Gold rates on May 5: Check the latest rates in your city today

Gold rate

Gold prices have been declining recently, after a record rally. Gold's June contracts on the Multi Commodity Exchange of India (MCX) opened at Rs 93,249 per 10 gram on May 5.

Let's check the latest prices of 10 grams of 22 carat and 24 carat gold in major cities of the country on May 5:

(as per data on Good Returns)

Macquarie Capital's Viktor Shvets recently said that gold cannot be considered an investment, although it is the ultimate protection and insurance during challenging times.

In an exclusive conversation with Moneycontrol, Shvets noted that for investors looking for protection in a disruptive global environment, "gold is the answer".

"If you believe that we might go from a cold wars to hot wars, if you believe that we will be much more aggressively deglobalizing, if you believe the capital flows will be fracturing on a global basis, if you believe that climate change will be far more disruptive than what people assume today, if you believe in pandemics, if you believe in any catastrophic outcomes that potentially could happen globally, gold is your answer… (but) gold is not an investment," he said.