Gold and silver prices moved sharply higher on May 6, 2026, as global cues turned supportive for precious metals. In the domestic market, gold rose about 1.36% to hover near ₹1.52 lakh per 10 grams, while silver surged 2.54% to around ₹91 per gram, reflecting strong buying interest across the bullion segment.
The main trigger behind the rally was the weakness in the US dollar. A softer dollar typically makes gold and silver cheaper for international buyers, increasing demand and pushing prices higher. At the same time, crude oil prices eased, which helped reduce inflation concerns and improved overall sentiment in commodity markets.
Gold, often seen as a safe-haven asset, benefited from continued global uncertainty. Even as some geopolitical tensions showed signs of easing, investors preferred to stay cautious and maintain exposure to bullion. This steady demand kept prices firm and close to record highs.
Silver, meanwhile, outperformed gold in percentage terms. Apart from safe-haven buying, silver also gained from expectations of stable industrial demand. This dual support, investment and industrial use, helped the metal see a sharper rise compared to gold.
Market participants are also keeping an eye on global developments, including currency movements and geopolitical updates such as discussions involving the US and Iran. These factors continue to influence investor sentiment and drive short-term price movements in precious metals.