I just noticed that my computer is slow. I went for disk check and just now found that my sata I drive is too slow. I checked and found that its speed is only 2-3Mbps. While I I have old PATA drive and it gives average of 60Mbps.

I have motherboard which support SATA I only and my drive is Seagate 500 GB SATA II. It was working fine from last 4-5 months. Gone bad just two days back.

I have no clue what happened ?

Is my hard drive gone bad ?

You can do either of the following:

1. Try swapping SATA cable
2. Make sure your OS is upto date with patches and updates
3. If you have single SATA port then from BIOS, try to change SATA channel.

..
The idea behind above information is that your XP is not able to recognize properly hence we need to remove and reinstall the drive, since its not possible for HDD with OS on it, we are changing the ports so that XP see it as new hardware.

Should solve your problem.