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Amidst the ongoing fluctuations in international markets and geopolitical tensions, there has been a decline in the prices of gold and silver in the Indian bullion market. Gold prices have reached below Rs 1.50 lakh. On May 5, 2026, the price of 24 carat gold remains at the level of Rs 1,49,230 per 10 grams. At the same time, the price of 22 carat gold, which is most used for jewellery, is trading around Rs 1,36,900 per 10 grams.

Silver is trading around Rs 2,55,000. Globally, spot silver fell 2.55 percent to $ 73.43 an ounce and gold slipped 1.07 percent to $ 4,565.68 an ounce. There is an atmosphere of uncertainty among investors due to increasing tension between America and Iran in West Asia. It is often seen that gold or other metals rise in the event of war, but this time rising energy prices have increased the concern of inflation, due to which investors are a little cautious.

Apart from this, the strength of the US dollar in the international market and fluctuations in crude oil prices are also affecting the Indian rupee, as it impacts the import duty and domestic prices of gold. Still the price of crude remains at 105 to 115 dollars per barrel. When crude is expensive, demand for the dollar increases, which affects its prices. If tensions escalate further, oil prices could push the global economy into recession.

Gold has been under pressure in the international market due to the US Federal Reserve (US Fed) keeping interest rates stable and the dollar strengthening. Despite the wedding season in India, rising gold prices have hit retail demand. This is why instead of heavy jewelery people are giving preference to light weight jewelery and exchange of old gold. Coins are also attracting people for investment. Decrease in industrial demand and selling of silver in global markets are considered to be the main reasons for the decline.

If you are planning to invest, take the decision thoughtfully. If you are also thinking of buying gold, then definitely check the BIS Hallmark and HUID code. Keep in mind that the rates issued by India Bullion and Jewelers Association (IBJA) do not include GST and making charges, hence the final price may differ in different cities and showrooms. This article has been written for information purposes only, do not consider it as investment advice. We do not guarantee or take any responsibility for the accuracy or reliability of any content. Investing in the market is subject to risks. Be sure to consult your financial advisor or market expert before making any type of investment.