Gold-Silver Rates: Significant fluctuations were recorded in gold and silver prices over the past week. Volatility in gold and silver rates was observed not only on the Multi-Commodity Exchange (MCX) but also in the domestic market. According to the IBJA, gold and silver prices declined. On the MCX, silver is currently trading at a discount of ₹2.06 lakh from its all-time high.
In futures trading, the lifetime high for 24-carat gold stood at ₹2,02,984 per 10 grams; currently, gold is trading at a discount of ₹51,621 per 10 grams from this peak. Meanwhile, it is anticipated that significant volatility in gold and silver prices could be witnessed during the new trading session commencing today, May 4, 2026. According to analysts, investors will be closely monitoring the US-Iran conflict, global economic data, and domestic political signals.
Gold & Silver Weekly Rate Update – Key Highlights (May 4, 2026)
- Date: May 4, 2026 (Monday — New Trading Session Begins)
- Weekly Trend: Significant fluctuations recorded in gold & silver prices
- Market Outlook: High volatility expected in new trading session today
- Investors Watching: US-Iran conflict, global economic data & domestic political signals
- Gold became cheaper by ₹1,216 per 10 grams over the past week
- Silver rose by ₹941 per kg during the same period
- Gold is still ₹51,621 below its all-time high
- Silver is ₹2,06,328 below its all-time high
Factors Impacting Gold & Silver Prices This Week
- US-Iran Conflict & related geopolitical developments
- Peace Negotiation progress & outcomes
- PMI Data & other key economic indicators
- US Labor Market & Non-Farm Payroll data
- Crude Oil Price fluctuations
- ETF Investor buying activity
- State Election results & domestic political signals
Gold Price Weekly Update
| Details | Rate |
|---|---|
| 24K Gold (April 24 closing) | ₹1,51,479 per 10 grams |
| 24K Gold (Friday closing) | ₹1,50,263 per 10 grams |
| Weekly Change | -₹1,216 per 10 grams |
| All-Time High (Futures) | ₹2,02,984 per 10 grams |
| Discount from ATH | ₹51,621 per 10 grams |
Factors That Will Impact Gold and Silver Prices:
1. The US-Iran conflict and related developments
2. Progress in peace negotiations
3. Economic indicators, such as PMI data
4. US labour market and Non-Farm Payroll data
5. Fluctuations in crude oil prices
6. Buying activity by ETF investors
7. Results of state elections
This week, investors should be prepared for price fluctuations within a limited range rather than expecting major directional trends. The market will currently depend entirely on economic data, global geopolitical tensions, and currency movements. Pressure on gold and silver prices was also evident in the international market.
This was primarily due to investors gradually shifting their focus toward riskier assets, such as equities. Furthermore, concerns regarding central banks adopting a hawkish stance on inflation—driven by elevated crude oil prices—are somewhat dimming the lustre of bullion.
Gold Rates:
According to the website of the Indian Bullion Jewellers Association (IBJA.com), the rate for 24-carat gold closed at ₹1,51,479 per 10 grams on the evening of April 24; by last Friday, the price had settled at ₹1,50,263. This means that in the domestic market, gold has become cheaper by ₹1,216 per 10 grams.
Silver Prices
On the MCX, an increase was observed in the price of silver contracts expiring on July 3. The price stood at ₹250,058 per kilogram on April 24, closing at ₹251,000 last Friday. The price of silver has risen by ₹941 per kilogram. However, compared to its all-time high of ₹457,328, silver is still trading at a discount of ₹206,328.
