Gold Prices Dip Slightly on May 3 Amid Dollar Volatility and Trade Signals-Check out Today’s Prices

After peaking near ₹1 lakh last month, gold prices have slipped by ₹7,000. Check the latest gold and silver rates across top Indian cities — Mumbai, Delhi, Bengaluru, Chennai, Hyderabad, and Kolkata.

May 4, 2025: Gold prices across India saw a slight uptick on May 3, even as overall rates have dropped nearly ₹7,000 since the all-time high of ₹99,358/10g recorded on April 22. The recent decline comes amid easing global trade tensions, a fluctuating dollar index, and anticipation around US economic policy shifts under Donald Trump.

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Despite the drop, investors continue to prefer gold and silver as safe-haven assets, especially during global uncertainty.

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🟡 National Gold and Silver Benchmarks (as of May 3, 2025, 8:40 AM):

• 24-Carat Gold: ₹92,980 per 10 grams (Indian Bullion Association)
• 22-Carat Gold: ₹85,232 per 10 grams
• Silver (999 Fine): ₹94,130 per kilogram
• MCX Gold: ₹92,700 per 10 grams (+₹63)
• MCX Silver: ₹94,063 per kilogram (−₹1)

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📍 City-wise Gold and Silver Rates — May 3, 2025:

Mumbai

• 24K Gold: ₹92,810/10g
• Silver: ₹93,960/kg

Bengaluru

• 24K Gold: ₹92,890/10g
• Silver: ₹94,030/kg

New Delhi

• 24K Gold: ₹92,650/10g
• Silver: ₹93,800/kg

Chennai

• 24K Gold: ₹93,080/10g
• Silver: ₹94,230/kg

Kolkata

• 24K Gold: ₹92,690/10g
• Silver: ₹93,830/kg

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🔍 Market Insight:

Gold’s current price correction is attributed to:

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• A stronger dollar index reversing gains.
• Lower trade war fears between the US and China.
• Investor rotation into equities after last month’s safe-haven surge.

Yet, analysts maintain that gold remains an attractive long-term asset, especially ahead of Akshaya Tritiya 2025 and amid global market uncertainties.

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Tags:
Gold prices India, Silver rates May 3, MCX Gold, Bullion update, Dollar vs Rupee, Commodity news, Chennai gold price, Delhi gold rate, Mumbai silver price, Akshaya Tritiya 2025