As of May 12, fluctuations in the prices of gold and silver are being influenced by a mix of geopolitical tensions, decisions made by banks, ongoing trade negotiations between the United States and China, and shifts in currency values. On this date, the ongoing trade discussions have led to a dip in gold prices, falling below the ₹95,000 mark. With close attention on the ceasefire between India and Pakistan, and key internal data pending, analysts predict gold prices may hover around the ₹94,000 range, similar to Friday’s closing figures.
Market Insights on Gold and Silver
Jateen Trivedi from LKP Securities notes that while there’s some trade optimism, the market remains fragile. He emphasizes that “given the ongoing geopolitical challenges, we should anticipate significant volatility as market sentiments fluctuate.” As a traditionally safe investment, both gold and silver are often recommended for portfolio diversification in uncertain times, although investors are advised to proceed with caution.
- Annual Growth: Gold has surged by 30% over the past year.
- CAGR: It has delivered a 15% Compound Annual Growth Rate (CAGR) since 2001.
- Inflation Hedge: Since 1995, gold has outperformed inflation by 2-4%.
Current Gold and Silver Prices in India – May 12
Prices for gold and silver opened lower today, with key figures as follows:
- MCX Gold: ₹94,280 per 10 grams
- MCX Silver: ₹96,188 per kilogram
- 24-Carat Gold: ₹94,690 per 10 grams (according to the Indian Bullion Association)
- 22-Carat Gold: ₹86,799 per 10 grams
- Silver (999 Fine): ₹96,320 per kilogram
City-wise Gold and Silver Prices
Here’s a snapshot of gold and silver prices across major cities in India as of May 12:
Mumbai
- Gold Bullion: ₹94,520 per 10 grams
- MCX Gold: ₹94,280 per 10 grams
- Silver Bullion: ₹96,150 per kilogram
- MCX Silver 999: ₹96,188 per kilogram
Chennai
- Gold Bullion: ₹94,710 per 10 grams
- MCX Gold: ₹94,280 per 10 grams
- Silver Bullion: ₹96,340 per kilogram
- MCX Silver 999: ₹96,188 per kilogram
Kolkata
- Gold Bullion: ₹94,250 per 10 grams
- MCX Gold: ₹94,280 per 10 grams
- Silver Bullion: ₹96,070 per kilogram
- MCX Silver 999: ₹96,188 per kilogram
Hyderabad
- Gold Bullion: ₹94,520 per 10 grams
- MCX Gold: ₹94,280 per 10 grams
- Silver Bullion: ₹96,350 per kilogram
- MCX Silver 999: ₹96,188 per kilogram
Bengaluru
- Gold Bullion: ₹94,450 per 10 grams
- MCX Gold: ₹94,280 per 10 grams
- Silver Bullion: ₹96,270 per kilogram
- MCX Silver 999: ₹96,188 per kilogram
Delhi
- Gold Bullion: ₹94,210 per 10 grams
- MCX Gold: ₹94,280 per 10 grams
- Silver Bullion: ₹96,030 per kilogram
- MCX Silver 999: ₹96,188 per kilogram
For up-to-date gold and silver prices in your city, check local market listings. As always, investors are encouraged to stay informed about market trends and potential volatility when considering their investment strategies.
