Gold Prices Today on 2nd May, Slide Further, After Sharp Drop in Previous Session

Gold prices in India extended their losing streak on 2nd May 2025, registering another decline after a sharp drop in the previous session. After dipping by around ₹200 on 1st May, both 22K and 24K gold prices have slipped further today. Currently, 22K gold is priced at ₹8,755 per gram, while 24K gold stands at ₹9,551 per gram.

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Cost of Gold in India Dip Further on 2nd May

As of 10:42 AM on 2nd May, gold rate today across key Indian cities have dropped for the third consecutive day. The price of 24K gold is down by ₹22 per gram, while 22K gold has fallen by ₹20 per gram. Here's a look at city-wise rates:

• Gold Price Today in Mumbai: In Mumbai, the price of 22K gold has fallen to ₹8,755 per gram, while 24K gold is now available at ₹9,551 per gram, marking a continued dip after yesterday’s sharp correction.
• Gold Price Today in Chennai: 22K gold is now priced at ₹8,755 per gram, while the price of 24K gold stands at ₹9,551 per gram. This marks the third straight day of losses.
• Gold Price Today in Bangalore: Bangalore also witnessed a downward movement in gold prices today. With 22K gold now trading at ₹8,755 per gram and 24K at ₹9,551 per gram.
• Gold Price Today in Hyderabad: Gold prices in Hyderabad declined in line with the national average. 22K gold is currently priced at ₹8,755 per gram, while 24K gold is available at ₹9,551 per gram. 
• Gold Price Today in Kerala: Kerala’s gold market followed suit with 22K gold now available at ₹8,755 per gram and 24K gold at ₹9,551 per gram.
• Gold Price Today in Delhi:In the capital, Delhi, gold prices show minor variations. The price of 22K gold is now ₹8,770 per gram, while 24K gold is quoted at ₹9,566 per gram
   

Recent Gold Price Trends in India

Gold has faced heightened volatility this week, with a steep fall recorded on 1st May and continued weakness on 2nd May. Here's a summary of recent movements, leading up to 2nd May:

• May 1: Gold prices tumbled sharply—22K gold fell by ₹200 to ₹8,775 per gram, and 24K gold dropped by ₹218 to ₹9,573 per gram.
• April 30: Gold rates witnessed slight decline—22K gold at ₹8,975 per gram, 24K gold at ₹9,791 per gram.
• April 29: Gold prices displayed modest gains. 22K gold was at ₹8,980 per gram, 24K was at ₹9,797 per gram.
• April 28: A slight dip was recorded in gold prices. 22K gold was at ₹8,940 per gram, and 24K gold at ₹9,753 per gram.
• April 27: Gold prices witnessed no change.

Conclusion

The back-to-back decline in gold prices potentially signals mounting pressure in the bullion market, influenced by shifting global trends, currency movements, and a drop in safe-haven demand. With prices down further today (2nd May), investors and buyers may consider this a favorable entry point. However, the ongoing volatility underscores the importance of tracking gold rates closely.