	₹1,37,890	₹1,12,830

👉 Chennai remains the costliest market among major cities.

📈 Silver Prices Rise Sharply

After recent volatility, silver is gaining strength again:

Delhi Silver Price: ₹2,55,100 per kg (↑ ₹100 today)
In the last two days: ₹5,100 increase
Chennai leads with ₹2,64,900 per kg, making it the most expensive market

Silver’s recovery comes after a steep fall of nearly ₹10,000 earlier.

🌍 What’s Driving the Market?

Several global factors are shaping the trend:

Rising geopolitical tensions (US–Iran situation)
Volatility in crude oil and global markets
Investor shift between safe-haven assets

Gold often weakens slightly when investors book profits, while silver can gain due to industrial demand.

🔮 Gold Price Outlook

According to Goldman Sachs:

Short-term: Possible softness in gold prices
Long-term: Strong bullish outlook
Expected target: ₹1.63 lakh per 10 grams by end of 2026

This projection is supported by:

Central bank gold buying
Possible interest rate cuts in the US

🧠 What Should Investors Do?

Short-term traders: Expect volatility
Long-term investors: Gold still a strong hedge
Diversification: Consider balancing gold and silver

📌 Bottom Line

Gold may have lost some shine in the short term, but its long-term fundamentals remain strong. Meanwhile, silver is catching up quickly, offering opportunities for investors looking for growth alongside stability.

If you're planning to invest, keep an eye on global cues and don’t rely solely on daily price movements.