As of May 7, gold prices across major Indian cities reflect a sturdy market resilience, notably amidst ongoing geopolitical tensions. Following India’s recent military operation, Operation Sindoor, targeting terror sites in Pakistan and Pakistan-occupied-Kashmir, the Indian stock market has exhibited remarkable stability. Economic experts attribute this buoyancy to robust domestic consumption, proactive government initiatives, and anticipations of a prosperous monsoon season, contributing to a positive economic outlook for India.

Current Gold and Silver Prices in India

Recent trends show that both gold and silver are reinforcing their status as safe-haven assets amid easing global market pressures. Over the past year, gold prices have surged by 30%, boasting a compound annual growth rate (CAGR) of 15% since 2001. Furthermore, since 1995, gold has outperformed inflation by 2-4%. On April 22, gold prices peaked at ₹1 lakh per 10 grams before experiencing a slight decline due to reduced global concerns surrounding trade policies.

• Gold Prices on May 7:

  • MCX gold index: ₹97,097/10 gm
  • 24-carat gold: ₹97,430/10 gm
  • 22-carat gold: ₹89,311/10 gm
• Silver Prices on May 7:
  • MCX silver: ₹96,599/kg
  • Silver 999 Fine: ₹96,700/kg

City-Specific Gold and Silver Rates

For those looking to invest or check current rates, here are the gold and silver prices in several major cities:

Kolkata:

• Gold bullion: ₹97,170/10 gm
• MCX Gold: ₹97,097/10 gm
• Silver bullion: ₹96,380/kg
• MCX Silver 999: ₹96,599/kg

Mumbai:

• Gold bullion: ₹97,250/10 gm
• MCX Gold: ₹97,097/10 gm
• Silver bullion: ₹96,470/kg
• MCX Silver 999: ₹96,599/kg

Chennai:

• Gold bullion: ₹97,520/10 gm
• MCX Gold: ₹97,097/10 gm
• Silver bullion: ₹96,720/kg
• MCX Silver 999: ₹96,599/kg

New Delhi:

• Gold bullion: ₹97,070/10 gm
• MCX Gold: ₹97,097/10 gm
• Silver bullion: ₹96,190/kg
• MCX Silver 999: ₹96,599/kg

Hyderabad:

• Gold bullion: ₹94,620/10 gm
• MCX Gold: ₹95,221/10 gm
• Silver bullion: ₹95,330/kg
• MCX Silver 999: ₹96,524/kg

Bengaluru:

• Gold bullion: ₹94,500/10 gm
• MCX Gold: ₹95,221/10 gm
• Silver bullion: ₹95,200/kg
• MCX Silver 999: ₹96,524/kg

In light of the current economic landscape, it’s clear that both gold and silver remain attractive options for investors seeking stability. As the situation unfolds, keeping an eye on market trends will be essential for informed investment decisions.