Gold and Silver Prices Today, May 5: On Tuesday, gold and silver prices in India opened on a weak note as global cues and currency fluctuations continued to influence the market, but the sentiment remained muted. Global cues and currency fluctuations continue to impact prices, with investors remaining cautious as the precious metals market reacts to rising geopolitical tensions in West Asia, stronger crude prices, and a stronger dollar value.
Gold and Silver Prices Today, May 5: Gold Price Fell Below Key Support Levels
Gold prices, across purity classes, 24K, 22K and 18K, continued the slide seen in the last trading session. The 24-karat rates were trading just below 1.5 lakh per 10 grams. The gold price in India on May 5, 2026, for 24K is Rs 14,962 per gram, and for 22K it is 13,715 per gram.
The yellow metal remains vulnerable to fluctuations in the US dollar value and global spot rates. Usually a stronger dollar has the effect of depressing gold prices, making them more expensive to investors holding foreign currencies. Also, as the festive and wedding seasons get closer, domestic demand in India will continue to impact retail prices.
Gold and Silver Prices Today, May 5: Gold Rate in Different Cities (May 5, 2026)
Delhi: 24K – Rs 14,976/gm | 22K – Rs 13,729/gm
Mumbai: 24K – Rs 14,961/gm | 22K – Rs 13,741/gm
Kolkata: 24K- 14,961/gm | 22K- 13,741/gm
Chennai: 24K – 15,272/gm | 22K – 13,999/gm
Chennai still commands a premium over other big cities, suggesting different regional demand and municipal taxes.
Gold and Silver Prices Today, May 5: Global Factors Affecting Gold
International gold prices are hanging above $4,539 per troy ounce on May 5, clawing up some ground after losing about 2% in the previous trading session. And while gold is down 2.4% in the past month, it is still much above where it was last May, up more than 33%, highlighting its status as a longer-term hedge in the current market.
Gold and Silver Prices Today, May 5: Silver prices show minor recovery
The decline in silver prices seen in the previous session seems to be stabilising in early trades. Spot silver is up 0.2% at $72.89. But it fell 4% earlier on inflation fears and a stronger dollar.
Silver futures on Multi Commodity Exchange (MCX) settled 2.9% down at Rs 2,39,095 per kg in the previous trading session.
Gold and Silver Prices Today, May 5: Silver Rates In Indian Cities
Silver prices throughout major Indian cities are as follows:
Delhi, Mumbai, Kolkata, Gurugram, Noida, Chandigarh, Lucknow, Patna: 2,650 (10g) | Rs 2,65,000 (1kg)
Chennai: Rs 2,700 (10g) | Rs 2,70,000 (1kg)
Like gold, Chennai saw a modest premium over other major locations as per local demand trends.
| City | 10g Silver Rate (₹) | 100g Silver Rate (₹) | 1kg Silver Rate (₹) |
|---|---|---|---|
| Delhi | 2,650 | 26,500 | 2,65,000 |
| Mumbai | 2,650 | 26,500 | 2,65,000 |
| Kolkata | 2,650 | 26,500 | 2,65,000 |
| Chennai | 2,700 | 27,000 | 2,70,000 |
| Patna | 2,650 | 26,500 | 2,65,000 |
| Lucknow | 2,650 | 26,500 | 2,65,000 |
| Gurugram | 2,650 | 26,500 | 2,65,000 |
| Noida | 2,650 | 26,500 | 2,65,000 |
| Chandigarh | 2,650 | 26,500 | 2,65,000 |
Gold and Silver Prices Today, May 5: IBJA Benchmark Indicates Volatility
The benchmark silver price (999 purity) fluctuated from Rs 2,44,237 per kg in the morning of May 4 to Rs 2,40,120 per kg in the evening, showing the volatility in bullion prices throughout the intraday session, the IBJA said.
Gold and Silver Prices Today, May 5: Outlook: What to Watch For
Going forward, the bullion prices are expected to be in a range with a cautious bias. The direction of the US dollar, inflation data, and geopolitical tensions will dictate gold and silver prices. An intensification of geopolitical difficulties or a shift in the position of central banks could provide some additional impetus for the yellow and white metals.
The market is currently consolidating following the recent decline, and traders are expected to remain on the sidelines while they await fresh triggers from across the globe.
(Disclaimer: This article is for informational purposes only and should not be considered investment advice. The experts give their own recommendations, suggestions, views, and opinions. Please consult a financial advisor before making any investment decisions.)
