Gold prices opened higher on Wednesday, May 22, amid continued uncertainty over the U.S. economy and a weaker U.S. dollar, both of which have driven renewed interest in safe-haven assets such as gold and silver.
Experts note that gold has delivered a 30% year-on-year (YoY) return, with a 15% compound annual growth rate (CAGR) since 2001. It has also consistently outpaced inflation by 2–4% since 1995. Meanwhile, silver has gained attention in recent months as a resilient alternative, sometimes even outperforming gold in terms of stability.
On May 22, gold prices jumped ₹613 per 10 grams at market opening, according to official data.
National Prices (as of 9 AM, May 22)
| Metal | Price | Unit | Source |
|---|---|---|---|
| 24-Carat Gold | ₹96,670 | per 10 grams | Indian Bullion Association (IBA) |
| 22-Carat Gold | ₹88,614 | per 10 grams | IBA |
| Silver (999 Fine) | ₹99,200 | per kilogram | IBA |
| MCX Gold Index | ₹96,212 | per 10 grams | MCX |
| MCX Silver | ₹99,029 | per kilogram | MCX |
City-wise Gold Prices on May 22
Note: Retail prices may vary based on local demand, jewellers’ margins, and additional charges such as GST and making fees.
| City | 22-Carat Gold (₹/10g) | 24-Carat Gold (₹/10g) |
|---|---|---|
| Mumbai | ₹88,450 | ₹96,500 |
| Delhi | ₹88,650 | ₹96,700 |
| Kolkata | ₹88,500 | ₹96,650 |
| Chennai | ₹89,100 | ₹97,200 |
| Bengaluru | ₹88,550 | ₹96,600 |
| Hyderabad | ₹88,500 | ₹96,650 |
Buying gold during price dips is widely viewed as a strategic investment opportunity.
Investors may consider gold ETFs to avoid the making charges and storage issues associated with physical gold.
Silver, once considered the underdog, has proven its worth in uncertain markets, with analysts noting it as a strong portfolio diversifier.
Before investing, individuals are advised to assess personal financial goals and consult a financial advisor for optimal asset allocation.
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