Huge Drop in Gold & Silver Prices Today: Check 22K, 24K & 18K Gold Rates in India As US Dollar Gains Strength

Gold Prices in India: After a sharp rally over the past two days, gold prices in India have seen a slight pullback on Friday. In today's trade, the rate for 24 karat gold is down by Rs 38 per gram to Rs 9,753. Similarly, 22 karat gold has dropped by Rs 35 to Rs 8,940 per gram. Even 18 karat gold saw a decline of Rs 29, now priced at Rs 7,315 per gram.

This soft correction comes on the heels of a significant surge in rates earlier this week. Over the past two days, 24 karat gold for 100 grams had jumped by Rs 28,900, while 22 karat gold rose by Rs 26,500. The recent fluctuations reflect a mix of global market trends and shifting investor sentiment, keeping gold buyers on their toes.

Gold Rate in India Today on May 23: Check 22 Karat, 24 Karat and 18 Karat Gold's Latest Prices

Today's 24 Karat Gold Rate Per Gram in India

Gold prices in India slipped slightly today, providing some relief to buyers after a recent rally. The price of 24-karat gold per gram stands at Rs 9,753, compared to Rs 9,791 yesterday, reflecting a decline of Rs 38.

For 8 grams, the rate is now Rs 78,024, down by Rs 304 from the previous session. A standard 10-gram piece of 24K gold is priced at Rs 97,530, a decrease of Rs 380 on Friday. Meanwhile, 100 grams of pure 24-karat gold now costs Rs 9,75,300, which is Rs 3,800 lower than yesterday's rate of Rs 9,79,100.

Today's 22 Karat Gold Rate Per Gram in India

Gold prices for 22 karat purity also saw a modest decline across India on May 23, 2025. The rate for 1 gram of 22K gold stands at Rs 8,940, down by Rs 35 from yesterday's Rs 8,975.

For 8 grams, the price is now Rs 71,520, reflecting a drop of Rs 280. A 10-gram quantity of 22K gold is priced at Rs 89,400, which is Rs 350 lower than the previous day. Meanwhile, 100 grams is currently valued at Rs 8,94,000, compared to Rs 8,97,500 yesterday, marking a reduction of Rs 3,500.

Today's 18 Karat Gold Rate Per Gram in India

Today, the 18 karat gold rate per gram in India is Rs 7,315, down Rs 29 from yesterday's Rs 7,344. For 8 grams, the price stands at Rs 58,520, a decrease of Rs 232 compared to Rs 58,752 the previous day.

The 10 gram rate is Rs 73,150, down Rs 290 from Rs 73,440 yesterday. Meanwhile, 100 grams of 18 karat gold is priced at Rs 7,31,500 today, showing a fall of Rs 2,900 from Rs 7,34,400 yesterday.

Current Gold Rate Per Gram in Top Cities

In Chennai, Mumbai, Kolkata, Bangalore, and Hyderabad, 24 karat gold is priced at Rs 9,753 per gram, 22 karat at Rs 8,940 per gram, and 18 karat ranges between Rs 7,315 and Rs 7,370 per gram. Delhi sees slightly higher rates with 24 karat gold at Rs 9,768 per gram, 22 karat at Rs 8,955 per gram, and 18 karat at Rs 7,327 per gram.

Drop in Silver Prices Today: Today's Silver Rate Per Gram in India

Silver prices in India have dipped slightly today after a recent rally in the market. This white, shiny metal is currently valued at Rs 100 per gram, down by Rs 1 from yesterday's Rs 101. For 8 grams, the price stands at Rs 800, a decrease of Rs 8 compared to Rs 808 previously.

The 10 gram silver rate is Rs 1,000, down Rs 10 from Rs 1,010 yesterday. Likewise, 100 grams costs Rs 10,000, falling Rs 100 from Rs 10,100, while 1 kilogram is priced at Rs 1,00,000, down Rs 1,000 from Rs 1,01,000 recorded the previous day.

Silver Rate Today in Top Cities

In Chennai and Hyderabad, 10 grams of silver is priced at Rs 1,110, while 100 grams cost Rs 11,100, and 1 kilogram is valued at Rs 1,11,000. In Mumbai, Delhi, Kolkata, and Bangalore, silver rates are a bit lower, with 10 grams priced at Rs 1,000, 100 grams at Rs 10,000, and 1 kilogram at Rs 1,00,000.

Gold Price Outlook: Experts' View on Gold Vs Dollar

Gold prices slipped on Friday, posting their first daily loss in three sessions as the U.S. dollar strengthened and investors booked profits after a brief rally.

"Gold prices slipped, posting their first daily loss in three sessions, as a stronger U.S. dollar, updates on President Trump's tax bill, and investor profit-taking weighed on the metal," said Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial Services Ltd.

He added, "Earlier in the day, gold had touched a two-week high, but gains quickly faded as the dollar index rose 0.3% against major crosses. The surge in the dollar followed the narrow passage of President Donald Trump's sweeping tax bill through the U.S. House of Representatives-a move that reignited concerns over the country's ballooning fiscal deficit."

According to Anuj Gupta at HDFC Securities, the passing of the House budget bill is "positive for the dollar," and we "may see profit booking or a slight correction in gold." A stronger dollar often puts downward pressure on gold prices, which could lead investors to book profits or trigger a minor dip in gold's value in the near term.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.