Gold and silver prices in India experienced a slight uptick on May 10, 2026, reflecting a blend of cautious investor sentiment and stable domestic demand. Despite geopolitical tensions in West Asia and mixed signals from the US dollar influencing global markets, precious metals maintained their value.
Gold Prices Across Major Indian Cities
As of May 10, 2026, the retail market saw 24-carat gold trading generally around ₹14,596 per gram, with 22-carat gold priced near ₹13,379 per gram. Prices varied slightly across major metropolitan areas due to local taxes, transportation costs, and jeweler margins.
- Delhi: 24K gold at ₹15,314 per gram; 22K gold at ₹14,038 per gram.
- Mumbai: 24K gold at ₹15,286 per gram; 22K gold at ₹14,012 per gram.
- Chennai: 24K gold at ₹15,330 per gram; 22K gold at ₹14,053 per gram.
- Kolkata: 24K gold at ₹15,266 per gram; 22K gold at ₹13,994 per gram.
Silver Rates in Key Urban Centers
Silver continues to trade at elevated levels, supported by both industrial demand and investment buying. Unlike gold, silver prices are often more sensitive to global manufacturing trends, contributing to greater volatility during economic uncertainties. The domestic bullion market saw silver hovering close to ₹2,44,900 per kilogram.
- Delhi: ₹2,750 per gram; ₹2,75,000 per kilogram.
- Mumbai: ₹2,750 per gram; ₹2,75,100 per kilogram.
- Chennai: ₹2,800 per gram; ₹2,80,000 per kilogram.
- Kolkata: ₹2,750 per gram; ₹2,75,000 per kilogram.
Market Dynamics and Futures Trading
The stability in precious metal prices is partly attributed to consistent retail demand, particularly with the wedding and festive season approaching in various regions, which helps prevent sharp corrections. Gold prices in India are primarily influenced by international bullion rates, the rupee-dollar exchange rate, import duties, and seasonal demand for jewelry.
On the Multi Commodity Exchange (MCX) for the last trading session, gold (June futures) settled slightly higher at ₹1,52,950 per 10 grams, marking a 0.54% increase. Silver (July futures) also saw a rise of 1.67%, closing at ₹2,57,500 per kilogram.
Analysts note that traders remain cautious, closely monitoring global macroeconomic cues, currency movements, and geopolitical developments, which are expected to shape the future trajectory of precious metal markets.