Gold-Silver Prices Slip Again: 24 Carat Gold Becomes Cheaper Across Major Indian Cities

Gold and silver prices witnessed another decline in the Indian bullion market on Tuesday, May 12, 2026. The fall in precious metal prices comes amid a stronger US dollar, easing global uncertainty, and lower buying activity in domestic markets.

Market experts believe international pressure on bullion prices and reduced consumer demand have contributed to the latest correction. Reports also suggest that Prime Minister Narendra Modi’s recent appeal urging citizens to avoid unnecessary gold purchases has had an indirect impact on sentiment in some regions.

According to the latest market data, the price of 24-carat gold has dropped by ₹220 per 10 grams in most major cities compared to Monday’s rates. In Chennai, the decline was steeper, with prices falling by ₹550 per 10 grams.

Latest Gold Prices in Major Cities

Note: GST and Jewellery-making charges are not included in these prices. Final retail prices may vary between Jewellers and cities.

Silver prices also moved lower on Tuesday. The metal is currently trading at ₹2,74,900 per kilogram in several major cities, reflecting a fall of ₹100 per kg from the previous trading session.

In cities like Delhi, Mumbai, Kolkata, Hyderabad, Bengaluru, Pune and Ahmedabad, silver rates stand at ₹2,749 per 10 grams. Chennai continues to record slightly higher silver prices, where the metal is trading at ₹2,851 per 10 grams and ₹2,85,100 per kilogram.

Analysts say investors are now closely watching international developments, especially currency movements and geopolitical updates, which may continue to influence bullion prices in the coming days.