Gold Prices Drop by Rs 5,000 Per 10 Grams Amid Market Correction

Image Source : Times Bull

Gold prices in India have witnessed a sharp decline for the second consecutive day, with rates falling by approximately Rs 5,000 per 10 grams. The correction comes after the yellow metal recently touched a record high of Rs 1 lakh per 10 grams, now settling around Rs 95,000.

Market Trends and Analysis:

- The price drop is attributed to easing geopolitical tensions and reduced demand for safe-haven assets like gold.

- International gold prices have also seen a correction, slipping from $3,500 per ounce in April to approximately $3,140 per ounce.

- Analysts suggest that the downtrend may continue, with some predicting further declines if global economic conditions stabilize.

- Domestic gold rates could potentially fall to Rs 55,000–Rs 60,000 per 10 grams if international prices drop significantly.

- Investors are advised to monitor market trends closely, as gold remains a strong long-term investment despite short-term fluctuations.

City-wise gold rates for May 17, 2025:

Delhi: Rs 87,360 (22K), Rs 95,290 (24K)
Mumbai: Rs 87,210 (22K), Rs 95,140 (24K)
Kolkata: Rs 87,210 (22K), Rs 95,140 (24K)
Chennai: Rs 87,210 (22K), Rs 95,140 (24K)
Ahmedabad: Rs 87,260 (22K), Rs 95,190 (24K)
Bengaluru: Rs 87,210 (22K), Rs 95,140 (24K)
Hyderabad: Rs 87,210 (22K), Rs 95,140 (24K)

Experts highlight that gold prices fluctuate due to factors such as global demand, exchange rates, interest rates, and government regulations. Investors are encouraged to stay informed about market movements to make strategic financial decisions.

Sources: India TV News, News18, GoldRate.com.