Gold price and silver in India is fluctuating everyday. On Thursday, May 15 the price of 24-carat gold in the bullion market fell by Rs 2,375 to Rs 91,484 per 10 grams, while silver fell by Rs 2,279 to Rs 94,103 per kg. The India Bullion and Jewellers Association (IBJA) has announced the bullion market rates. This does not include GST. There may be a difference of Rs 1,000 to Rs 2,000 in your city.
IBJA issues rates twice a day, once around 12 noon, and the second time around 5 pm.Including GST, gold is being sold at Rs 94,228 per 10 grams and silver at Rs 96,926 per kg. Gold has become cheaper by Rs 7,616 from its all-time high in the bullion market. On April 22, 2025, the price of gold was at a high of Rs 99,100 per 10 grams.It has not been long since Trump's tariffs were imposed and the government's coffers were filled.
According to IBJA rates, the price of 23-carat gold fell by Rs 2,365 to Rs 91,118 per 10 grams today. The average spot price of 22-carat gold fell by Rs 2,176 to Rs 83,799 per 10 grams. The price of 14-carat gold has decreased by Rs 1,390 to Rs 53,518.
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Why are the prices falling?
After the news of the ceasefire between India and Pakistan and the Russia-Ukraine conflict in Europe, the prices of gold and silver are falling in the global market. The US has reduced the tariff on Chinese goods from 145 percent to 30 percent, while China has also reduced the tariff on American goods from 125 percent to 10 percent. This led to a rise in stock markets around the world and created a 'risk-taking mood' among people. Due to this, the demand for safe investments like gold decreased.