Slight increase in gold prices Delhi, Mumbai, Kolkata; silver rates decline

Gold was trading higher in the Indian market on Wednesday, 5 May. The MCX Gold future for delivery in June also increased 0.04 percent and touched Rs 46,890 at 2.08 pm. An analyst told Financial Express that demand for a safe haven during the COVID-19 pandemic is not letting the MCX gold futures fall lower than Rs 46,500. In India, the price of 10 grams of 22-carat gold on 5 May is Rs 44,580 while the same quantity of 24-carat gold costs Rs 45,580. In Delhi, the price of 22-carat gold is Rs 45,790 while 24-carat gold costs Rs 49,990 for 10 grams. There has been an increase of Rs 10 in the price of 10 grams of gold in the national capital. Similarly, in Mumbai, the price of gold increased by Rs 10 for both qualities. On 5 May, ten grams of 22-carat gold can be purchased for Rs 44,580 and 24-carat gold for Rs 45,580. The price of the yellow metal also increased by Rs 10 per 10 grams in Kolkata for both the qualities. Ten grams of 22-carat gold is priced at Rs 46,530 and 24-carat gold can be bought for Rs 49,320. On the other hand, the price of gold dipped in Chennai today. While ten grams of 22-carat gold costs Rs 44,320 after a decline of Rs 200 in its price, the same quantity of 24-carat gold is priced at Rs 48,350 after an increase of Rs 220. Internationally, the gold spot price at 2.28 pm was at $1,774.90 after a decrease of $4.10 or 0.23 percent. The price of silver in India decreased by Rs 300 per kilogram. A kilogram of the metal is priced at Rs 69,700 today, as per Good Returns. Silver is priced at Rs 69,700 in most of the major cities while the price of the metal in Chennai and Hyderabad is Rs 74,600 per kg.