Gold & Silver Prices Drop in India (May 6):Gold prices in India continued their downward trend because of global market declines as spot gold prices reached their lowest point in one month. Along with this slver prices experienced significant decline.
The global gold market experienced a severe decline as COMEX gold prices dropped more than 2% during one trading day to reach their lowest point since March 2026. The spot gold price has remained between $4,500 and $5,200 per ounce after reaching its peak of $5,200 during 2026.
In Indian markets, gold prices have decreased to levels below ₹1.5 lakh per 10 grams which demonstrates that the market is still experiencing a decline from its previous record prices.
Gold Price in India Today (May 6, 2026)
According to latest bullion data:
- 24K Gold: ₹14,918 per gram (₹1,49,180 per 10g)
- 22K Gold: ₹13,675 per gram (₹1,36,750 per 10g)
- 18K Gold: ₹11,189 per gram
Silver Price (India)
- Silver: ~₹255 per gram
- ₹2.40 – ₹2.55 lakh per kg (approx rang
Silver Prices Also Under Pressure
Silver has mirrored gold’s trend but with sharper volatility. Prices dropped nearly 3.8% in a single session, making it one of the biggest recent declines.
City-wise Gold Rates (India)
- 24K Gold: ~₹15,200 – ₹15,273 per gram
- 22K Gold: ~₹13,800 – ₹13,835 per gram
Bengaluru
- 24K Gold: ₹14,918 per gram
- 22K Gold: ₹13,675 per gram
Chennai / Hyderabad
- 24K Gold: ~₹15,000+ per gram
- 22K Gold: ~₹13,900+ per gram
MCX Gold & Silver Prices
On the Multi Commodity Exchange (MCX):
- MCX Gold (June futures): ~₹1,49,500 – ₹1,49,845 per 10g
- MCX Silver: ~₹2,38,000 – ₹2,46,000 per kg
Gold Rate Today May 5: Check Latest 18K, 22K and 24K Prices
Global Gold & Silver Prices
- Spot Gold (XAU/USD): ~$4,550 – $4,620 per ounce
- COMEX Gold (latest close): $4,519 per ounce (month low)
- Silver (global): ~$73 per ounce
Gold & Silver Prices Drop in India (May 6): Will Gold Fall Further?
The experts forecast a market trend that will stay within specific limits while showing downward movement for the upcoming period. Gold is expected to trade between $4,450 and $4,800 per ounce which shows limited upward potential at this time .
Analysts observe that geopolitical uncertainty especially the tensions between the United States and Iran will continue to affect market prices at unpredictable times .
Experts consider the recent “crash” to be an ordinary market correction instead of an actual market collapse. Gold prices now stand above last year’s levels while people still consider it their main safe-haven investment during times of market uncertainty.
