KKN Gurugram Desk | On Wednesday, May 7, 2025, there has been a notable shift in the prices of gold and silver in India. After a significant increase in prices, gold is trending near ₹99,000 per 10 grams, and silver has surged to ₹99,000 per kilogram. These price changes come after a steady fluctuation in the rates of precious metals in the first week of May. For those planning to buy gold or silver today, it’s essential to stay updated with the latest rates. This article provides detailed insights into the current prices of gold and silver in various cities, including Delhi, Mumbai, Kolkata, and Chennai.
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Latest Gold and Silver Rates on May 7, 2025
The price of gold saw an increase of ₹540 per 10 grams, while silver prices surged by ₹2,100 per kilogram. Following these changes, the gold price is now trending around ₹99,000, and silver prices are maintaining a similar range at ₹99,000 per kilogram.
According to the latest updates from the bullion markets, the following are the precise rates for 22-carat and 24-carat gold in key cities:
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22-carat gold is priced at ₹90,900 per 10 grams.
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24-carat gold is priced at ₹99,150 per 10 grams.
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18-carat gold is priced at ₹74,380 per 10 grams.
Meanwhile, the price of 1 kilogram of silver is ₹99,000, with variations across different cities.
Gold Rates in Major Cities: May 7, 2025
Here’s a breakdown of the gold prices in major cities:
18-Carat Gold Prices:
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Delhi: ₹74,380 per 10 grams
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Kolkata and Mumbai: ₹74,250 per 10 grams
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Indore and Bhopal: ₹74,290 per 10 grams
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Chennai: ₹74,550 per 10 grams
22-Carat Gold Prices:
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Indore and Bhopal: ₹90,800 per 10 grams
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Jaipur, Lucknow, and Delhi: ₹90,900 per 10 grams
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Hyderabad, Kerala, Kolkata, and Mumbai: ₹90,750 per 10 grams
24-Carat Gold Prices:
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Indore and Bhopal: ₹99,050 per 10 grams
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Delhi, Jaipur, Lucknow, and Chandigarh: ₹99,150 per 10 grams
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Hyderabad, Kerala, Bengaluru, and Mumbai: ₹99,000 per 10 grams
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Chennai: ₹99,000 per 10 grams
As we can see, Delhi has seen a slight uptick in the prices, with 24-carat gold being priced higher at ₹99,150 per 10 grams. Other cities like Mumbai, Kolkata, and Hyderabad are close to these rates, maintaining a relatively steady pricing trend.
Silver Prices in Major Cities: May 7, 2025
The price of silver has seen an increase of ₹2,100 per kilogram today. Here are the silver prices across various major cities:
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Delhi, Mumbai, Jaipur, Kolkata, Ahmedabad, Lucknow: ₹99,000 per kilogram
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Chennai, Madurai, Hyderabad, Kerala: ₹1,11,000 per kilogram
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Bhopal and Indore: ₹99,000 per kilogram
The sharp difference in silver prices between cities like Chennai and others is attributed to regional fluctuations and local demand.
Gold Purity: How to Check the Purity of Gold?
When purchasing gold, it is essential to ensure that it is of the right purity. The Indian Standard Organization (ISO) has set norms for recognizing the purity of gold through hallmarking. Here’s how you can check the purity of gold:
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24-carat gold is 99.9% pure and is considered pure gold.
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22-carat gold contains 91% pure gold, with the remaining 9% being other metals like copper, silver, or zinc, which are added to make the jewelry stronger and durable.
Hallmarks on gold jewelry will indicate its purity, such as:
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24-carat gold will be marked with 999 (representing 99.9% purity).
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22-carat gold will be marked with 916 (representing 91.6% purity).
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18-carat gold will be marked with 750 (representing 75% purity).
In India, most gold jewelry is sold in 18, 20, and 22-carat varieties, as 24-carat gold is usually not made into jewelry due to its softness.
Is Gold Pure or Not? How to Identify Genuine Gold?
To determine if the gold is pure, you should always check the hallmark given by the Bureau of Indian Standards (BIS). This hallmark certifies that the gold jewelry meets the required purity standards and is trustworthy. Here’s how you can identify genuine gold:
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24-carat gold: This is pure gold with no alloy mixed in it. It is often used in coins and bars, but due to its softness, it is not commonly used for jewelry.
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22-carat gold: Approximately 91% pure and is widely used for making jewelry. It is strong enough for daily use while maintaining its purity.
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18-carat gold: This is a mix of 75% gold and 25% alloy, making it suitable for jewelry but at a lower purity.
The hallmark system ensures that the gold you buy is as pure as it is advertised. Always check for the hallmark when purchasing gold jewelry to ensure that you are getting the best quality gold.
Current Market Trends: Why Are Gold and Silver Prices Fluctuating?
The prices of gold and silver often fluctuate due to various factors, including global economic conditions, geopolitical tensions, and supply and demand dynamics in the market. In recent weeks, the volatility in the prices of these precious metals has been noticeable.
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Geopolitical Events: Events such as the India-Pakistan tensions or global instability often drive investors towards gold as a safe-haven asset, thus increasing demand and raising prices.
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Inflation and Interest Rates: When inflation rises or interest rates are lowered, the demand for gold and silver increases as they serve as a hedge against inflation.
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Currency Fluctuations: A decline in the value of the Indian Rupee can make gold and silver more expensive for Indian consumers, pushing up domestic prices.
As of May 7, 2025, the price of gold has increased significantly, with 24-carat gold trading at around ₹99,150 per 10 grams and silver reaching ₹99,000 per kilogram. These price changes are influenced by factors like geopolitical tensions, fluctuations in global markets, and changes in demand for precious metals.
If you are looking to invest in gold or silver, it’s essential to stay updated with the latest prices and trends in the market. Make sure to check the purity of the gold you buy and choose trusted sources. While prices may vary by city and market conditions, the demand for these precious metals remains strong, making them a good investment choice for those looking for safe-haven assets.
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