The bullion market in India witnessed steady movement today, with gold and silver prices holding firm amid global economic uncertainties and local demand pressures. On May 5, 2026, gold prices hovered around ₹14,961 per gram for 24K purity and ₹13,714 per gram for 22K, while silver traded near ₹2,64,900 per kilogram.
Across major cities, rates showed slight variations due to local taxes and jewellers’ margins. In Delhi and Mumbai, 24K gold was priced at approximately ₹14,918 per gram, while Chennai recorded a higher rate of ₹15,077 per gram, reflecting regional demand. Silver prices remained consistent at ₹2,649 per 10 grams in most metros, with Chennai quoting slightly higher at ₹2,699 per 10 grams.
Market analysts attribute the current stability to a mix of global geopolitical tensions, currency fluctuations, and seasonal demand. A weaker rupee against the US dollar has increased import costs, keeping domestic gold prices elevated. Meanwhile, silver continues to show volatility due to its dual role as both a precious and industrial metal, with demand linked to electronics and renewable energy sectors.
With the wedding and festive season approaching, jewellers expect demand to remain strong, preventing sharp corrections in prices. Investors, too, are closely watching bullion trends as a hedge against inflation and market uncertainty.
For buyers in Shivamogga and other tier‑two cities, local jewellery shops are quoting slightly above national averages, with 22K gold around ₹13,675–₹13,700 per gram and silver near ₹2,55,000 per kilogram.
