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Wed, 24 Jun 2026
04:42:03 pm
Wed, 24 Jun 2026
04:42:03 pm
Synopsis
Gold and silver prices remained elevated across India on May 10, 2026, with gold trading above ₹1.52 lakh per 10 grams and silver near ₹2.80 lakh per kilogram in southern cities. Bullion markets continue to be supported by geopolitical tensions, weaker dollar movement, and strong industrial demand for silver.
Gold and silver prices in India remained elevated on Sunday, May 10, 2026, even as global commodity markets stayed closed for the weekend. Retail bullion prices across major Indian cities continued to reflect Friday’s closing levels along with local jeweller premiums and regional demand trends.
Precious metals witnessed a strong weekly performance, supported by geopolitical uncertainty, softer US dollar movement, easing bond yields, and expectations surrounding future US Federal Reserve policy actions. While gold remained stable near the ₹1.52 lakh mark per 10 grams, silver continued to outperform with strong industrial and investment demand.
Gold prices stayed firm after a week marked by global macroeconomic volatility and geopolitical developments in West Asia. Meanwhile, silver prices surged sharply amid rising industrial demand from sectors such as:
Analysts believe bullion markets are now entering a consolidation phase ahead of fresh global inflation data and central bank commentary expected later this week.
Retail gold prices varied slightly across cities due to local taxes, transportation costs, and jeweller-specific pricing structures.
| City | 24K Gold Price | 22K Gold Price | 18K Gold Price |
|---|---|---|---|
| New Delhi | ₹1,52,500 | ₹1,39,800 | ₹1,14,390 |
| Mumbai | ₹1,52,350 | ₹1,39,650 | ₹1,14,260 |
| Chennai | ₹1,54,370 | ₹1,41,500 | ₹1,15,420 |
| Bengaluru | ₹1,52,350 | ₹1,39,650 | ₹1,14,260 |
| Hyderabad | ₹1,52,350 | ₹1,39,650 | ₹1,14,260 |
| Kolkata | ₹1,52,350 | ₹1,39,650 | ₹1,14,260 |
| Ahmedabad | ₹1,52,400 | ₹1,39,700 | ₹1,14,300 |
| Pune | ₹1,52,350 | ₹1,39,650 | ₹1,14,260 |
Prices are indicative retail rates and exclude 3% GST and jewellery making charges.
Silver prices remained significantly strong across India, with southern cities trading at a premium due to industrial and retail demand.
| City | Silver Price (10g) | Silver Price (1kg) |
|---|---|---|
| Chennai | ₹2,800 | ₹2,80,000 |
| Bengaluru | ₹2,800 | ₹2,80,000 |
| Hyderabad | ₹2,800 | ₹2,80,000 |
| New Delhi | ₹2,750 | ₹2,75,000 |
| Mumbai | ₹2,750 | ₹2,75,000 |
| Kolkata | ₹2,750 | ₹2,75,000 |
| Ahmedabad | ₹2,750 | ₹2,75,000 |
| Pune | ₹2,750 | ₹2,75,000 |
Silver has emerged as one of the strongest-performing commodities in recent weeks due to rising industrial usage and safe-haven buying.
One of the biggest market-moving developments remains the ongoing diplomatic negotiations between the United States and Iran.
Investors are closely tracking developments surrounding the Strait of Hormuz, a strategically important oil shipping route. Any progress toward easing tensions could lower crude oil prices and reduce inflationary fears globally.
However, uncertainty continues to keep safe-haven demand for gold intact.
Gold and silver prices are also benefiting from a softer US Dollar Index.
A weaker dollar typically boosts bullion demand because precious metals become cheaper for buyers using other currencies. Lower bond yields are further supporting investor interest in non-yielding assets like gold.
Markets are gradually reassessing expectations around future US Federal Reserve rate decisions.
Cooling inflation expectations and stabilizing crude oil prices have increased speculation that the Fed may adopt a less aggressive stance in the coming months.
Lower interest rate expectations generally support gold prices because the opportunity cost of holding bullion decreases.
Silver continues to outperform gold due to rising structural demand from multiple industries.
| Sector | Demand Impact |
|---|---|
| Solar Panels | High |
| AI Data Centers | Increasing |
| EV Manufacturing | Strong |
| Electronics | Stable |
| Green Energy | Expanding |
Analysts believe industrial demand could continue supporting silver prices even during periods of short-term correction.
| Metal | Weekly Trend | Market Sentiment |
|---|---|---|
| Gold | Stable to Positive | Safe-haven buying |
| Silver | Strong Bullish Momentum | Industrial + Investment Demand |
Silver has significantly outperformed gold on a percentage basis during the week.
Southern Indian cities often witness higher precious metal prices due to:
Cities like Chennai, Hyderabad, and Bengaluru continue to command a premium compared to western and northern markets.
Analysts expect bullion markets to remain highly volatile next week as investors track:
| Commodity | Support Level | Resistance Level |
|---|---|---|
| Gold | ₹1.51 lakh | ₹1.55 lakh |
| Silver | ₹2.68 lakh | ₹2.85 lakh |
Gold is currently seen trading in a consolidation zone, while silver maintains a stronger bullish bias.
Precious metals continue to play a crucial role in portfolio diversification during periods of:
Experts believe gold remains a strong long-term hedge, while silver may offer higher volatility-driven upside due to industrial demand growth.
Gold and silver prices remained resilient on May 10, 2026, despite weekend market closure. Ongoing geopolitical tensions, softer dollar movement, and changing Federal Reserve expectations continue to support precious metals globally.
While gold is consolidating after recent gains, silver appears to be entering a stronger momentum phase driven by industrial demand and green energy expansion. Investors are likely to remain cautious but optimistic as markets head into another macro-heavy trading week.
Gold prices remain elevated due to geopolitical uncertainty, softer US dollar movement, and expectations of future interest rate cuts.
Silver is benefiting from both investment demand and strong industrial demand from solar, AI, EV, and electronics sectors.
Chennai currently has the highest gold prices among major Indian cities.
Differences arise due to state taxes, transportation costs, jeweller premiums, and local demand conditions.
Analysts suggest staggered accumulation during market dips instead of aggressive lump-sum buying due to ongoing volatility.
US inflation data, Federal Reserve commentary, crude oil prices, and geopolitical developments will be the major drivers.
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