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Gold Price Today: Big fall in gold prices, gold became cheaper by ₹ 2960 in a week; The shine of silver increased, check the price of your city

Samira Vishwas | May 3, 2026 5:24 PM CST

The movement of gold and silver in the Indian bullion market this week has surprised investors and buyers. While on one hand there has been a huge decline in the prices of gold on a weekly basis, there has been a rise in the prices of silver. Today, on May 3, 2026, there is relief in the price of gold in major cities of the country, due to which this can be a good opportunity for those buying before the wedding season.

Heavy fall in gold prices: 24 carat gold falls by ₹2960

There has been a significant decline in the price of gold within the last one week. According to the data, the price of 24 carat gold has fallen by ₹2960 per 10 grams, while the price of 22 carat gold has come down to ₹2850.

Talking about the capital Delhi, the price of 24 carat gold has now come down to ₹ 1,51,230 per 10 grams. It is noteworthy that on Thursday, April 30, the prices were at the level of ₹ 1,54,800. The markets remained closed on Friday due to Labor Day and Buddha Purnima, after which this improvement in prices is being seen today. Even in the international market, spot gold is trading around $4,627.63 per ounce.

Today’s gold rate in major cities of the country (3 May 2026)

The table given below gives the latest gold prices in major cities of the country:

City	22 carat (₹/10 grams)	24 carat (₹/10 grams)
Delhi	1,38,500	1,51,230
Mumbai	1,38,350	1,50,930
Chennai	1,40,000	1,52,730
Kolkata	1,38,350	1,50,930
Bengaluru/Pune	1,38,350	1,50,930
Jaipur/Lucknow	1,38,500	1,51,230
Ahmedabad	1,38,400	1,51,030

Rise in silver prices: weekly gain of ₹ 5000

Unlike gold, silver prices have seen a rise this week. Silver has become costlier by ₹ 5000 on a weekly basis. This morning the price of silver was recorded at ₹2,65,000 per kg. Spot silver in the international market remains at $75.91 an ounce. Let us remind you that in January this year, silver had crossed the historical level of ₹ 4 lakh per kg, against which the prices are quite stable now.

Why are prices changing?

Gold and silver prices in India do not depend only on domestic demand, but global factors also play a big role. Geopolitical situations like the strength of the dollar in the international market, decisions of central banks and ongoing tensions in West Asia are affecting the prices. Apart from this, the bullion market in India also shows different prices in different cities due to local taxes and VAT.