Indian gold and silver prices experienced a modest uptick on May 14, 2026, reflecting cautious investor sentiment amid a sharp increase in import duty and ongoing geopolitical tensions. The benchmark 24-carat gold hovered around ₹16,233 per gram, while silver reached a significant milestone of ₹3,00,000 per kilogram.
Precious metals, traditionally viewed as safe-haven assets, have not shown a dramatic surge, indicating a stable domestic demand despite global uncertainties. The recent 15% hike in import duty, coupled with geopolitical developments in West Asia and mixed signals from the US dollar, are key factors influencing the current market dynamics.
Current Retail Bullion Rates (May 14, 2026)
As per the latest market data, 24-carat gold is trading at approximately ₹16,233 per gram, while 22-carat gold is priced around ₹14,880 per gram. Silver has solidified its position at the ₹3,00,000 per kilogram mark. It is important to note that prices can vary slightly across different cities due to local taxes, transportation costs, and individual jewellers' margins.
Gold Prices Across Major Indian Cities (Per Gram)
- Delhi: 24K at ₹16,216 | 22K at ₹14,866
- Mumbai: 24K at ₹16,233 | 22K at ₹14,880
- Chennai: 24K at ₹16,368 | 22K at ₹15,001
- Kolkata: 24K at ₹16,233 | 22K at ₹14,880
Silver Prices Across Major Indian Cities
Silver continues to trade at elevated levels, supported by both industrial demand and investment buying. Unlike gold, silver's price is more susceptible to global manufacturing trends, which can lead to increased volatility during uncertain economic periods.
- Delhi: ₹3,000 per 10 gm | ₹3,00,000 per kg
- Mumbai: ₹3,000 per 10 gm | ₹3,00,000 per kg
- Chennai: ₹3,201 per 10 gm | ₹3,20,100 per kg
- Kolkata: ₹3,000 per 10 gm | ₹3,00,000 per kg
Factors Influencing Precious Metal Prices
Several factors primarily influence gold prices in India, including international bullion rates, the movement of the rupee against the US dollar, import duties, and seasonal jewellery demand. With the wedding and festive season approaching in various regions, a stable retail demand is helping to prevent sharp corrections in prices.
MCX Closing Prices (May 14, 2026)
On the Multi Commodity Exchange (MCX), gold futures saw an increase, settling at ₹1,63,360 per 10 grams. Silver also experienced a significant rise, with MCX prices climbing nearly 8% to ₹2,87,720 per kilogram, largely due to the increased import duty. Analysts suggest that traders remain cautious, awaiting further global macroeconomic cues, currency fluctuations, and geopolitical developments to determine future trends in precious metals.