Precious metal prices saw a marginal decline on August 18, 2026, with both gold and silver futures trending lower. Weakness in international bullion markets exerted pressure on domestic rates, leading to a slight dip in commodity exchange and retail prices across India.
MCX Futures Show Decline
On the Multi Commodity Exchange (MCX), gold futures registered a decrease of 0.38%, settling at ₹1.55 lakh per 10 grams. Similarly, silver futures experienced a sharper drop of approximately 0.88%, trading at ₹2.35 lakh per kilogram at the time of reporting.
Retail Gold Rates Across Key Cities
In the retail market, 24-karat gold was priced at ₹1,55,820 per 10 grams in Delhi. Other major cities like Mumbai, Bengaluru, Kolkata, Hyderabad, and Chennai saw 24-karat gold at ₹1,55,670 per 10 grams.
For 22-karat gold, commonly preferred for jewellery due to its durability, rates stood at ₹1,42,860 per 10 grams in Delhi. Mumbai, Bengaluru, Kolkata, Hyderabad, and Chennai quoted 22-karat gold at ₹1,42,710 per 10 grams.
Silver Prices in Major Indian Cities
Retail silver prices also reflected the broader market trend. In Delhi, Hyderabad, and Chennai, silver was available at ₹2,54,900 per kilogram, or ₹25,490 per 100 grams. Mumbai, Bengaluru, and Kolkata recorded slightly lower rates at ₹2,49,900 per kilogram, or ₹24,990 per 100 grams.
Factors Influencing Precious Metal Markets
Market participants are closely monitoring several global economic indicators for future direction in precious metal prices. Key factors include ongoing global economic data releases, expectations surrounding US interest rate policies, and fluctuations in currency markets. These elements, combined with international bullion market sentiment, continue to shape domestic gold and silver valuations.
Jeweller Rates Remain Stable
Leading jewellery retailers largely maintained stable prices on August 18. Joyalukkas and Malabar Gold & Diamonds both quoted 22K gold at ₹14,270 per gram across various states. Malabar's 24K gold was ₹15,567 per gram, while Tanishq's 22K rate was ₹14,315 per gram, and its 24K rate was estimated at ₹15,616 per gram. Differences among retailers typically stem from brand-specific pricing, procurement costs, and regional market dynamics.