Precious metal prices in India remained largely stable on May 5, 2026, with only minor fluctuations observed across key metropolitan areas. This stability comes amid cautious investor sentiment globally, influenced by geopolitical tensions in West Asia and mixed signals regarding the US dollar's strength.
Current Gold Prices Across Major Indian Cities
As of May 5, 2026, the retail market saw 24-carat gold priced at approximately ₹14,961 per gram, while 22-carat gold hovered around ₹13,714 per gram. Prices for 18-carat gold were also noted. These rates exhibit slight variations city-to-city due to local taxes, transportation costs, and jewellers' margins.
- Delhi: 24K Gold at ₹14,976/gram; 22K Gold at ₹13,729/gram; 18K Gold at ₹11,236/gram
- Mumbai: 24K Gold at ₹14,961/gram; 22K Gold at ₹13,714/gram; 18K Gold at ₹11,221/gram
- Kolkata: 24K Gold at ₹14,961/gram; 22K Gold at ₹13,714/gram; 18K Gold at ₹11,221/gram
- Chennai: 24K Gold at ₹15,272/gram; 22K Gold at ₹13,999/gram; 18K Gold at ₹11,679/gram
Silver Rates Today in India
Silver prices in the domestic bullion market were trading near ₹2,64,900 per kilogram. Silver continues to hold elevated levels, supported by robust industrial demand and investment interest. Unlike gold, silver's value is often more susceptible to global manufacturing trends, making it prone to greater volatility during periods of economic uncertainty.
- Delhi, Mumbai, Kolkata: Silver at ₹2,64,900/kg (or ₹2,649/10 gm)
- Chennai: Silver at ₹2,69,900/kg (or ₹2,699/10 gm)
Factors Influencing Precious Metal Prices
Several factors typically influence gold and silver prices in India. These include international bullion rates, the movement of the Indian Rupee against the US Dollar, prevailing import duties, and seasonal demand for jewellery, particularly during wedding and festive seasons. Stable retail demand in certain regions is currently preventing sharp price corrections.
MCX Performance: Gold and Silver Futures
On the Multi Commodity Exchange (MCX), both gold and silver futures closed lower in the previous trading session (May 4, 2026), reflecting ongoing geopolitical volatility. June futures for gold settled around ₹1,49,350 per 10 grams, recording a decline of approximately 1%. Silver (July futures) experienced a more significant downturn, falling over 2% to close at ₹2,44,001 per kilogram.
Analysts suggest that traders are maintaining a cautious stance, awaiting clearer global macroeconomic signals, currency fluctuations, and further geopolitical developments that are expected to shape the future trajectory of precious metal markets.