Gold, silver rates on May 17: Prices see a marginal fall

The average gold rates in India slumped on Wednesday with one gram of 22K gold priced at ₹ 5,630 which is ₹ 45 lower as compared to yesterday. Similarly the average price of 24K gold also came down by ₹ 49 to ₹ 6,142.

Gold prices continue to be the highest in Chennai with 10 grams of 22K gold costing ₹ 56,700 and 24K gold priced at ₹ 61,850. In New Delhi it is ₹ 56,450 for 10 gms of 22K gold while In Mumbai and Kolkata the price is ₹ 56,300.

Similarly, the rate of Silver has also come down. One Kilogram of Silver is ₹ 500 less than yesterday's price. One kilogram of silver costs ₹ 74,600 today. Silver rates in Chennai, Bengaluru and Hyderabad remain the highest with one kilogram of the metal costing ₹ 78,200.

The average prices of Gold and Silver stood at ₹ 60,244 per 10 grams and silver at ₹ 72,585 per kg respectively when the markets closed on 16th May.