Precious Metals Hold Steady Amid Global Cues
Precious metal prices in India showed little significant movement on May 19, 2026, reflecting cautious investor sentiment and stable domestic demand. While global markets reacted to geopolitical tensions in West Asia and mixed signals from the US dollar, gold and silver rates across major Indian cities experienced only minor fluctuations.
As of the latest retail market figures, 24-carat gold was trading at approximately ₹15,621 per gram, with 22-carat gold priced around ₹14,319 per gram. Silver, a key industrial metal, maintained its elevated position, hovering near ₹2,90,100 per kilogram in the domestic bullion market.
Daily Gold Prices Across India
Gold prices vary slightly from city to city due to differences in local taxes, transportation costs, and individual jewellers' margins. Below are the approximate retail gold prices per gram for different purities in major metropolitan areas:
- Delhi: 24K gold at ₹15,636, 22K gold at ₹14,334
- Mumbai: 24K gold at ₹15,621, 22K gold at ₹14,319
- Chennai: 24K gold at ₹16,090, 22K gold at ₹14,749
- Kolkata: 24K gold at ₹15,621, 22K gold at ₹14,319
Silver Rates Maintain Elevated Levels
Silver continues to command higher prices compared to its long-term averages, supported by both industrial applications and investment buying. Unlike gold, silver's value is more sensitive to global manufacturing trends, making it prone to greater volatility during periods of economic uncertainty.
- Delhi: Silver at ₹2,901 per 10 gm, ₹2,90,100 per kg
- Mumbai: Silver at ₹2,901 per 10 gm, ₹2,90,100 per kg
- Chennai: Silver at ₹3,001 per 10 gm, ₹3,00,100 per kg
- Kolkata: Silver at ₹2,901 per 10 gm, ₹2,90,100 per kg
Factors Influencing Bullion Market
Several key factors shape gold and silver prices in India, including international bullion rates, the movement of the Indian Rupee against the US Dollar, prevailing import duties, and seasonal jewellery demand. With the wedding and festive season approaching in various regions, a stable retail demand is helping to prevent any sharp corrections in prices.
MCX Futures Close Higher
On the Multi Commodity Exchange (MCX), gold futures for June settled slightly higher at ₹1,58,936 per 10 grams during the last trading session on May 18, 2026. Silver futures for July also saw an increase, rising by 1.81% to close at ₹2,76,805 per kilogram.
Analysts indicate that traders remain watchful for global macroeconomic signals, currency fluctuations, and geopolitical developments, all of which are expected to dictate the future trajectory of precious metal prices.