Gold and silver prices today on 5 May: The price of the yellow metal in India’s retail market remained marginally higher on Monday, 5 May, with both 24-karat and 22-karat gold rates rising across major cities. Silver prices, on the other hand, declined in the domestic bullion market.
MCX gold June futures were 0.16% up at ₹1,49,579 per 10 grams, while MCX silver futures were 3.37% lower at ₹2,38,013 per kg around 9:39 AM.
Focus now shifts towards the ongoing geopolitical problems across the globe, with the US-Israel war against Iran getting more intensified. The United Arab Emirates said Iran launched missile attacks and drones at them.
The reported attacks bring into question an already shaky ceasefire between the United States and Iran that began on 8 April.
Trump reaction
President Donald Trump, in a conversation with Fox News, said that Iran will be “blown off the face of the earth” if it targets US ships that are protecting commercial vessels transiting the Strait of Hormuz.
South Korean cargo attacked
Trump also stated in a Truth Social post that a South Korean cargo ship had come under fire from Iran in the waterway. “Perhaps it’s time for South Korea to come and join the mission!” Trump wrote in the post.
These significant geopolitical developments are bound to have a direct impact on global oil and commodity prices in the coming days, depending on how the ongoing Middle East tensions unfold.
In this backdrop, let us look at the Gold and Silver prices across major Indian cities on 5 May, 2026. Do keep in mind, in the retail market, gold is sold in 24-karat and 22-karat purity. While 24-karat gold is considered the purest form, 22-karat gold is commonly used for jewellery because it’s more durable.
Gold Prices in Mumbai — 5 May
24 karat gold rate in Mumbai — ₹149,530/10 gm
22 karat gold rate in Mumbai — ₹137,069/10 gm
Silver 999 Fine rate in Mumbai — ₹242,940/1 kg
Gold Prices in New Delhi — 5 May
24 karat gold rate in New Delhi — ₹149,270/10 gm
22 karat gold rate in New Delhi — ₹136,831/10 gm
Silver 999 Fine rate in New Delhi — ₹242,520/1 kg
Gold Prices in Ahmedabad — 5 May
24 karat gold rate in Ahmedabad — ₹149,730/10 gm
22 karat gold rate in Ahmedabad — ₹137,253/10 gm
Silver 999 Fine rate in Ahmedabad — ₹243,260/1 kg
Gold Prices in Bengaluru — 5 May
24 karat gold rate in Bengaluru — ₹149,590/10 gm
22 karat gold rate in Bengaluru — ₹137,124/10 gm
Silver 999 Fine rate in Bengaluru — ₹243,470/1 kg
Gold Prices in Kolkata — 5 May
24 karat gold rate in Kolkata — ₹149,270/10 gm
22 karat gold rate in Kolkata — ₹136,831/10 gm
Silver 999 Fine rate in Kolkata — ₹242,950/1 kg
Gold Prices in Hyderabad — 5 May
24 karat gold rate in Hyderabad — ₹149,710/10 gm
22 karat gold rate in Hyderabad — ₹137,234/10 gm
Silver 999 Fine rate in Hyderabad — ₹243,666/1 kg
Gold Prices in Chennai — 5 May
24 karat gold rate in Chennai — ₹149,900/10 gm
22 karat gold rate in Chennai — ₹137,408/10 gm
Silver 999 Fine rate in Chennai — ₹243,980/1 kg
Gold prices last year experienced their strongest bull run since 1979, rising by over 75%. In recent months, gold prices have risen modestly amid strong safe-haven demand and global economic uncertainty stemming from ongoing geopolitical issues, such as the US-Iran war in the Middle East.
US equity market reaction
US stock futures were little changed on Monday night after the major averages suffered declines amid growing concerns that conflict in the Middle East could escalate again.
S&P 500 futures traded near the flatline, while Nasdaq 100 futures slipped 0.1%. Futures tied to the Dow Jones Industrial Average added just 16 points.
Stocks fell across the board on Monday, with the blue-chip Dow falling 557.37 points, or 1.13%. The S&P 500 lost 0.41%, while the tech-heavy Nasdaq Composite slipped 0.19%.
Nations across the world are now eagerly waiting for a peace resolution between the US and Iran, with the chokepoint Strait of Hormuz a serious concern. This is because the Strait of Hormuz is a critical global chokepoint, accounting for roughly 20% of the world’s oil and liquefied natural gas (LNG) consumption. It is critical for Asian economies, such as India’s. Disruptions in traffic through this chokepoint have impacted global oil and energy prices.
