Gold Prices Drop at Start of Week: Check Latest Rates in Delhi, Mumbai and Other Cities
Gold prices in India started the week on a weaker note, with rates slipping across major cities on Monday, May 4, 2026. Both 22-carat and 24-carat gold witnessed a noticeable decline, while silver prices also showed mixed movement despite a strong weekly rise.
The fall in gold rates reflects both domestic demand conditions and global market trends, which continue to influence precious metal prices.
Gold Prices Fall Across Major Cities
On Monday morning, gold prices declined in key metropolitan areas:
- Delhi:
- 24K Gold: ₹1,51,220 per 10 grams
- 22K Gold: ₹1,38,500 per 10 grams
- Mumbai & Kolkata:
- 24K Gold: ₹1,50,920 per 10 grams
- 22K Gold: ₹1,38,340 per 10 grams
- Chennai:
- 24K Gold: ₹1,52,720 per 10 grams
- 22K Gold: ₹1,39,990 per 10 grams
- Pune & Bengaluru:
- 24K Gold: ₹1,50,920 per 10 grams
- 22K Gold: ₹1,38,340 per 10 grams
Other cities like Ahmedabad, Jaipur, Lucknow, Bhopal, and Chandigarh also reported similar price trends, indicating a nationwide decline.
Weekly Trend: Gold Becomes Cheaper
Over the past week, gold prices have seen a significant correction:
- 24-carat gold has dropped by around ₹2,960
- 22-carat gold has fallen by approximately ₹2,850
This decline has made gold slightly more attractive for buyers who were waiting for a price dip.
What’s Happening in the Global Market?
Internationally, spot gold is currently trading near $4,627.63 per ounce, reflecting ongoing fluctuations in global demand, currency movements, and economic indicators.
Global cues such as inflation trends, interest rates, and geopolitical developments continue to play a major role in determining gold prices in India.
Silver Prices Show Mixed Movement
Silver prices also witnessed a slight dip on Monday:
- Silver Rate: ₹2,64,900 per kilogram
However, on a weekly basis, silver has surged by nearly ₹5,000, indicating strong demand and volatility in the commodity market.
In global markets, spot silver is trading around $75.91 per ounce.
Why Gold and Silver Prices Change
Prices of precious metals are influenced by multiple factors, including:
- Global economic conditions
- Inflation and interest rates
- Currency fluctuations (especially the US dollar)
- Local demand during wedding and festive seasons
Both domestic and international developments together shape daily price movements.
Final Thoughts
The drop in gold prices at the beginning of the week offers a potential opportunity for buyers and investors. However, market volatility remains high, and prices can change quickly based on global cues.
If you’re planning to invest, it’s important to track trends regularly and consider a phased buying strategy instead of investing all at once.
