Gold Price Drop Today: During this wedding season, gold and silver prices have been witnessing continuous fluctuations. The rates for gold and silver change daily. Today—May 20—a decline in the prices of both gold and silver was recorded in the Indian commodity market (MCX). In early trading on the MCX, gold was recorded at a lower price—down by over ₹1,100—while silver prices saw a drop of more than ₹3,000.
On the MCX, gold for June 5 delivery had closed at ₹159,080 per 10 grams in the previous session and opened today at ₹158,974. In early trading, it was trending at ₹157,959 per 10 grams, marking a decline of ₹1,121. Meanwhile, by 10:00 AM, gold for June 5 delivery had reached ₹158,310 per 10 grams. Similarly, silver for July 3 delivery, which had closed at ₹270,119 in the previous session, opened today at ₹267,230. In early trading, it hovered around ₹266,877 and reached ₹267,332 by 10:00 AM. Overall, minute-by-minute fluctuations are being observed in the prices of both gold and silver.
Why the Decline in Gold and Silver Prices?
Pressure persists on gold and silver in the global commodity market due to a strengthening US dollar. Furthermore, following the recent decline in crude oil prices, investor interest has shifted toward other financial assets, prompting profit-taking in the bullion market.
Significant fluctuations in gold and silver prices were witnessed on Tuesday. While the prices of both metals remained stable on the Multi-Commodity Exchange (MCX) during the day, they declined overnight. According to data from the Indian Bullion and Jewellers Association (IBJA), a slight uptick in gold and silver prices was observed on Tuesday evening.
City-Wise Morning 10 AM Gold Rates
Delhi Gold Rates
24K – ₹158,500 Per 10 Grams
22K – ₹145,300 Per 10 Grams
18K – ₹118,910 Per 10 Grams
Mumbai Gold Rates
24K – ₹158,350 Per 10 Grams
22K – ₹145,150 Per 10 Grams
18K – ₹118,760 Per 10 Grams
Kolkata Gold Rates
24K – ₹157,040 Per 10 Grams
22K – ₹143,950 Per 10 Grams
18K – ₹117,780 Per 10 Grams
Chennai Gold Rates
24K – ₹162,220 Per 10 Grams
22K – ₹148,700 Per 10 Grams
18K – ₹124,100 Per 10 Grams
Lucknow Gold Rates
24K – ₹157,190 Per 10 Grams
22K – ₹144,100 Per 10 Grams
18K – ₹117,930 Per 10 Grams
Patna Gold Rates
24K – ₹157,090 Per 10 Grams
22K – ₹144,100 Per 10 Grams
18K – ₹117,830 Per 10 Grams
Jaipur Gold Rates
24K – ₹157,190 Per 10 Grams
22K – ₹143,350 Per 10 Grams
18K – ₹117,930 Per 10 Grams
