Gold and Silver Prices Surge Across India on May 7: City-by-City Breakdown
Gold and Silver Prices Surge Across India on May 7: City-by-City Breakdown
Gold prices climbed sharply across major Indian cities on Thursday, May 7, with both 24-karat and 22-karat rates rising by up to Rs 2,000 and silver registering a near Rs 10,000 jump — extending a global bullion rally driven by easing geopolitical tensions.
Global Rally Underpins Domestic Prices
Bullion markets remained firm following their biggest single-day gain since late March. According to Bloomberg, the surge was driven by hopes of reduced tensions in the US-Iran conflict, which simultaneously pushed oil prices lower and tempered inflation concerns.
Gold was trading above $4,690 per ounce after recording a 3 percent jump on Wednesday, May 6, providing a strong floor for domestic Indian rates.
Chennai Leads Metro Cities; Kerala Rates Diverge
Among major metros, Chennai recorded the highest gold prices, followed by Hyderabad, Bengaluru, and Mumbai. Kerala posted notably different figures, particularly for silver, reflecting regional pricing variations.
City-wise Gold and Silver Rates — May 7, 2026
What Retail Buyers Actually Pay
The rates listed above reflect base bullion prices and do not represent the final cost at jewellery stores. Retailers typically add making charges, applicable taxes, and GST, which can meaningfully increase the total amount paid by consumers.
Key Drivers Behind India’s Gold Prices
India’s domestic gold rates are shaped by a convergence of global and local factors. The most significant include:
