Gold Price in India Crash Brings Relief! 24K Down Rs 32700/100 Gm In Week; Best Time to Buy? May 4-9 Outlook

Gold Rate in India Today: The price of 24 karat, 22 karat and 18 karat gold in India saw a weekly decline this week as investors remained cautious due to uncertainty over Iran-US peace talks, US Dollar movement and crude oil price rally. Silver rate in India also saw range-bound movement last week.

Going ahead, several factors, including domestic and global currency trends, crude oil price movements, and geopolitical developments, are expected to influence the trajectory of precious metals. As investors gear up for the week of May 4 to May 9, here's what could shape gold and silver price trends in India.

Gold Rate in India

While the price of 24 karat, 22 karat and 18 karat gold in India saw a weekly decline, the gold rate across category saw an uptick on Saturday, May 2. The 24 karat gold rate in India stood at Rs 15,093 per gram, as per Goodreturns data at 6 pm on Saturday. The rate of 22 karat gold in India stood at Rs 13,835 per gram. Likewise, the rate of 18 karat gold in India increased to Rs 11,320 per gram.

Silver Rate in India

The price of silver in India also saw an upward trend on Saturday. Silver rate in India increased to Rs 265 per gram and to Rs 2,65,000 per kilogram on May 2. Silver prices in India saw a range bound movement in April, however the white metal saw wild swings in January and February.

International Gold Price Today

The price of international gold on Friday, May 1, increased to $4,600 per ounce on Friday, as per Trading Economics data. The surge came as the US Dollar saw some weakness.

Gold Price Weekly Outlook

Gold price in India is likely to see a range-bound movement in the coming week and may see further decline as higher US interest rates and elevated bond yields may exert pressure on the yellow metal's trajectory.

"Gold prices are likely to stay range-bound next week with a slight downside bias, trading in the $4,450-$4,800 per ounce range after a 10-12% pullback from the 2026 peak above $5,200. Higher U.S. interest rates and elevated bond yields are expected to keep pressure on non-yielding assets like gold, though steady central bank buying-over 1,000 tonnes a year, should offer some support," explained Gaurav Maheshwari, CFO, Alankit Limited.

What Should Investors Do?

The Indian Rupee hit its all-time low mark last week, and any further decline could also impact the gold price. "For Indian investors, a weaker rupee could add a 3-5% cushion to domestic prices despite volatility, but softer post-festive demand may cap any sharp upside. Geopolitical tensions and sticky 3-4% inflation continue to lend support. If prices break above $4,800, it could open the door for a move toward $5,000-$5,400 later this year. Keeping an eye on U.S. rate trends and currency moves will be critical for strategic positioning," added Maheshwari.