Gold and Silver Prices on May 1: Rates in Mumbai, Delhi, Chennai, Bengaluru, Kolkata, and Hyderabad
New Delhi, May 1:
On Labour Day and Maharashtra Day, gold prices remained strong across major Indian cities, reflecting investor preference for safe-haven assets amid market volatility. While prices slightly cooled due to easing global pressure, the yellow metal continues to show robust year-on-year gains.
Also Read: Oil Faces Worst April Selloff in History Amid Trade War and Stockpile Surge
On the Multi Commodity Exchange (MCX), gold was priced at ₹94,611 per 10 grams, down ₹91 from the previous session. Meanwhile, MCX silver fell sharply by ₹2,301/kg, trading at ₹94,561/kg.
According to the Indian Bullion Association (IBA) at 7:20 am:
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Please note: Due to the May 1 holiday, MCX trading will remain closed during the morning session (9:00 AM–5:00 PM) and resume in the evening session from 5:00 PM to 11:30 PM.
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| City | Gold (Bullion) | MCX Gold | Silver (Bullion) | MCX Silver 999 |
|---|---|---|---|---|
| Mumbai | ₹94,710/10 gm | ₹94,611/10 gm | ₹95,780/kg | ₹94,561/kg |
| Delhi | ₹94,550/10 gm | ₹94,611/10 gm | ₹95,610/kg | ₹94,561/kg |
| Chennai | ₹94,990/10 gm | ₹94,611/10 gm | ₹96,060/kg | ₹94,561/kg |
| Bengaluru | ₹94,780/10 gm | ₹94,611/10 gm | ₹95,850/kg | ₹94,561/kg |
| Kolkata | ₹94,580/10 gm | ₹94,611/10 gm | ₹95,650/kg | ₹94,561/kg |
| Hyderabad | ₹94,860/10 gm | ₹94,611/10 gm | ₹95,930/kg | ₹94,561/kg |
Gold has delivered exceptional returns:
As economic uncertainties continue, gold remains a preferred hedge for portfolio protection.
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