Gold Price Crash: The past week saw significant volatility in gold and silver prices. From the MCX to the domestic market, gold prices declined throughout the week. Starting with the MCX Gold Rate, the contract expiring on June 5 closed on Friday at ₹152,799 per 10 grams. Prior to this, on April 17, its closing rate stood at ₹154,609. Based on these figures, gold prices have declined by ₹1,810 per 10 grams.
Key Takeaways
Quick Read- Gold Price Crash:
- MCX Gold Performance
- IBJA Domestic Rates (Friday Close)
- City-wise Gold Rates (24-carat, Friday)
In January of this year, gold prices crossed the ₹200,000 per 10-gram mark for the very first time. The all-time high for gold on the MCX stands at ₹202,984; compared with current market rates, gold is trading at a discount of ₹50,185 per 10 grams.
MCX Gold Performance
- MCX Gold (June 5 contract) closed at ₹1,52,799 per 10 grams on Friday
- Weekly decline of ₹1,810 per 10 grams (from ₹1,54,609 on April 17)
- Gold is trading ₹50,185 below its all-time MCX high of ₹2,02,984
IBJA Domestic Rates (Friday Close)
- 24-carat: ₹1,51,479 | 23-carat: ₹1,50,872 | 22-carat: ₹1,38,755
- 18-carat: ₹1,13,609 | 14-carat: ₹88,615
- Marginal weekly decline of ₹180 recorded across the week
City-wise Gold Rates (24-carat, Friday)
- Delhi: ₹1,54,200 — highest among metros
- Mumbai & Kolkata: ₹1,54,050 — identically priced
- Chennai: ₹1,53,810 — most affordable among major cities
According to the IBJA, the price of 24-carat gold in the domestic market stood at ₹151,655 per 10 grams; over the week, a marginal decline was recorded. By the time the market closed on Friday, the price had settled at ₹151,475.
IBJA Friday Gold Rates
24-Carat Gold: ₹151,479 per 10 grams
23-Carat Gold: ₹150,872 per 10 grams
22-Carat Gold: ₹138,755 per 10 grams
18-Carat Gold: ₹113,609 per 10 grams
14-Carat Gold: ₹88,615 per 10 grams
Gold Prices in Delhi
24-Carat Gold (10 grams) – ₹154,200
22-Carat Gold (10 grams) – ₹141,360
18-Carat Gold (10 grams) – ₹115,590
Gold Rates in Mumbai
24-Carat Gold (10 grams) – ₹154,050
22-Carat Gold (10 grams) – ₹141,210
18-Carat Gold (10 grams) – ₹115,540
Gold Prices in Kolkata
24-Carat Gold (10 grams) – ₹154,050
22-Carat Gold (10 grams) – ₹141,210
18-Carat Gold (10 grams) – ₹115,540
Gold Prices in Chennai
24-Carat Gold (10 grams) – ₹153,810
22-Carat Gold (10 grams) – ₹140,990
18-Carat Gold (10 grams) – ₹117,590
How much has silver become cheaper?
Speaking of the domestic market, according to the website of the Indian Bullion Jewellers Association (IBJA.com), silver has become cheaper by ₹6,115 per kilogram. On April 17, the price of 1 kg of silver closed at ₹249,940, whereas on Friday, it closed at ₹243,825.
