Gold Rates Dip on MCX Today; Check Latest Prices in Your City on May 7 Amid India-Pakistan Strain
Despite rising tensions between India and Pakistan, gold prices in India saw a dip on May 7. While the precious metal had rallied in previous sessions, the latest global cues - particularly the easing of safe-haven demand due to US-China trade talks - have caused a slight pullback.
Gold Slips on MCX, Silver Also Dips
On the Multi Commodity Exchange (MCX), gold fell by 0.84% to ₹96,669 per 10 grams on Wednesday morning.
Silver also declined by 0.24%, trading at ₹96,467 per kg.
In Mumbai, gold held steady at ₹90,750 for 22-carat and ₹99,000 for 24-carat.
Global Factors Influence the Slide
Gold and silver had surged more than 2.5% in the previous session, reflecting investor concern over geopolitical uncertainties. However, optimism around upcoming US-China trade talks calmed the markets, pulling international gold prices below $3,380/oz early Wednesday.
City-Wise Gold Prices on May 7 , 2025
City 22K Gold (10gm) 24K Gold (10gm)
| Delhi | ₹90,410 | ₹98,620 |
| Jaipur | ₹90,410 | ₹98,620 |
| Ahmedabad | ₹90,310 | ₹98,520 |
| Patna | ₹90,310 | ₹98,520 |
| Mumbai | ₹90,750 | ₹99,000 |
| Hyderabad | ₹90,750 | ₹99,000 |
| Chennai | ₹90,750 | ₹99,000 |
| Bengaluru | ₹90,750 | ₹99,000 |
| Kolkata | ₹90,750 | ₹99,000 |
Silver Rates Today
- Silver prices in Mumbai dropped by ₹100, settling at ₹96,800 per kg.
Why Gold Prices Keep Changing
Gold rates in India are influenced by several factors:
- Global market movements
- Currency exchange fluctuations
- Import duties and domestic taxes
Gold remains a staple in Indian households - not just for adornment, but as a trusted investment, especially during festivals and weddings.
With ongoing geopolitical developments and shifting global trade dynamics, gold prices may continue to see volatility. For investors and jewellery buyers alike, staying informed is key in this unpredictable bullion market.