Precious metals, which are traditionally considered safe-haven assets, have not shown sharp upside, indicating cautious investor sentiment and stable domestic demand.
Gold and silver prices in India on May 5, 2026, remained largely steady with minor fluctuations across major cities, even as global markets reacted to geopolitical tensions in West Asia and mixed signals from the US dollar. Precious metals, which are traditionally considered safe-haven assets, have not shown sharp upside, indicating cautious investor sentiment and stable domestic demand.
According to the latest retail market rates, 24-carat gold is trading at ₹14,961 per gram, while 22-carat gold is priced at ₹13,714 per gram. Silver prices are hovering close to ₹2,64,900 per kilogram in the domestic bullion market. Prices vary slightly across cities due to local taxes, transportation costs, and jewellers’ margins.
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Gold prices in major cities (per gram)
| City | 24K Gold (₹) | 22K Gold (₹) | 18K Gold (₹) |
| Delhi | 14,976 | 13,729 | 11,236 |
| Mumbai | 14,961 | 13,714 | 11,221 |
| Kolkata | 14,961 | 13,714 | 11,221 |
| Chennai | 15,272 | 13,999 | 11,679 |
It is worth noting that gold prices in India are mainly influenced by international bullion rates, rupee-dollar movements, import duties, and seasonal jewellery demand. With the wedding and festive season approaching in some regions, retail demand remains stable, preventing sharp corrections in prices.
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Silver prices in major cities
Silver continues to trade at elevated levels compared to long-term averages, supported by industrial demand as well as investment buying. Unlike gold, silver prices are more sensitive to global manufacturing trends, making the metal more volatile during uncertain economic conditions.
| City | Silver (₹ per 10 gm) | Silver (₹ per kg) |
| Delhi | 2,649 | 2,64,900 |
| Mumbai | 2,649 | 2,64,900 |
| Kolkata | 2,649 | 2,64,900 |
| Chennai | 2,699 | 2,69,900 |
Check latest silver rates here
MCX closing prices (last trading session on May 4, 2026)
On the Multi Commodity Exchange (MCX), gold and silver closed lower amid geopolitical volatility. Gold (June futures) settled around ₹1,49,350 per 10 gm on Monday. Silver (July futures) faced heavier selling, with MCX prices falling over 2% to ₹2,44,001 per kg.
| Commodity | Price (MCX) | Change |
| Gold | ₹1,49,350 per 10 gm | Down ~1% |
| Silver | ₹2,44,001 per kg | Down ~2% |
Recent futures market data showed mild pressure on bullion, with silver witnessing a sharper correction compared to gold. Analysts say traders remain cautious ahead of global macroeconomic cues, currency movement, and geopolitical developments, which are likely to determine the next trend in precious metals.
Published on: May 5, 2026 9:39 AM IST
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