Gold prices in the country have reached a new peak. Prices have increased in all major cities. On the morning of May 7, the price of 24-carat gold reached ₹152,290 per 10 grams in the capital Delhi. In Mumbai, the price of 24-carat gold reached ₹152,140 per 10 grams. In the Delhi gold market, just a day earlier, prices had risen by ₹2,900 – or about 2% – to ₹155,400 per 10 grams. In the international market, spot gold is trading at US$4,663.70 an ounce.
Demand for precious metals has increased after tensions in West Asia eased and oil prices fell. Reports suggest that the United States and Iran may be finalizing a draft of an agreement to end the conflict, which has been ongoing since late February. This development has strengthened the prospects for the smooth flow of trade through the vital Strait of Hormuz shipping route and eased concerns about inflation.
Gold prices in major cities of the country
Gold Price in Delhi: In Delhi, the price of 24 carat gold is ₹152,290 per 10 grams. The price of 22 carat gold is ₹139,610 per 10 grams.
Mumbai and Kolkata: Currently, in Mumbai and Kolkata, the price of 22 carat gold is ₹139,460 per 10 grams, while the price of 24 carat gold is ₹152,140 per 10 grams.
Gold Price in Chennai: 24 karat gold price is ₹153,830 per 10 grams. The price of 22 carat gold is ₹141,010 per 10 grams.
Prices in Pune and Bengaluru: In these two cities, 24-carat gold is priced at ₹139,460 per 10 grams, and 22-carat gold is priced at ₹138,340 per 10 grams. silver prices
The prices of silver – the second most precious metal – also saw a rise on the morning of May 4. Its price reached ₹265,100 per kg. In the international market, spot silver is trading at US$76.24 an ounce. On Wednesday, May 6, silver prices rose by ₹3,500 – or 1.4% – to ₹254,500 per kg in the precious metals market in Delhi. In January this year, the domestic price of silver had crossed the ₹400,000 mark. Domestic prices of gold and silver are influenced by both domestic and global factors.
