Gold and Silver Price Today in India, 17 May 2026: Prices Hold Steady After the Most Dramatic Week of 2026 - What Happens Next?
The gold price today in India is ₹15,911 per gram for 24-carat gold. The silver price today in India is ₹2,71,740 per kg. Both metals are flat today after one of the most turbulent weeks in Indian bullion market history.
Gold prices in India remained unchanged on Sunday, 17 May 2026, after witnessing a sharp correction over the previous two sessions. The yellow metal has fallen by nearly ₹54,000 per 100 grams of 24K gold over the last two days, reflecting a broad-based pullback in safe-haven assets as investors reassessed geopolitical and macroeconomic risks.
Both MCX and COMEX are closed today. This is a good moment to take stock of where prices stand and what is coming next week.
Gold and Silver Price Today in India - Key Highlights
| Metric | Gold 24K | Silver 999 |
|---|---|---|
| Spot Price (per 10g / per kg) | ₹1,59,110 | ₹2,71,740 |
| Change vs Yesterday | 🟢 ▲ +₹10 | 🟢 ▲ +₹20 |
| % Change (vs yesterday) | 🟢 ▲ +0.01% | 🟢 ▲ +0.01% |
| Retail per gram | ₹15,911 (24K) | ₹272 |
| COMEX Gold (last close) | $4,543.60/oz | — |
| COMEX Silver (last close) | $76.30/oz | — |
| Gold-Silver Ratio | ~59.5:1 | — |
| Crude Oil (Brent) | ~$109/barrel | — |
| USD/INR | ~₹96 | — |
| Last Updated | 17 May 2026, 14:10 IST | 17 May 2026, 14:10 IST |
Gold Price Today in India (24K, 22K, per gram and 10g)
Today's gold price in India stands at ₹15,693 per gram for 24-carat gold, ₹14,385 per gram for 22-carat gold, and ₹11,770 per gram for 18-carat gold as per Goodreturns. Bullions.co.in's live feed shows ₹15,911 per gram for 24K, slightly higher due to different sourcing and timing of the rate update.
Both sources confirm the same story: gold prices are flat today. The metal is taking a breather after falling nearly ₹4,000 per 10 grams in just two sessions.
Year-on-year, gold is still up 71.33% from ₹92,870/10g in May 2025. One month ago, 24K gold was at ₹1,54,890/10g, so even after this week's correction, it is up 2.72% on the month.
| Purity | Per Gram (₹) | Per 10g (₹) | Per 100g (₹) | Change vs Yesterday |
|---|---|---|---|---|
| 24 Karat (999) | 15,911 | 1,59,110 | 15,91,100 | 🟢 ▲ +0.01% |
| 22 Karat | 14,585 | 1,45,851 | 14,58,508 | 🟢 ▲ Flat |
| 20 Karat | 13,259 | 1,32,592 | 13,25,917 | 🟢 ▲ Flat |
| 18 Karat | 11,933 | 1,19,333 | 11,93,325 | 🟢 ▲ Flat |
| 14 Karat | 9,281 | 92,814 | 9,28,142 | 🟢 ▲ Flat |
Silver Price Today in India (per gram and per kg)
Silver prices also held firm after a steep decline in recent sessions. In Delhi, silver was quoted at ₹280 per gram and ₹2,80,000 per kilogram, unchanged from the previous day after dropping by about ₹10,000 per kilogram over the past two days.
Bullions.co.in shows ₹2,71,740/kg and ₹272 per gram. The difference between the two sources reflects local taxes and dealer margins in Delhi versus the all-India spot rate.
Despite the dramatic correction from last week's peak of ₹3,10,000/kg, silver is still up 184.60% year-on-year from ₹95,480/kg in May 2025. It is also up 4.84% from one month ago.
| Unit | Silver 999 Fine (₹) | Silver 925 Sterling (₹) | Silver 900 Coin (₹) | Change vs Yesterday |
|---|---|---|---|---|
| 1 gram | 272 | 251 | 245 | 🟢 ▲ Flat |
| 10 grams | 2,717 | 2,514 | 2,446 | 🟢 ▲ Flat |
| 100 grams | 27,174 | 25,136 | 24,457 | 🟢 ▲ Flat |
| 1 kg (999 fine) | 2,71,740 | 2,51,360 | 2,44,566 | 🟢 ▲ +20 |
| 1 ounce | 7,704 | 7,126 | 6,933 | 🟢 ▲ Flat |
| 1 tola | 3,170 | 2,932 | 2,853 | 🟢 ▲ Flat |
City-Wise Gold and Silver Rates Today (17 May 2026)
Prices are flat across all cities today. There is no new price movement to report. The rates below carry forward Friday's closing levels. The recent selling pressure in precious metals came amid a hawkish global macro environment and shifting investor sentiment. Jewellers in most cities have not updated their boards since Friday afternoon.
| City | Silver 999 (₹/kg) | Silver (₹/g) | Gold 24K (₹/10g) | Gold 22K (₹/10g) | vs Friday |
|---|---|---|---|---|---|
| Delhi | 2,80,000 | 280 | 1,59,110 | 1,45,851 | 🟢 ▲ Unchanged |
| Mumbai | 2,80,000 | 280 | 1,58,960 | 1,45,713 | 🟢 ▲ Unchanged |
| Chennai | 2,80,000 | 280 | 1,60,660 | 1,47,271 | 🟢 ▲ Unchanged |
| Hyderabad | 2,80,000 | 280 | 1,58,960 | 1,45,713 | 🟢 ▲ Unchanged |
| Bengaluru | 2,80,000 | 280 | 1,58,960 | 1,45,713 | 🟢 ▲ Unchanged |
| Kolkata | 2,80,000 | 280 | 1,58,960 | 1,45,713 | 🟢 ▲ Unchanged |
| Pune | 2,80,000 | 280 | 1,58,960 | 1,45,713 | 🟢 ▲ Unchanged |
| Ahmedabad | 2,80,000 | 280 | 1,59,010 | 1,45,759 | 🟢 ▲ Unchanged |
| Surat | 2,80,000 | 280 | 1,59,010 | 1,45,759 | 🟢 ▲ Unchanged |
| Jaipur | 2,80,000 | 280 | 1,59,110 | 1,45,851 | 🟢 ▲ Unchanged |
Note: Retail silver rates from Goodreturns (₹2,80,000/kg) include local taxes and dealer margins. Bullions.co.in spot rate is ₹2,71,740/kg. Always confirm with your local jeweller before buying.
Muskaan Kapoor
Global Gold and Silver Prices - COMEX and Spot (Last Close, 16 May 2026)
COMEX is closed over the weekend. The figures below are Friday's closing prices, which will form the basis for Monday's opening.
| Commodity | Exchange | Last Close (USD) | Weekly Change | % Change (week) |
|---|---|---|---|---|
| Gold Futures | COMEX | $4,543.60/oz | 🔴 ▼ −$110.90 | 🔴 ▼ −2.38% |
| Silver Futures | COMEX | $76.30/oz | 🔴 ▼ −$11.07 | 🔴 ▼ −12.68% |
| Gold-Silver Ratio | — | ~59.5:1 | 🟢 ▲ Rising | — |
Silver had a shocking week on COMEX, losing over 12% from Monday's high near $87 per ounce. Gold was more resilient but still fell 2.38% for the week. High volatility is expected this week ahead of the release of FOMC minutes, May PMI data for the manufacturing and services sectors, and May inflation expectations from the University of Michigan.
What Happened This Week - The Full Story in One Place
This was the most dramatic week for Indian bullion markets in recent memory. Here is the full week summarised simply.
| Date | Key Event | Gold 24K (₹/10g) | Silver 999 (₹/kg) | Move |
|---|---|---|---|---|
| 17 May | Prices hold flat, MCX closed | 1,59,110 | 2,71,740 | 🟢 ▲ Flat |
| 16 May | Trump-Xi no deal aftermath, COMEX crashes | 1,59,100 | 2,71,720 | 🔴 ▼ Both crash |
| 15 May | Silver falls ₹9,000, Gold holds | 1,62,650 | 2,91,760 | 🔴 ▼ Silver falls |
| 14 May | Silver crosses ₹3 lakh first time | ~1,62,010 | ~3,00,000–3,10,000 | 🟢 ▲ Historic high |
| 13 May | Import duty hiked to 15%, both surge 6% | 1,63,000 | 2,96,910 | 🟢 ▲ Shock rally |
| 12 May | PM Modi gold appeal weighs | 1,54,010 | 2,79,570 | 🔴 ▼ Both fall |
| 10 May (1 wk ago) | — | 1,53,150 | 2,62,370 | Baseline |
Gold is up just 3.89% this week despite all the drama. Silver, on the other hand, surged over 17% at its peak before crashing back to end the week up only 3.57%. That swing tells you everything about how volatile silver has become in 2026.
Why Are Gold and Silver Prices Falling This Week? The Full Picture
1. Import duty hike shocked the market
On 13 May, India raised the import duty on gold and silver from 6% to 15%. This caused a one-day price surge of nearly 6%. But within 48 hours, markets began to realise that a higher duty also means lower consumer demand and higher smuggling risk. The initial excitement faded.
2. The Trump-Xi summit produced no trade deal
Although prolonged tensions involving the United States and Iran have kept concerns over energy markets elevated, traders appeared to book profits after the summit. Silver had built in a 7% premium ahead of the Trump-Xi Beijing meeting, betting on a trade breakthrough. When none came, silver fell sharply. Roughly 60% of silver demand is industrial and tied to US-China supply chains.
3. US inflation at its hottest in four years
A 6% US Producer Price Index print landed during the week. High inflation means the Federal Reserve cannot cut interest rates. The probability of a rate cut in June now stands at just 2.6%, whilst 97.4% of market participants expect rates to stay unchanged at 3.50-3.75%. Non-yielding metals like gold and silver suffer when rates stay high.
4. US Treasury yields hit yearly highs
Rising bond yields pulled investors away from gold and silver. When 10-year US Treasury yields climbed above 4.54%, bonds became more attractive than metals. Money flowed out of precious metals and into fixed income.
5. A stronger dollar and a weaker rupee
The US dollar is at approximately ₹96 today. A firmer dollar makes dollar-priced gold and silver costlier for buyers in other currencies, reducing global demand. India also feels this through a weaker rupee, which raises the cost of importing metals further.
What to Watch Next Week (18-23 May 2026)
This is another important week for global markets. The events below will directly move gold and silver prices.
| Date | Event | Expected Impact |
|---|---|---|
| 19 May | US-Iran ceasefire talks — any update | 🟢 Bullish if progress; 🔴 Bearish if stalled |
| 20 May | FOMC minutes released | 🟢 Bullish if dovish tone; 🔴 Bearish if hawkish |
| 21 May | US Initial Jobless Claims | 🟢 Bullish if higher; 🔴 Bearish if lower |
| 21 May | US Manufacturing and Services PMI (May) | 🟢 Bullish if weak; 🔴 Bearish if strong |
| 22 May | University of Michigan inflation expectations | 🔴 Bearish if high; 🟢 Bullish if low |
On 18 May, XAU/USD may continue to decline. Market participants are also closely monitoring reports that US military officials plan to brief President Trump on potential operations against Iran. Trump stated that the United States would continue its naval blockade of Iran until a nuclear agreement is reached.
If the FOMC minutes sound more hawkish than expected, gold could test the ₹1,55,000/10g support level on MCX when trading opens Monday. For silver, ₹2,60,000–₹2,65,000/kg remains the key support zone to watch.
Gold and Silver Price Outlook - Is Now a Good Time to Buy?
This is the most common question from readers this weekend. Here is a plain-English answer.
For gold: Gold has fallen about ₹4,000/10g from its peak of ₹1,63,000 last week. The 15% import duty is permanent for now, which creates a structurally higher price floor in India. Long-term analysts maintain price targets of $5,400-$6,300 per ounce for gold by the end of 2026. At ₹1,59,000, you are buying at a slight discount to last week's peak. However, more volatility is expected next week.
For silver: Silver has corrected over ₹38,000/kg from its historic ₹3,10,000/kg peak in just four days. The long-term structural case remains intact. The World Silver Survey 2026 confirmed a sixth consecutive annual supply deficit. Industrial demand from solar panels, EVs, and electronics is not going away. But short-term traders should be aware that silver can move 10% in a single session in either direction right now.
| Factor | Direction | Impact |
|---|---|---|
| 15% import duty permanent | 🔴 Structural floor | 🟢 Higher domestic prices |
| FOMC minutes (20 May) | Uncertain | Big swing possible either way |
| US-Iran blockade continues | 🔴 Unresolved | 🟢 Some safe-haven demand |
| Silver annual supply deficit (6th year) | 🟢 Structural | 🟢 Long-term floor |
| Fed rates on hold (97.4% probability) | 🔴 Hawkish | 🔴 Non-yielding metals face pressure |
| Crude oil at $109/barrel | 🟢 Rising | 🟢 Inflation hedge demand |
This is for informational purposes only. Please consult a qualified financial adviser before making investment decisions.
FAQs
What is the gold price today in India per gram?
Today's gold price in India is ₹15,693 per gram for 24-carat gold, ₹14,385 per gram for 22-carat gold, and ₹11,770 per gram for 18-carat gold as per Goodreturns (17 May 2026). Bullions.co.in shows ₹15,911 per gram for 24K. The slight difference reflects different data sources and local price variations.
What is the silver price today in India per kg?
Silver in Delhi is quoted at ₹2,80,000 per kilogram and ₹280 per gram as per Goodreturns (17 May 2026). Bullions.co.in shows the all-India spot rate at ₹2,71,740/kg. Both are unchanged from Saturday. Silver has fallen about ₹38,000 from its peak of ₹3,10,000 on 14 May.
Why did gold and silver fall so much this week?
Five things hit at once. India's import duty hike initially caused a 6% surge, which then reversed. The Trump-Xi summit in Beijing ended without a meaningful trade deal, hitting silver hard. US inflation hit a four-year high. US Treasury yields climbed to yearly highs. And a new, more hawkish Federal Reserve chair was confirmed. All five pushed investors away from precious metals.
Is the 15% import duty on gold and silver still in force?
Yes. India raised the import duty from 6% to 15% on 13 May 2026. This combines a 10% basic customs duty with a 5% Agriculture Infrastructure and Development Cess. This is a structural change that keeps domestic Indian prices higher than global spot prices. It has not been reversed and there is no official indication it will be reversed soon.
