Precious metal prices in India remained largely stable on May 28, 2026, with only minor fluctuations observed across major cities. Despite ongoing geopolitical tensions in West Asia and mixed signals from the US dollar influencing global markets, domestic demand for gold and silver appeared steady, contributing to cautious investor sentiment.
Current Gold Rates Across Key Indian Cities
Retail prices for gold on May 28, 2026, saw 24-carat purity trading around an average of ₹15,828 per gram. For 22-carat gold, the price hovered near ₹14,509 per gram nationally. Local taxes, transportation costs, and jeweler margins cause slight variations in rates between cities.
- Delhi: 24K Gold at ₹15,843 per gram; 22K Gold at ₹14,524 per gram.
- Mumbai: 24K Gold at ₹15,828 per gram; 22K Gold at ₹14,509 per gram.
- Chennai: 24K Gold at ₹15,981 per gram; 22K Gold at ₹14,649 per gram.
- Kolkata: 24K Gold at ₹15,828 per gram; 22K Gold at ₹14,509 per gram.
Silver Prices Remain Elevated
Silver prices continued to trade at elevated levels compared to long-term averages, supported by consistent industrial demand and investment buying. The metal, however, remains more sensitive to global manufacturing trends and can exhibit higher volatility during uncertain economic periods.
- Delhi: Silver at ₹2,849 per 10 grams (₹2,84,900 per kilogram).
- Mumbai: Silver at ₹2,849 per 10 grams (₹2,84,900 per kilogram).
- Chennai: Silver at ₹2,899 per 10 grams (₹2,89,900 per kilogram).
- Kolkata: Silver at ₹2,849 per 10 grams (₹2,84,900 per kilogram).
Market Factors and Futures Trading
On the Multi Commodity Exchange (MCX), gold futures for June settled slightly lower at ₹1,57,859 per 10 grams during the last trading session on May 27, 2026, marking a 1.54% decline. Silver futures for July faced heavier selling, falling nearly 1.65% to ₹2,72,830 per kilogram.
Key factors influencing gold and silver prices in India include international bullion rates, the rupee-dollar exchange rate, import duties, and seasonal demand for jewelry. With the wedding and festive season approaching in certain regions, stable retail demand is helping prevent sharp price corrections. Analysts suggest traders are closely monitoring global macroeconomic cues, currency movements, and geopolitical developments to gauge future trends in precious metals.