Overview

• Gold prices in India fell to ₹96,040 per 10 grams on May 23, down from ₹98,650 recorded during a rally on May 22.
• Silver prices also declined, trading at ₹98,120 per kg on May 23, following a high of ₹1,01,200 per kg the previous day.
• The April 22 peak of ₹1 lakh per 10 grams marked a historic high, but prices have since been on a four-week correction trend.
• Market dynamics such as local demand, global economic uncertainty, and a weaker US dollar continue to influence precious metal prices.
• High gold prices have driven interest in cost-effective options like gold coins and lighter jewelry among Indian buyers.