On May 6, 2026, gold prices experienced a notable increase across major jewellery retailers in India, including Tanishq, Joyalukkas, and Kalyan Jewellers. The price for 22K gold at Tanishq is now ₹13,915 per gram, up from ₹13,715 the previous day. Joyalukkas and Kalyan Jewellers have set their prices for 22K gold at ₹13,870 per gram, reflecting similar increases. This surge in gold prices is largely attributed to escalating tensions in the Middle East, particularly following recent military confrontations that have raised energy prices and heightened inflation concerns. Prithviraj Kothari, managing director of RiddiSiddhi Bullions Ltd. and president of the India Bullion and Jewellers Association (IBJA), noted that these geopolitical developments have rattled market confidence. The IBJA's indicative rates also showed fine gold (999) priced at ₹15,064 per gram, marking a ₹300 increase from the previous day. Additionally, silver prices rose to ₹246,333 per kg, reflecting a significant increase of ₹5,868.