Daily Bullion Trends: Gold Stable With Marginal Gains, Silver Drops In Delhi, Mumbai, Kolkata

Gold and silver prices on May 5 reflected mixed trends across India’s retail bullion markets. While gold maintained stability with slight upward momentum, silver witnessed a notable decline. The fluctuations were influenced by global geopolitical tensions, oil route risks, and profit booking in international commodity markets.

Gold Prices In Major Cities

Retail gold rates remained firm, supported by wedding season demand and safe-haven buying amid global uncertainty.

• Delhi: 24K gold ₹1,50,200–₹1,51,000 per 10g; 22K gold ₹1,37,900–₹1,38,500 per 10g
• Mumbai: 24K gold ₹1,49,800–₹1,50,600 per 10g; 22K gold ₹1,37,700–₹1,38,300 per 10g
• Kolkata: 24K gold ₹1,49,900–₹1,50,700 per 10g; 22K gold ₹1,37,700–₹1,38,400 per 10g 

Silver Prices Trend

Silver prices weakened significantly compared to gold. Domestic bullion markets reported declines of over ₹1,500 per kg.

Delhi/Mumbai/Kolkata: Silver (999 fine) ranged between ₹2,38,000–₹2,64,000 per kg, reflecting volatility in industrial demand and global market corrections. 

Market Drivers

• Geopolitical tensions: Escalating US-Iran conflict and Middle East instability are pushing investors toward gold as a safe-haven asset.
• Currency fluctuations: A stronger US dollar limited gold’s upside potential.
• Domestic demand: Wedding season in India continues to support retail gold buying.
• Industrial uncertainty: Silver’s weakness stems from volatility in industrial demand and profit booking after recent rallies. 

Key Highlights

• Gold prices stable with slight gains across Delhi, Mumbai, and Kolkata
• 24K gold around ₹1,49,800–₹1,51,000 per 10g; 22K gold ₹1,37,700–₹1,38,500 per 10g
• Silver prices dropped sharply to ₹2,38,000–₹2,64,000 per kg
• Global geopolitical tensions and strong US dollar influencing trends
• Wedding season demand supporting retail gold buying in India

Sources: Mint, Mission Ki Awaaz, gpaisa.in