Gold prices edged lower on May 7, 2025, after witnessing a strong recovery the day before. This pullback comes amid heightened geopolitical tensions following India’s missile strikes on terror camps in Pakistan and Pakistan-occupied Kashmir (PoK) late Tuesday. However, global cues such as reports of potential US-China trade talks eased investor anxiety, leading to a softening in safe-haven demand.
On the Multi Commodity Exchange (MCX), gold futures dropped by 0.84%, trading at ₹96,669 per 10 grams in early morning trade. Silver also declined, falling by ₹100 to ₹96,800/kg, with MCX silver trading at ₹96,467 per kg, down 0.24%.
This decline contrasts with Tuesday’s sharp surge of over 2.5% in both gold and silver, when gold neared the ₹1 lakh per 10g mark due to global economic uncertainty and fears of a looming US recession.
Expert Insight:
“After Tuesday’s strong rebound in bullion, gold cooled off slightly as traders reacted to news of easing global tensions. International gold prices slipped below $3,380/oz,” said Rahul Kalantri, Vice-President (Commodities), Mehta Equities.
📉 Gold Price Drop: City-Wise Comparison – May 7, 2025
| City | 22K Gold (₹/10g) | 24K Gold (₹/10g) | Change from May 6 |
|---|---|---|---|
| Delhi | ₹90,410 | ₹98,620 | ▼ ₹250 |
| Jaipur | ₹90,410 | ₹98,620 | ▼ ₹250 |
| Ahmedabad | ₹90,310 | ₹98,520 | ▼ ₹260 |
| Patna | ₹90,310 | ₹98,520 | ▼ ₹260 |
| Mumbai | ₹90,750 | ₹99,000 | ▼ ₹240 |
| Hyderabad | ₹90,750 | ₹99,000 | ▼ ₹240 |
| Chennai | ₹90,750 | ₹99,000 | ▼ ₹240 |
| Bengaluru | ₹90,750 | ₹99,000 | ▼ ₹240 |
| Kolkata | ₹90,750 | ₹99,000 | ▼ ₹240 |
🟡 Gold Variants Explained
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24K Gold: Highest purity (99.9%) and mainly used for investment.
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22K Gold: More durable (91.6% purity) and ideal for jewellery.
📊 Precious Metals Summary – May 7, 2025
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Gold (MCX): ₹96,669/10g ⬇️ 0.84%
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Silver (MCX): ₹96,467/kg ⬇️ 0.24%
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Spot Silver: ₹96,800/kg ⬇️ ₹100
Conclusion:
Despite geopolitical uncertainty, gold prices saw a minor correction due to easing global trade fears. However, analysts suggest continued market volatility may keep gold prices fluctuating in the short term.
