As of May 10, the prices for gold and silver are experiencing notable fluctuations influenced by the recent decisions of the U.S. Federal Reserve and ongoing geopolitical tensions. With the Fed maintaining interest rates as of May 7, the allure of these precious metals as safe-haven investments is becoming increasingly pronounced. Investors are keenly watching developments, especially with rising tensions between India and Pakistan, alongside the latest conflicts involving Israel and Gaza.
Current Gold and Silver Rates in India
On the morning of May 10, gold prices exhibited a slight uptick. The MCX gold index registered at ₹96,535 per 10 grams, while silver was priced at ₹95,600 per kilogram.
Gold Prices Breakdown
- 24-carat gold: ₹96,880 per 10 grams
- 22-carat gold: ₹88,807 per 10 grams
- Silver (999 fine): ₹96,870 per kilogram
City-Specific Gold and Silver Prices
Let’s take a closer look at the gold and silver prices across major cities in India today.
Mumbai
- Gold bullion: ₹96,710 per 10 grams
- MCX Gold: ₹96,535 per 10 grams
- Silver bullion: ₹96,690 per kilogram
- MCX Silver (999): ₹96,748 per kilogram
Delhi
- Gold bullion: ₹96,540 per 10 grams
- MCX Gold: ₹96,535 per 10 grams
- Silver bullion: ₹96,530 per kilogram
- MCX Silver (999): ₹96,748 per kilogram
Chennai
- Gold bullion: ₹96,990 per 10 grams
- MCX Gold: ₹96,535 per 10 grams
- Silver bullion: ₹96,980 per kilogram
- MCX Silver (999): ₹96,748 per kilogram
Kolkata
- Gold bullion: ₹96,580 per 10 grams
- MCX Gold: ₹96,535 per 10 grams
- Silver bullion: ₹96,570 per kilogram
- MCX Silver (999): ₹96,535 per kilogram
Hyderabad
- Gold bullion: ₹96,860 per 10 grams
- MCX Gold: ₹96,535 per 10 grams
- Silver bullion: ₹96,850 per kilogram
- MCX Silver (999): ₹96,748 per kilogram
Bengaluru
- Gold bullion: ₹96,780 per 10 grams
- MCX Gold: ₹96,535 per 10 grams
- Silver bullion: ₹96,770 per kilogram
- MCX Silver (999): ₹96,748 per kilogram
Conclusion
The precious metals’ market remains a focal point for investors amidst global uncertainty. With gold prices having surged by 30% over the last year and consistently outperforming inflation, it’s no wonder that many view these assets as a hedge during turbulent times. As tensions continue to shape the economic landscape, keeping a close watch on gold and silver prices will be essential for savvy investors.
For more insights into market trends and investment strategies, consider exploring resources on investment strategies or market analysis.
