Gold and silver prices saw a dip on Monday, May 20, 2025, even as global demand remained strong following Moody’s downgrade of the US credit rating. On the Multi Commodity Exchange (MCX), gold futures for June delivery fell ₹303 to ₹93,005 per 10 grams, while silver futures dropped ₹370 to ₹95,325 per kilogram.
The fall comes despite global spot gold rising 0.9% to $3,229.51 per ounce and US gold futures settling 1.5% higher at $3,233.50. The gains in international markets were driven by a weakened dollar and safe-haven buying.
Analysts say that although the possibility of a Russia-Ukraine peace deal could cap gains, investor sentiment remains bullish. Goldman Sachs has projected gold could reach $3,700 by end-2025.
In India, 24K gold prices were highest in Delhi at ₹9,517 per gram, followed by ₹9,502 in cities like Mumbai, Chennai, Kolkata, Bengaluru, and Kerala. For 22K gold, rates stood at ₹8,710 across most cities, except Delhi where it was ₹8,725.
Meanwhile, the rupee appreciated 0.18% to close at 85.4625 against the dollar, supported by domestic equities.
City-wise 24K and 22K gold rates (per gram):
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Delhi: ₹9,517 (24K), ₹8,725 (22K)
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Mumbai: ₹9,502 (24K), ₹8,710 (22K)
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Chennai: ₹9,502 (24K), ₹8,710 (22K)
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Kolkata: ₹9,502 (24K), ₹8,710 (22K)
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Bengaluru: ₹9,502 (24K), ₹8,710 (22K)
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Kerala: ₹9,502 (24K), ₹8,710 (22K)
