After the ceasefire, there has been a major change in gold and silver prices today. On 12 May, 24-carat gold has become cheaper by ₹2,023 per 10 grams in one go
and is now priced at ₹94,393. On the other hand, silver has become costlier by ₹191 and opened at ₹95,917 per kg.
Let us inform you that the bullion market rates are issued by the India Bullion and Jewellers Association (IBJA), and these rates do not include GST.
There may be a price difference of ₹1,000 to ₹2,000 in your city. IBJA releases rates twice daily — once around 12 noon and again around 5 pm. The current rate is from the afternoon update.
This year, gold has risen by about ₹18,653 and silver by ₹9,900. On 22 April 2025, gold reached its all-time high at ₹99,100 per 10 grams.
On 31 December 2024, gold opened at ₹76,045 per 10 grams and silver at ₹85,680 per kg.
That day, gold closed at ₹75,740, while silver ended at ₹86,017 per kg. Gold is now ₹4,707 cheaper than its all-time high.
As per IBJA rates, 23-carat gold has also fallen by ₹2,015 and opened at ₹94,015 per 10 grams. Meanwhile, the average spot price of 22-carat gold dropped by ₹1,853
and opened at ₹86,464 per 10 grams in the afternoon. The price of 18-carat gold has also decreased by ₹1,517 to ₹70,795 per 10 grams.
Similarly, 14-carat gold has gone down by ₹1,183 and is now at ₹55,220.
Why prices fell
Gold prices dropped sharply in the global bullion market on Monday. This was due to increased optimism over a US-China trade deal
and the India-Pakistan ceasefire, which made investors more willing to take risks and reduced the demand for gold as a safe-haven asset.
On MCX, gold opened at ₹95,500 per 10 grams, compared to the previous close of ₹96,518.
In the morning, it was trading at ₹94,265 per 10 grams — down by ₹2,253 or 2.33%. Silver on MCX was trading at ₹96,151 per kg, down by ₹578 or 0.60%.
Positive signs from the US-China talks calmed market concerns. Spot gold prices dropped by 1.4% to $3,277.68 per ounce, while US gold futures declined by 1.9% to $3,281.40 per ounce.
