Gold Prices Update for May 1: Latest Rates of 18, 22, and 24 Carat Gold in Key Indian Cities
As we step into May, the spotlight on gold prices intensifies among investors and buyers across India. This article presents an updated overview of the current market rates for 18, 22, and 24 carat gold in prominent metropolitan areas such as Chennai, Mumbai, Delhi, and Kolkata. Influenced by shifting international economic conditions alongside domestic demand fluctuations, staying abreast of these price movements is vital for anyone involved in gold trading or purchasing. Below is a detailed breakdown of today’s gold valuations along with insights into the factors shaping these trends nationwide.
May 1 Gold Price Overview Across Indian Metropolises
On May 1st, variations were observed in gold pricing across major cities reflecting both global influences and local market behavior. In Chennai, the rate for 22-carat gold was recorded at ₹5,450 per gram while pure (24-carat) gold traded at ₹5,950 per gram. Comparatively lower figures appeared in Mumbai, where the same grades were priced at ₹5,430 and ₹5,930 respectively.
The national capital region (Delhi) reported slightly higher values with 22-carat at ₹5,455 per gram and premium-grade (24 carat) reaching ₹5,955 per gram. Meanwhile, Kolkata’s prices closely mirrored Mumbai’s rates—₹5,430 for 22 carats and ₹5,930 for pure gold.
The table below summarizes these city-wise prices to provide a clear comparison:
| City | Price of 22-Carat Gold (₹/gram) | Price of 24-Carat Gold (₹/gram) |
|---|---|---|
| Chennai | ₹5,450 | ₹5,950 |
| Mumbai | ₹5,430 | ₹5,930 |
| Delhi | ₹5 ,455 td >< td > ₹ 59555 < / td > tr > < tr >< td > Kolkata< / td >< td > ₹5430< / td >< td > ₹5930< / td > tr > |
Decoding Differences Among Prices of 18-, 22-, and 24-Carat Gold Varieties
The purity levels indicated by carats play a crucial role not only in determining quality but also influencing price points within India’s diverse jewelry market. The three prevalent standards—18 carat (75% purity), 22 carat (~91.6%), and purest form: 24 carat (~99.9%)—each offer distinct advantages depending on buyer preferences. strong > p >
Pure or “fine” gold (24K) is prized for its softness which makes it ideal primarily as an investment asset rather than everyday wear due to its susceptibility to scratches or deformation under stress.< strong >In contrast,< / strong >the widely favored
22K offers an optimal blend between high purity & durability suitable especially during festivals & weddings.
Meanwhile,
18K provides enhanced toughness making it perfect choice when longevity matters most without sacrificing too much luster.
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The pricing gap between these categories reflects their metal content differences combined with regional demand patterns influenced by economic activity levels across cities like Chennai,Mumbai ,Delhi,and Kolkata . For example:
| nChennainn | nu20B94 ,800nn | nu20B95 ,800n n | u20B96 ,400n t r> |