Titan Shares Fall After Centre Raises Gold Import Duty To 15% — Is Jewellery Demand At Risk?
Gold and silver prices in India opened up firm on Thursday, May 7, 2026; bullion markets continue their ongoing upward surge on the back of the ongoing volatility. Gold was trading near all-time high prices on MCX, while silver moved up sharper, backed by fresh global cues and strong safe haven demand.
This rally is coming on the backdrop of global uncertainty, swings in currency values and robust investment demand; all are driving up gold prices and precious metals to higher levels, despite short-term volatility.
Gold prices gained ₹87, or 0.06%, to trade at 152,219 per 10 gm on MCX with an intraday session high and low of 152,889 and 151,602. Today the gold opened at ₹152,132, and the consolidated price remained at the all-time high level.
In early trade, the gains on silver were greater than those on gold. Silver gained 9,484 (3.88%) at 253,800 per kg, with an intraday session high and low of 249,316 and 255,409.
Bullion prices remain under pressure from the following:
Global political instability
Trends in volatility of the US Dollar
Trade worries persist.
Robust investment and jewellery demand
Risk-on sentiment is coming in intermittently, creating some short-term volatility, but safe haven buying remains strong.
Gold on COMEX was at $1,747.80 in early Asian trade May 7, 2026. The metal was up $33.80, or 0.72%, at $4,728.10 an ounce after trading as high as $4,729.10 and as low as $4,694.00.
The global trend continues to remain the same and supports domestic prices, keeping the sentiment of bullion positive across the markets.
Gold prices were mostly flat on domestic bullion markets.
24K Gold – 15,273 per gm (152,730 for 10 gm)
22K Gold: 14,000/gm; 140,003 for 10 gm
The rate for 20K standard gold is 12,728 per gram, and for 18K gold it is 11,455 per gram. The rate for 14K gold is 8,909 per gram.
Gold prices were trading at multi-session highs supported by global cues and currency trends.
Delhi 24K: ₹. 15,229, ₹. 13,961 per gm
Mumbai 24K: ₹. 15,214, ₹. 13,946 per gm.
Kolkata: 15,214 for 24K and 1,394.60/gm for 22K
Chennai: 15,383 for 24K and 14,101 per gm for 22K.
Chennai seems to be leading the race among other metros on prices, driven by domestic demand dynamics.
Silver prices rose in early trading:
999 Silver: ₹254/gm (₹254,080/kg)
925 Sterling Silver – ₹ 235 per gram. 900 Coin Silver – ₹ 229 per gram 800 German Silver: ₹203 per gram
Industrial and investment demand continues to underpin demand for silver.
Silver Prices by City
Delhi. 10g, ₹2,651.
Mumbai: ₹ 2,651/10g
Kolkata – ₹ 2,651 per 10g
Chennai ₹2,751 (10g)
Gold rose on Wednesday, following Tuesday’s decline, thanks to the easing of geopolitical risks after developments in the Middle East – namely, a delay in the publication of the details of the escort operation through the Strait of Hormuz. The move rebalanced the demand for safe-haven assets in international markets.
Gold prices saw a broad-based recovery on Wednesday. 24K gold jumped ₹2,130 to ₹151,310 per 10 grams. 22K and 18K gold also gained strongly ahead of steady MCX trade on Thursday.
Trade ₹ predicts relatively stable near-term prices, influenced by global bond yields, dollar value and global political affairs ₹, but demand by investors and jewellers will sustain prices.
Also Read: Should You Buy Gold Today Or Hold Back? Gulf Prices Stay Stable While India Sees Minor Drop
(Disclaimer: This article is for informational purposes only and should not be considered investment advice. The views, opinions, and recommendations expressed herein are those of the respective experts. Reader are advised to consult a qualified financial advisor before making any investment decisions.)
Priyanka Roshan is a business writer and chief sub-editor at the NewsX website who tracks everything from stock market swings and corporate earnings to personal finance trends and policy shifts. Known for turning fast-moving business developments into sharp, reader-friendly stories, she combines speed, accuracy, and a data-driven approach to break down complex financial news for everyday audiences.
With over 9.5 years of newsroom experience, Priyanka has worked with leading media organisations, including Moneycontrol, Times Now, and Ping Digital, covering diverse beats such as business, politics, technology, auto, travel, sports, and the world. From live breaking news desks to SEO-led digital storytelling, she specialises in creating engaging content that keeps readers informed without overwhelming them.
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