Gold prices remained steady in the retail market on Monday (May 4, 2026). 24 carat gold was priced at ₹1,51,360 per 10 gm, while 22 carat gold was retailing at ₹1,38,630 per 10 gm.
Over the last 10 days, gold prices have registered a sharp decline and are currently in a downtrend.
Gold rates at major jewellery brands
As of May 4, 2026, here below are the latest rates across major brands.
Tanishq: 22 carat gold is priced at ₹1,38,750 per 10 gm, while the price of 24 carat gold is ₹1,51,360. 18 carat is priced at ₹11,352 per 10 gm.
Joyalukkas: 22 carat gold is priced at ₹1,37,150 per 10 gm
Kalyan Jewellers: 22 carat gold is priced at ₹1,37,150 per 10 gm, while the price of 24 carat gold is ₹1,49,620. Similarly, 18 carat gold is priced at ₹1,12,220.
City-wise gold price trend across major cities
| Cities | 24 Carat | 22 Carat |
|---|---|---|
| Delhi | ₹1,51,360 | ₹1,38,630 |
| Mumbai | ₹1,51,070 | ₹1,38,490 |
| Kolkata | ₹1,51,050 | ₹1,38,470 |
| Chennai | ₹1,51,170 | ₹1,38,540 |
| Hyderabad | ₹1,51,080 | ₹1,38,500 |
| Pune | ₹1,51,070 | ₹1,38,490 |
Source: Upstox
Factors influencing gold rate today
Gold prices were on a downtrend on Monday amid continuing inflation worries, and as investors awaited for any developments in the West Asia crisis.
US President Donald Trump said that Washington would take a step on Monday morning and help free the stranded ships in the Strait of Hormuz. Meanwhile, Iranian state media reported that the US has shared response to its 14-point proposal through Pakistan.
Oil prices are still above $100 per barrel mark, with Brent crude trading near $108 per barrel. The higher crude prices, stoking inflation worries, may push global central banks to hold interest rates higher for longer. The higher-for-longer interest rates in the economy weigh on bullion - it being a non-interest yielding asset.
US gold futures for June delivery traded weak by 0.7% at around $4,611.3 per ounce.
Mirroring the trend overseas, gold June futures on the MCX traded sharply down by 0.57% or ₹857 at ₹1,50,495 per 10 gm. In the previous session, gold June futures ended at ₹1,51,352 per 10 gm.
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