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Thu, 06 Aug 2026
03:56:50 am
Thu, 06 Aug 2026
03:56:50 am
Rudransh Sangwan
Published at: May 7, 2026, 6:10 AM
Synopsis
Gold and silver prices in India edged higher on May 7, 2026, with 24K gold trading near ₹1.52 lakh per 10 grams and silver hovering between ₹2.65 lakh and ₹2.75 lakh per kg across major cities. Check the latest city-wise bullion rates and key global factors driving precious metal prices today.
Gold and silver prices in Indiawitnessed a marginal rise on May 7, 2026, as global bullion markets remained volatile amid mixed signals from geopolitical developments, US monetary policy expectations, and fluctuating crude oil prices.
Retail gold prices across major Indian cities continued trading near the ₹1.52 lakh per 10 grams mark for 24-karat gold, while silver prices remained elevated above ₹2.65 lakh per kilogram in several cities. Analysts say bullion prices are currently being supported by dip-buying activity and continued global uncertainty, although higher US bond yields are limiting aggressive upside momentum.
The latest movement in precious metals comes after recent volatility triggered by changing expectations around US interest rates, cooling tensions in West Asia, and strong industrial demand for silver.
Gold prices remained largely stable across India with slight regional variations caused by local taxes, transportation costs, and jeweller premiums.
| City | 24K Gold | 22K Gold | 18K Gold |
|---|---|---|---|
| Mumbai | ₹1,52,140 | ₹1,39,460 | ₹1,14,150 |
| New Delhi | ₹1,52,290 | ₹1,39,610 | ₹1,14,300 |
| Chennai | ₹1,53,830 | ₹1,41,010 | ₹1,17,710 |
| Kolkata | ₹1,52,140 | ₹1,39,460 | ₹1,14,150 |
| Bengaluru | ₹1,52,140 | ₹1,39,460 | ₹1,14,150 |
| Hyderabad | ₹1,52,140 | ₹1,39,460 | ₹1,14,150 |
| Ahmedabad | ₹1,52,190 | ₹1,39,510 | ₹1,14,200 |
| Pune | ₹1,52,140 | ₹1,39,460 | ₹1,14,150 |
| Jaipur | ₹1,52,290 | ₹1,39,610 | ₹1,14,300 |
Chennai continued to report the highest gold prices among major Indian cities due to higher local premiums and taxation differences.
Silver prices also remained elevated as industrial demand and supply-side concerns continued supporting the metal despite recent corrections from all-time highs.
| City | Silver Price (10g) | Silver Price (1kg) |
|---|---|---|
| Mumbai | ₹2,651 | ₹2,65,100 |
| New Delhi | ₹2,651 | ₹2,65,100 |
| Chennai | ₹2,751 | ₹2,75,100 |
| Kolkata | ₹2,651 | ₹2,65,100 |
| Bengaluru | ₹2,700 | ₹2,70,000 |
| Hyderabad | ₹2,751 | ₹2,75,100 |
| Ahmedabad | ₹2,651 | ₹2,65,100 |
| Pune | ₹2,651 | ₹2,65,100 |
Southern cities including Chennai and Hyderabad continued trading at a noticeable premium compared to northern and western markets.
Bullion markets are currently reacting to multiple global and domestic factors simultaneously.
The recent recovery in precious metals is largely being driven by:
However, higher US Treasury yields and expectations of prolonged elevated interest rates continue limiting stronger rallies.
One of the biggest drivers behind recent bullion price movements remains the evolving geopolitical situation in West Asia.
While tensions around the Strait of Hormuz and broader Iran-related concerns have shown signs of stabilisation, investors continue maintaining exposure to safe-haven assets like gold due to lingering uncertainty.
| Factor | Impact on Bullion |
|---|---|
| Strait of Hormuz tensions | Supports safe-haven buying |
| Cooling oil prices | Reduces inflation fears |
| Iran-related uncertainty | Increases volatility |
| Global risk sentiment | Impacts investor flows |
Analysts say gold prices are unlikely to see aggressive downside unless geopolitical tensions ease substantially.
The largest pressure point for gold and silver currently comes from expectations surrounding US interest rates.
Markets continue expecting the US Federal Reserve to maintain a “higher for longer” stance on rates because of persistent inflation concerns and strong economic data.
Higher interest rates generally hurt precious metals because bullion assets do not generate interest income.
| Scenario | Likely Bullion Impact |
|---|---|
| Higher US rates | Negative for gold |
| Falling bond yields | Positive for gold |
| Weak US dollar | Supports prices |
| Rate cuts | Strong bullish trigger |
Strong US Treasury yields continue attracting institutional money toward fixed-income assets instead of non-yielding bullion investments.
Silver remains significantly more volatile than gold because it functions both as a precious metal and an industrial commodity.
Although silver has corrected sharply from its earlier highs, analysts believe its long-term demand outlook remains extremely strong because of rapid industrial adoption.
Approximately 60% of global silver demand now comes from industrial applications rather than investment demand.
This structural demand shift is one reason analysts remain optimistic about silver’s long-term outlook despite short-term volatility.
Another major support factor for gold prices is continued central bank buying globally.
Countries including China and Poland have continued increasing gold reserves as part of reserve diversification strategies away from the US dollar.
| Country Trend | Market Impact |
|---|---|
| China accumulation | Supports long-term demand |
| Emerging market buying | Strengthens gold floor |
| Dollar diversification | Positive for bullion |
Analysts believe this sustained institutional demand is helping create a long-term price floor for gold globally.
Precious metal prices are expected to remain highly sensitive to upcoming global developments.
Any signs of interest rate cuts or renewed geopolitical escalation could trigger another sharp rally in gold and silver prices.
Both metals are currently being driven by different factors.
| Metal | Primary Driver | Risk Level |
|---|---|---|
| Gold | Safe-haven demand | Moderate |
| Silver | Industrial demand | High volatility |
Gold remains relatively stable and defensive, while silver offers potentially higher upside but with greater short-term volatility.
Gold and silver prices in India remained firm on May 7, 2026, supported by global uncertainty, strong industrial demand, and continued safe-haven buying. While rising US interest rates are limiting aggressive upside momentum, structural factors including central bank accumulation and renewable energy demand continue supporting long-term bullion prices.
Silver remains particularly volatile due to its dual role as both an industrial and precious metal, while gold continues benefiting from geopolitical uncertainty and portfolio diversification demand.
Investors are expected to closely monitor global economic signals, crude oil trends, and Federal Reserve commentary for the next major direction in bullion markets.
Gold prices in India on May 7, 2026, are trading around ₹1,52,000 per 10 grams for 24K gold in major cities like Mumbai, Delhi, Bengaluru, and Hyderabad.
Gold and silver prices are rising due to geopolitical uncertainty, weaker US dollar movement, dip-buying activity, and continued industrial demand for silver. Cooling oil prices have also supported investor sentiment in bullion markets.
Among major Indian cities, Chennai is reporting the highest gold prices today, with 24K gold trading near ₹1,53,830 per 10 grams.
Silver is more volatile because it has both industrial and investment demand. Around 60% of silver consumption comes from sectors like solar panels, electronics, EVs, and AI infrastructure, making prices more sensitive to economic and industrial trends.
Analysts believe gold prices could remain strong if geopolitical tensions continue, the US dollar weakens, or central banks maintain aggressive gold buying. However, higher US interest rates may limit sharp rallies in the near term.
Silver remains attractive for long-term investors because of rising industrial demand from renewable energy, electronics, and AI-related infrastructure. However, short-term volatility remains high compared to gold.
Gold prices in India are influenced by international bullion prices, the rupee-dollar exchange rate, import duties, GST, transportation costs, and local jeweller premiums.
Gold prices vary slightly between cities due to differences in local taxes, transportation charges, state-level levies, and jeweller-specific making charges.
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