Gold and silver prices edged higher in the domestic market on 5 November. MCX gold futures traded 1.5% higher at ₹1,46,030 per 10 grams, while silver rose 1.62% to ₹1,91,250 per kg. Many buyers checked retail rates across cities like Delhi and Mumbai as precious metals got a boost after elections.
Gold and silver prices, 5 November: Gold and silver prices edged higher in the domestic market on Thursday, following the recently concluded US midterm elections, which saw a blue wave with Democratic victories.
In the international market, precious metals saw strong gains on Wednesday, while the value of the dollar fell, following the US midterm elections. Spot gold was 3.4% higher at $4,061.30 an ounce, while spot silver jumped 5.1% to trade at $52.29 per ounce. Front-month gold futures added 3.4% to settle at $4,073, while silver futures were up 5.1% at $52.28.
Both gold and silver enjoyed record-breaking rallies in 2025, surging 66% and 135% respectively over the course of the year as investors sought safe haven assets amid geopolitical uncertainty and broader market volatility, as detailed in a report by CNBC.
But the momentum has come undone this year, with rising inflation, surging bond yields and hawkish central banks removing support from the metals. Gold is down more than 6% year-to-date, while silver has tumbled around 26%.
In the domestic futures market, MCX gold futures were trading 1.5% higher at ₹1,46,030 per 10 grams, while MCX silver futures rose by around 1.62% to ₹1,91,250 per kg at around 9:13 am.
Gold is available in different purities in the retail market, with 24-karat gold being the purest form and 22-karat gold commonly used to make jewellery due to its greater durability. Silver 999, also known as 99.9% pure silver, is a high-purity form of silver commonly used for investment purposes, including silver bars and coins.
Gold and silver prices today in India
Here’s a look at the latest gold and silver prices in major Indian cities on 5 November.