On May 5, gold prices in India's retail market showed a modest increase, with 24-karat gold priced at ₹149,530 per 10 grams in Mumbai, while 22-karat gold was at ₹137,069. In contrast, silver prices fell to ₹242,940 per kg. The rise in gold prices is attributed to ongoing geopolitical tensions, particularly the intensifying conflict between the United States and Iran, which has raised concerns over oil and commodity prices globally. The US-Iran conflict has escalated following missile attacks from Iran on the United Arab Emirates, raising fears of further disruptions in the Strait of Hormuz, a crucial global oil transit route. Amid these tensions, gold has seen increased demand as a safe-haven asset, contributing to a significant rise of over 75% in prices last year. The impact of these geopolitical issues is also reflected in the performance of US stock markets, which faced declines due to concerns over the potential escalation of conflict in the Middle East.