Due to Iran-America tension and strengthening of dollar, the prices of gold and silver continue to fluctuate in the Indian bullion market. As soon as the market opens on May 4, 2026, a slight decline has been seen in the prices of gold, although the prices of silver are stable. On Monday, in the Indian bullion market, the price of 10 grams of 24 carat gold was recorded at Rs 1,51,130 and the price of 10 grams of 22 carat gold was recorded at Rs 1,38,500. Also, silver is trading at the level of Rs 2,65,000 per kg.
Gold has weakened slightly in the international market due to the strengthening of the dollar index. The rupee has fallen to 95.33 against the dollar. This is affecting the prices of gold in the domestic market. Oil prices are swinging between $108 to $115 per barrel. Earlier on April 30, due to increasing tension between America and Iran, Brent crude had crossed $ 120 per barrel, which is a four-year high. If the tension between the two countries increases further, there may be a rise in the prices of petrol and diesel, which will directly increase inflation. Although there is news of Iran sending a new proposal to America, investors are keeping a close eye on the peace talks.
These days, wedding season is going on in India due to which the purchase of gold and silver is also increasing, however, due to the prices being around Rs 1.50 lakh, people are giving more emphasis on light weight jewelery and exchange of old gold instead of heavy jewellery. Today, amid the results of assembly elections in five states of the country, there has been a rise in the stock market.
If you are also thinking of buying gold, then definitely check the BIS Hallmark and HUID code. Keep in mind that the rates issued by India Bullion and Jewelers Association (IBJA) do not include GST and making charges, hence the final price may differ in different cities and showrooms. This article has been written for information purposes only, do not consider it as investment advice. Investing in the market is subject to risks. Be sure to consult your financial advisor or market expert before making any type of investment.
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