Gold Silver Price 12 May: 24 carat gold has become cheaper by Rs 2023 per 10 grams in one go today on 12 May and has gone to Rs 94393 today. Whereas, silver became costlier by Rs 191 and opened at Rs 95917 per kg.
Gold Silver Price 12 May: After the ceasefire, a big change is seen in the price of gold and silver today. 24 carat gold has become cheaper by Rs 2023 per 10 grams in one go today on 12 May and has gone to Rs 94393 today. Whereas, silver became costlier by Rs 191 and opened at Rs 95917 per kg.
Let us tell you that the rates of bullion market have been released by India Bullion and Jewelers Association (IBJA), in which GST has not been imposed. It is possible that in your city, there is a difference of Rs 1000 to Rs 2000. IBJA releases the rate twice a day. Once around 12 noon and the second around 5 pm. Right now this rate is of afternoon.
This year gold has become expensive by about Rs 18653 and silver by Rs 9900. On 22 April 2025, gold was at an all-time high of Rs 99100 per 10 grams. On 31 December 24, gold opened at a rate of Rs 76045 per 10 and silver at Rs 85680 per kg. On this day gold closed at Rs 75740. Silver also closed at Rs 86017 per kg. Gold has become cheaper by Rs 4707 from its all-time high.
According to IBJA rates, 23 carat gold also became cheaper by Rs 2015 today and opened at Rs 94015 per 10 grams. At the same time, the average spot price of 22 carat gold fell by Rs 1853 at noon to Rs 86464 per 10 grams. The price of 18 carat gold has also become cheaper by Rs 1517 and has come down to Rs 70795 per 10 grams. Whereas, the price of 14 carat gold has come down by Rs 1183 to Rs 55220.
What are the reasons behind the fall
Gold prices fell sharply in the international bullion market on Monday due to rising expectations about the US-China trade deal and the ceasefire between India and Pakistan increasing the risk-taking ability of investors and affecting the demand for gold as a safe investment option.
The price of gold on MCX opened at Rs 95,500 per 10 grams, which was at the previous closing price of Rs 96,518. In the morning, MCX gold price was trading down by Rs 2,253 or 2.33% at Rs 94,265 per 10 gram. MCX silver rate was trading down by Rs 578 or 0.60% at Rs 96,151 per kg.
Optimistic signals from US-China trade talks eased market fears. Spot gold price fell 1.4% to $3,277.68 per ounce, while US gold futures fell 1.9% to $3,281.40.
