Gold and Silver Price Today in India, 16 May 2026: Silver Crashes 10% as Trump-Xi Summit Ends Without a Deal, Gold Falls to ₹1.59 Lakh
The gold price today in India is ₹15,910 per gram for 24-carat gold, down sharply from ₹16,265 yesterday. The silver price today in India has crashed to ₹2,71,720 per kg, a fall of over ₹20,000 in just 24 hours.
Spot gold fell 2% to around $4,552 an ounce overnight, while spot silver was down 6.5% to $78.08 per ounce. Front-month gold and silver futures fell 2.6% and 7.7%, respectively. By Saturday afternoon India time, COMEX silver had crashed a further 10.59% to $76.30, and COMEX gold was down 3.02% to $4,543.60. The trigger is a combination of five powerful forces, all hitting at once.
Gold and Silver Price Today in India - Key Highlights
| Metric | Gold 24K | Silver 999 |
|---|---|---|
| Spot Price (per 10g / per kg) | ₹1,59,100 | ₹2,71,720 |
| Change vs Yesterday | 🔴 ▼ ₹3,550 | 🔴 ▼ ₹20,040 |
| % Change | 🔴 ▼ −2.23% | 🔴 ▼ −6.87% |
| Retail per gram | ₹15,910 (24K) | ₹272 |
| COMEX Gold | $4,543.60/oz | — |
| COMEX Gold Change | 🔴 ▼ −$141.70 | 🔴 ▼ −3.02% |
| COMEX Silver | $76.30/oz | — |
| COMEX Silver Change | 🔴 ▼ −$9.03 | 🔴 ▼ −10.59% |
| Gold-Silver Ratio | ~59.5:1 | — |
| Crude Oil (Brent) | ~$107–110/barrel | — |
| USD/INR | ₹95.93 | — |
| Last Updated | 16 May 2026, 13:45 IST | 16 May 2026, 13:45 IST |
Gold Price Today in India (24K, 22K, per gram and 10g)
The gold rate today in India is ₹15,910 per gram for 24-carat gold, ₹14,584 per gram for 22-carat gold, and ₹11,933 per gram for 18-carat gold. On a per-10g basis, 24K gold stands at ₹1,59,100. This is the lowest level for 24K gold in over a week, as global selling pressure flows through into domestic prices.
Despite today's fall, gold has held up far better than silver. Year-on-year, gold is still up 71.33% from ₹92,860/10g in May 2025. One month ago, gold was at ₹1,53,510, so even after today's correction, it remains up 3.64% over the month.
| Purity | Per Gram (₹) | Per 10g (₹) | Per 100g (₹) | Change vs Yesterday |
|---|---|---|---|---|
| 24 Karat (999) | 15,910 | 1,59,100 | 15,91,000 | 🔴 ▼ −2.23% |
| 22 Karat | 14,584 | 1,45,842 | 14,58,417 | 🔴 ▼ |
| 20 Karat | 13,258 | 1,32,583 | 13,25,833 | 🔴 ▼ |
| 18 Karat | 11,933 | 1,19,325 | 11,93,250 | 🔴 ▼ |
| 14 Karat | 9,281 | 92,808 | 9,28,083 | 🔴 ▼ |
Silver Price Today in India (per gram and per kg)
The silver price today in India is ₹272 per gram and ₹2,71,720 per kg for 999 fine silver. This is a fall of ₹20,040 or 6.87% from yesterday's close of ₹2,91,760/kg.
Silver has now given back almost all of the gains made during the historic import duty-driven rally of 13-14 May. From the peak of ₹3,10,000/kg on 14 May, silver has crashed over ₹38,000 in less than 48 hours.
Despite this, silver is still up 184.61% year-on-year from ₹95,470/kg in May 2025. It is also up 3.57% from one week ago at ₹2,62,350/kg and up 8.97% from one month ago.
| Unit | Silver 999 Fine (₹) | Silver 925 Sterling (₹) | Silver 900 Coin (₹) | Change vs Yesterday |
|---|---|---|---|---|
| 1 gram | 272 | 251 | 245 | 🔴 ▼ −20 |
| 10 grams | 2,717 | 2,513 | 2,445 | 🔴 ▼ −201 |
| 100 grams | 27,172 | 25,134 | 24,455 | 🔴 ▼ −2,004 |
| 1 kg (999 fine) | 2,71,720 | 2,51,341 | 2,44,548 | 🔴 ▼ −20,040 |
| 1 ounce | 7,703 | 7,125 | 6,933 | 🔴 ▼ |
| 1 tola | 3,169 | 2,932 | 2,852 | 🔴 ▼ |
City-Wise Gold and Silver Rates Today (16 May 2026)
Today's rates are based on Bullions.co.in spot data (13:45 IST). MCX is closed on Saturday, so there are no futures prices. Retail jewellery shops may have varying prices depending on when they last updated their boards after this week's extreme volatility. Always confirm with your local jeweller before buying.
| City | Silver 999 (₹/kg) | Silver (₹/g) | Gold 24K (₹/10g) | Gold 22K (₹/10g) | vs Yesterday |
|---|---|---|---|---|---|
| Delhi | 2,71,720 | 272 | 1,59,100 | 1,45,842 | 🔴 ▼ Both down |
| Mumbai | 2,71,720 | 272 | 1,58,950 | 1,45,704 | 🔴 ▼ Both down |
| Chennai | 2,71,720 | 272 | 1,60,650 | 1,47,262 | 🔴 ▼ Both down |
| Hyderabad | 2,71,720 | 272 | 1,58,950 | 1,45,704 | 🔴 ▼ Both down |
| Bengaluru | 2,71,720 | 272 | 1,58,950 | 1,45,704 | 🔴 ▼ Both down |
| Kolkata | 2,71,720 | 272 | 1,58,950 | 1,45,704 | 🔴 ▼ Both down |
| Pune | 2,71,720 | 272 | 1,58,950 | 1,45,704 | 🔴 ▼ Both down |
| Ahmedabad | 2,71,720 | 272 | 1,59,000 | 1,45,750 | 🔴 ▼ Both down |
| Surat | 2,71,720 | 272 | 1,59,000 | 1,45,750 | 🔴 ▼ Both down |
| Jaipur | 2,71,720 | 272 | 1,59,100 | 1,45,842 | 🔴 ▼ Both down |
Note: Chennai carries its usual small premium over other metros. Saturday rates reflect Friday's COMEX closing prices and Saturday morning Bullions.co.in updates.
Muskaan Kapoor
Global Gold and Silver Prices - COMEX and Spot (16 May 2026)
| Commodity | Exchange | Price (USD) | Change | % Change | High | Low |
|---|---|---|---|---|---|---|
| Gold Futures | COMEX | $4,543.60/oz | 🔴 ▼ −$141.70 | 🔴 −3.02% | $4,670.10 | $4,513.80 |
| Silver Futures | COMEX | $76.30/oz | 🔴 ▼ −$9.03 | 🔴 −10.59% | $84.38 | $76.09 |
| Gold-Silver Ratio | — | ~59.5:1 | 🟢 ▲ Rising | — | — | — |
The gold-silver ratio has jumped back to ~59.5:1 from ~53:1 seen earlier this week. When the ratio rises, it means gold is losing less value than silver. Silver's 10.59% COMEX crash versus gold's 3.02% fall perfectly illustrates why silver is the more volatile of the two metals.
What Is Driving Gold and Silver Prices Down Today?
Five things came together this week to trigger one of the sharpest precious metals sell-offs of 2026.
1. The Trump-Xi summit ended without a deal
Five things drove gold and silver lower this week: a stronger dollar, spiking Treasury yields, the hottest US producer inflation in over three years, a new Federal Reserve chair, and a Trump-Xi summit with no deal.
Markets had built a 7% premium into silver over four days before the Trump-Xi meeting in Beijing, betting the summit would stabilise US-China trade. Roughly 60% of silver demand is industrial, for solar panels, EVs, electronics, and semiconductors, most of it flowing through US-China supply chains. When the summit produced no meaningful trade deal, those bets unwound fast. Silver built a 7% premium over four days, then gave it all back in one session.
2. Hot US inflation, the worst in three years
A 6% Producer Price Index print, the hottest in nearly four years, landed on a market that had been quietly preparing for the wrong policy regime. High inflation means the US Federal Reserve cannot cut interest rates. Gold and silver earn no interest, so when rates stay high, investors prefer bonds and cash over precious metals. This is the "higher for longer" problem that has been weighing on bullion all year.
3. US Treasury yields hit yearly highs
The yield on the US 10-year Treasury was almost 9 basis points higher at 4.544%, its highest level in almost a year. Rising yields make bonds more attractive compared to gold and silver. Money moved out of precious metals and into bonds, amplifying the sell-off.
4. A stronger US dollar
The US dollar index rose by around 0.4%, as the greenback got a boost from a resurgence in inflation concerns. A stronger dollar makes gold and silver costlier for buyers in other currencies, reducing global demand. With the rupee already at ₹95.93, Indian buyers were feeling this double pressure.
5. New Fed chair Kevin Warsh confirmed
Kevin Warsh was confirmed as Federal Reserve chair, succeeding Jerome Powell. Warsh is seen as more hawkish than Powell, meaning markets expect him to keep interest rates higher for longer. This reduces the appeal of non-yielding assets like gold and silver over the medium term.
The Week That Was - Gold and Silver Trend (10-16 May 2026)
This has been one of the most dramatic weeks for gold and silver in India in years. Here is a summary.
| Date | Silver 999 (₹/kg) | Gold 24K (₹/10g) | COMEX Silver ($) | Key Event |
|---|---|---|---|---|
| 16 May 2026 | 2,71,720 | 1,59,100 | $76.30 | 🔴 ▼ Trump-Xi no deal crash |
| 15 May 2026 | 2,91,760 | 1,62,650 | $84.04 | 🔴 ▼ Pre-crash, gold holds |
| 14 May 2026 | ~3,00,000–3,10,000 | 1,62,010 | ~$87–88 | 🔴 ▼ Post-duty correction starts |
| 13 May 2026 | 2,96,910 | 1,63,000 | $87.18 | 🟢 ▲ Import duty 6% to 15% |
| 12 May 2026 | 2,79,570 | 1,54,010 | $84.04 | 🔴 ▼ PM Modi gold appeal |
| 11 May 2026 | 2,62,370 | 1,53,150 | $85.36 | 🟢 ▲ Trump-Xi summit builds |
| 9 May 2026 (1 wk ago) | 2,62,350 | 1,53,140 | — | Baseline |
Silver is up 3.57% from one week ago and up 8.97% from one month ago. Gold is up 3.89% from one week ago and up 3.64% from one month ago. Year-on-year, silver has surged 184.61% and gold has gained 71.33%.
What Does This Mean If You Were Thinking of Buying Gold or Silver?
This is one of the most common questions right now. Here is a plain-English breakdown.
- For gold buyers: Gold is down about 3.5% from its recent peak of ₹1,63,000 last week. The 15% import duty is still in place, so prices are structurally higher than before 13 May. If you were planning to buy gold jewellery, this week's correction has brought prices back to more manageable levels. However, global uncertainty remains high, so further swings are possible.
- For silver buyers or investors: Silver has crashed over ₹38,000 from its ₹3,10,000 peak in less than 48 hours. The structural case for silver remains intact, with the World Silver Survey 2026 confirming a sixth consecutive annual deficit. The supply constraints are independent of US-China diplomacy. However, short-term traders who bought at the top on 13-14 May are sitting on significant losses right now.
- The key to watch next week: The June 16-17 US Federal Reserve meeting and any new developments in US-Iran ceasefire talks. The probability of a Fed rate cut at the June meeting has collapsed from 48% to under 8% following the hot April inflation print. If that changes, metals could bounce sharply.
Gold and Silver Price Outlook — What to Watch Next Week
| Factor | Direction | Impact on Gold and Silver |
|---|---|---|
| Trump-Xi no deal | 🔴 Risk-off | 🔴 Industrial silver demand dampened |
| US PPI at 6% — highest in 4 years | 🔴 Hawkish | 🔴 Rate cut hopes fading |
| Kevin Warsh as new Fed chair | 🔴 Hawkish | 🔴 Non-yielding metals face pressure |
| US Treasury yields at yearly high | 🔴 Rising | 🔴 Bonds more attractive than metals |
| 15% import duty still in place | 🔴 Structural | 🟢 Domestic prices stay elevated |
| Silver's 6th consecutive annual deficit | 🟢 Structural | 🟢 Long-term floor under silver prices |
| People's Bank of China gold buying | 🟢 Demand | 🟢 Institutional support for gold |
| US-Iran situation still unresolved | 🔴 Unclear | 🟢 Some safe-haven bid remains |
Near-term support for gold in India is at ₹1,55,000/10g (spot). For silver, ₹2,60,000–₹2,65,000/kg is the next level to watch. A break below ₹2,60,000 could trigger further selling.
This is for informational purposes only. Please consult a financial adviser before making investment decisions.
FAQs
What is the gold price today in India per gram?
The gold price today in India is ₹15,910 per gram for 24-carat gold, ₹14,584 per gram for 22-carat gold, and ₹11,933 per gram for 18-carat gold as of 16 May 2026, 13:45 IST (Bullions.co.in). MCX is closed today as it is a Saturday.
What is the silver price today in India per kg?
The silver price today in India is ₹2,71,720 per kg for 999 fine silver and ₹272 per gram as of 16 May 2026 (Bullions.co.in, 13:45 IST). Silver has fallen ₹20,040 or 6.87% from yesterday's close of ₹2,91,760/kg.
Why are gold and silver prices falling today?
Five things drove gold and silver lower, a stronger dollar, spiking Treasury yields, the hottest US producer inflation in over three years, a new Federal Reserve chair, and a Trump-Xi summit with no deal. All five hit markets at the same time on 15-16 May, triggering one of the sharpest sell-offs in weeks.
Why did silver fall so much more than gold?
Roughly 60% of silver demand is industrial, mostly flowing through US-China supply chains. Markets had priced in a trade breakthrough from the Trump-Xi summit. When no deal came, those bets unwound fast. Gold is primarily a safe-haven asset, so it held up better. Silver runs on two engines — industrial demand and monetary demand, and the industrial engine stalled this week.
Is the import duty hike on gold and silver still in force?
Yes. The 15% import duty announced on 13 May 2026 is still in effect. It combines a 10% basic customs duty with a 5% Agriculture Infrastructure and Development Cess. This means domestic gold and silver prices in India will remain structurally higher than they were before 13 May, even as global prices correct.
