Gold Nears Rs 96,000 Mark as Prices Surge Again
Mumbai, 5th May 2025: Gold prices witnessed a significant surge on Sunday, May 5, with the rate of 24-carat gold increasing by ₹1,328 per 10 grams. According to data released by the India Bullion and Jewellers Association (IBJA), the price of 10 grams of 24-carat gold has now reached ₹95,282, up from ₹93,954 the previous day.
On the other hand, silver prices recorded a marginal decline. The price of one kilogram of silver fell by ₹25, bringing it down to ₹94,100 from the previous rate of ₹94,125.
Gold had previously touched an all-time high of ₹99,100 per 10 grams on April 21, while silver hit a record ₹1,00,934 per kg on March 28.
Gold Prices in Major Cities (per 10 grams)
Delhi: ₹87,800 (22K), ₹95,880 (24K)
Mumbai: ₹87,750 (22K), ₹95,730 (24K)
Kolkata: ₹87,750 (22K), ₹95,730 (24K)
Chennai: ₹87,750 (22K), ₹95,730 (24K)
Bhopal: ₹87,800 (22K), ₹95,780 (24K)
Gold and Silver Prices in 2025 So Far
Since the beginning of the year, gold prices have surged by ₹19,120. On January 1, 10 grams of 24-carat gold was priced at ₹76,162. Comparatively, silver has also gained ₹8,083 per kg, rising from ₹86,017 to ₹94,100. In 2024, gold had become costlier by ₹12,810.
In April 2025, the price of 24-carat gold in the bullion market briefly crossed the ₹1 lakh mark per 10 grams. With GST and making charges included, retail prices had exceeded ₹1 lakh per 10 grams on April 22.
Gold Prices Could Reach ₹1.10 Lakh by Year-End
Global economic factors are expected to continue influencing gold prices. Due to ongoing trade tensions between the United States and China, along with recession fears, global gold prices could climb to $3,700 per ounce this year. According to estimates by international investment bank Goldman Sachs, this could push domestic gold prices in India to ₹1.10 lakh per 10 grams by December.
Tips for Buying Gold Safely
As gold prices continue to fluctuate, consumers are advised to keep the following points in mind while purchasing gold:
Buy Certified Gold: Always purchase gold with BIS (Bureau of Indian Standards) hallmarking. Check for the six-digit Hallmark Unique Identification Number (HUID), such as “AZ4524”, which confirms gold purity.
Verify Price and Purity: Cross-check the day’s price for 22K, 24K, or 18K gold on IBJA’s official website or other reliable sources. Remember, 24K gold is the purest form but is generally not used for jewellery due to its softness.
Avoid Cash Transactions: Make digital payments through UPI, debit, or credit cards and always insist on a bill. If purchasing online, verify packaging upon delivery.
