Gold Prices In India Outlook: What Will Impact 24K, 22K, 18K Gold On Maharashtra Day? MCX Holiday On May 1

Gold prices in India are likely to trend due to special holiday in some of the major metro cities including Mumbai. May 1st has emerged auspicious due to Labor Day and Maharashtra Din. In April 2025, 24 carat, 22 carat, and 18 carat gold jumped by 5.5% to 6%, continuing the month-on-month rally momentum. Gold prices have reached their highest peak of more than Rs 1 lakh in late-April before correcting.

Gold Prices In India:

24K gold price stood at Rs 97,900 in 10 grams, while 22K and 18K gold prices were at Rs 89,740 and Rs 73,430 per 10 grams.

Gold prices in Chennai stood at Rs 97,900 in 10 grams under 24 carat, while the price was at Rs 74,330 in 18 carat and at Rs 89,740 in 22K.

Gold prices in Bangalore is around Rs 97,900 in 24 carat for 10 grams as well. While 22 carat and 18 carat gold prices are at Rs 89,740 and Rs 73,430 per 10 grams respectively.

Gold prices in Hyderabad is also similar at Rs 89,740 in 22 carat, at Rs 97,900 in 24 carat, and at Rs 73,430 in 18 carat.

Gold prices in Mumbai is also in 10 grams. 24 carat gold is at Rs 97,900, at Rs 73,430 in 18 carat, and at Rs 89,740 in 22 carat.

Gold prices in Delhi, however, are expensive. Gold prices here are at Rs 98,030 per 10 grams in 24 carats, at Rs 89,890 per 10 grams in 22 carats, and Rs 73,550 in 18 carats.

MCX Holiday:

The MCX market will be closed on May 1st due to celebration of Maharashtra Day. Maharashtra Day is a major holiday for the people of Marathi. It is a state holiday and is also referred to as Maharashtra Din popularly. May 1st commemorates the formation of the state of Maharashtra in the country, right from separating the Bombay State on 1 May 1960.

MCX Gold, Silver Prices:

On April 30th, MCX gold price stood at Rs 94,611 per 10 grams, down by 0.1% after trading hours. While MCX silver price stood at Rs 94,561 per 1kg, down by 2.4% in a single-day.

What Will Impact Gold Prices In India On Maharashtra Day?

Market attention now turns to key upcoming U.S. economic indicators, including Q1 GDP, ADP employment, Core PCE, and pending home sales, which may offer insight into conditions just before Trump announces reciprocal tariffs on April 2, said, Kaynat Chainwala, AVP-Commodity Research, Kotak Securities.

He added that safe-haven demand eased amid growing optimism that President Trump may relax tariffs on automobiles and car parts. Treasury Secretary Bessent delivered remarks but provided no clear update on U.S.-China trade talks.

Nonetheless, going ahead, Sandip Raichura, CEO - Retail Broking and Distribution, Director - PL Broking and Distribution said, gold is shining as brightly as ever as uncertainty for the globe rises , dollar possibly will remain weaker yet India finds itself in a sweet spot of global macros. On this auspicious day, one would do well to still continue to buy gold at current rates for a fabulous run ahead for the next 5 years.

Disclaimer: The recommendations made above are by market analysts and are not advised by either the author or Greynium Information Technologies. The author, the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.In advises users to consult with certified experts before making any investment decision.