On May 1, gold prices saw an increase, with MCX gold June futures rising 1.44% to ₹151,200 per 10 grams, while silver futures surged 2.4% to ₹238,790 per kg. The rise in gold prices is linked to value buying amidst escalating geopolitical tensions involving Iran's oil industry, as US President Donald Trump announced a blockade that could significantly impact Iran's economy. Despite these gains, concerns about inflation and the potential for interest rate hikes have limited further increases. The US Federal Reserve recently kept interest rates steady in a range of 3.5% to 3.75%. Retail customers in India should note that the final prices for gold and silver may be higher due to making charges, taxes, and GST. Prices for 24K gold in major Indian cities on May 1 include ₹151,380 in Mumbai, ₹151,120 in New Delhi, and ₹151,820 in Chennai, while silver prices range from ₹243,920 in New Delhi to ₹245,060 in Chennai.