Gold Rates & Silver Rates Today (07/05/2026) Live Updates: MCX Gold Trade Higher, Silver Price Outperforms

Gold rates and silver rates in India traded higher on May 7, 2026, extending their rally for second consecutive day. MCX gold is racing towards Rs 1.53 lakh mark after hitting an intraday high of Rs 1,52,887 per 10 grams. Meanwhile, MCX silver has crossed Rs 2.57 lakh mark in the opening bell before correcting. Still, silver has outperformed gold in the early sessions of Thursday.

This is due to strong bull rally in international market. Spot gold zoomed to trade above $4,700 per ounce after 3% rally in the previous session. Meanwhile, spot silver gains to trade near $78 per ounce. On the other hand, crude oil prices also traded higher by 1% with Brent Crude above $102 per barrel and US WTI Crude near $96 per barrel.

Safe haven assets are witnessing buying momentum on hopes of an agreement between US and Iran which could end the over 2-month long tensions in Middle East.

Reports indicated that the US had sent a one-page memorandum of understanding through Pakistani mediators aimed at formally ending the conflict and potentially allowing the gradual reopening of the Strait of Hormuz. Tehran is expected to respond in the coming days after confirming it was reviewing a US peace proposal, while more comprehensive negotiations over Iran's nuclear program are reportedly expected later. Oil prices tumbled, easing concerns over inflationary pressures and reducing expectations that central banks would need to maintain restrictive policies for longer. Still, Federal Reserve Bank of Chicago President Austan Goolsbee warned that inflation has not continued to cool toward the US central bank's 2% target and has instead accelerated since the outbreak of the war, as per Trading Economics.

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May 07, 2026, 10:35 am IST

Silver Rates Today Live Updates: MCX Silver To Hit Rs 2.60 Lakh Soon?

Silver opened with a gap up and is currently trading above the ₹2,55,000 level. On the upside, ₹2,58,000–₹2,60,000 remains the immediate resistance band; a sustained move above this zone could extend the recovery toward ₹2,63,000–₹2,65,000 levels. On the downside, a break below ₹2,54,000 may trigger further weakness toward ₹2,52,000–₹2,50,000. Overall, the near-term outlook remains cautiously positive, with direction dependent on the ability to achieve a decisive breakout above resistance: Ponmudi R, CEO of Enrich Money.

May 07, 2026, 10:34 am IST

Gold Rates Today Live Updates: More Rally Likely In MCX Gold If It Crosses Rs 1.53 Lakh Mark

MCX Gold opened with a gap up and is currently trading above ₹1,52,000 level, with price action showing improving strength and emerging buying interest. A sustained move above ₹1,53,000 could reinforce bullish momentum and extend the rally toward the ₹1,55,000–₹1,56,000 zone. On the downside, immediate support is placed at ₹1,52,000–₹1,51,600; as long as prices hold above this range, dips are likely to attract buying interest, with ₹1,50,000-₹1,49,000 acting as a stronger support base. Overall, the near-term bias remains positive, supported by improving sentiment and continued safe-haven demand amid evolving geopolitical developments: Ponmudi R, CEO of Enrich Money.

May 07, 2026, 10:32 am IST

Silver Rates Today Live Updates: Spot Silver Could Hit , But When & How?

COMEX Silver is trading near the – level, maintaining a positive undertone. On the upside, a sustained move above could strengthen momentum and push prices toward the – zone, where some supply pressure may emerge. On the downside, immediate support is placed near ; a break below this level could lead to a corrective move toward the – range. Overall, the broader trend reflects improving momentum with an upward bias, supported by safe-haven interest and strong industrial metals demand, while macro uncertainty continues to influence sentiment: Ponmudi R, CEO of Enrich Money.

May 07, 2026, 10:31 am IST

Gold Rates Today Live Updates: Does Comex Gold Has Potential To Hit ,950 This Month?

COMEX Gold is trading near the ,720–,750 resistance band, with buying interest gradually strengthening and supporting ongoing recovery attempts. A sustained move above ,750 could reinforce bullish momentum and extend gains toward ,820–,860, with further upside potential toward ,920. On the downside, immediate support is placed at ,670–,640; as long as prices hold above this zone, the broader upward structure is likely to remain intact. Overall, the structure reflects improving strength, with persistent safe-haven demand continuing to provide a firm underlying cushion and support an upward bias in prices: Ponmudi R, CEO of Enrich Money.

May 07, 2026, 10:21 am IST

Silver Rates Today Live Updates: MCX Silver Rally By 1%

MCX silver outperformed gold on May 7, with nearly 1% upside or Rs 2,301 surge to trade around Rs 2,55,566 per 1Kg. Silver touched an intraday high of Rs 2,57,055 per 1Kg in the early trade.

May 07, 2026, 10:21 am IST

Gold Rates Today Live Updates: MCX Gold Trades Higher

MCX gold price traded higher by Rs 527 or 0.35% to trade at Rs 1,52,659 per 10 grams, which is near its intraday high of Rs 1,52,887 per 10 grams. The reason behind upside is hopes of a peace agreement between US and Iran which has fueled rally in global bullion market.