Gold and Silver Price Today in India, 18 May 2026: Prices Hold Steady as MCX Reopens, But FOMC Minutes and Iran Briefing Could Change Everything This Week
The gold price today in India is ₹15,693 per gram for 24-carat gold, unchanged from Sunday. The silver price today in India is ₹2,79,900 per kg, broadly flat as the week begins.
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. The price of silver in India today is ₹279.90 per gram and ₹2,79,900 per kilogram, with crude oil rising to $111.30 per barrel and the dollar at ₹96.01.
MCX reopens today after the weekend break. The market is in a holding pattern for now. But high volatility is expected this week amid the release of the FOMC minutes on 20 May, May PMI data for the manufacturing and services sectors on 21 May, and May inflation expectations from the University of Michigan on 22 May. Any one of these can move gold and silver sharply.
Gold and Silver Price Today in India - Key Highlights
| Metric | Gold 24K | Silver 999 |
|---|---|---|
| Spot Price (per 10g / per kg) | ₹1,56,930 | ₹2,79,900 |
| Change vs Friday | 🟢 ▲ Flat/steady | 🟢 ▲ Flat/steady |
| Retail per gram | ₹15,693 (24K) | ₹280 |
| 22K gold per gram | ₹14,384 | — |
| 18K gold per gram | ₹11,770 | — |
| MCX Gold (prev. close, 17 May) | ₹1,58,450/10g | — |
| MCX Silver (prev. close, 17 May) | — | ₹2,71,226/kg |
| COMEX Gold (last close) | $4,543.60/oz | — |
| COMEX Silver (last close) | $76.30/oz | — |
| Gold-Silver Ratio | ~57.6:1 | — |
| Crude Oil (Brent) | $111.30/barrel | 🟢 ▲ Rising |
| USD/INR | ₹96.01 | — |
| Last Updated | 18 May 2026, 09:30 IST | 18 May 2026, 09:30 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.
On a 10-gram basis, 24K gold is at ₹1,56,930. This is lower than the Bullions.co.in rate of ₹1,59,110 from Sunday evening, reflecting different data sources and the timing gap before the bullion associations publish Monday's official rates.
Indian gold prices are influenced by international spot prices from the London Bullion Market, the USD/INR exchange rate, import duties (currently 15%), GST at 3%, and local demand. Prices can vary by ₹50 to ₹200 between cities due to transportation costs and regional demand patterns.
Year-on-year, gold is up 71.33% from ₹92,870/10g in May 2025. One month ago it was at ₹1,54,890/10g, so it is up 2.72% over the month despite last week's sharp volatility.
| Purity | Per Gram (₹) | Per 10g (₹) | Per 100g (₹) | Change vs Friday |
|---|---|---|---|---|
| 24 Karat (999) | 15,693 | 1,56,930 | 15,69,300 | 🟢 ▲ Flat |
| 22 Karat | 14,384 | 1,43,840 | 14,38,400 | 🟢 ▲ Flat |
| 20 Karat | 13,077 | 1,30,775 | 13,07,750 | 🟢 ▲ Flat |
| 18 Karat | 11,770 | 1,17,700 | 11,77,000 | 🟢 ▲ Flat |
| 14 Karat | 9,155 | 91,543 | 9,15,425 | 🟢 ▲ Flat |
Silver Price Today in India (per gram and per kg)
The price of silver in India today is ₹279.90 per gram and ₹2,79,900 per kilogram. This is broadly flat from Friday's retail quotes and Sunday's Bullions.co.in reading of ₹2,71,740/kg. The difference between Goodreturns (₹2,79,900) and Bullions.co.in (₹2,71,740) reflects local taxes, GST, and dealer margins added on top of the spot rate.
Silver is still up 184.60% year-on-year from ₹95,480/kg in May 2025. Despite the dramatic crash from ₹3,10,000/kg just four days ago, the metal has held its ground at the ₹2,70,000 to ₹2,80,000 support range.
| Unit | Silver 999 Fine (₹) | Silver 925 Sterling (₹) | Silver 900 Coin (₹) | Change vs Friday |
|---|---|---|---|---|
| 1 gram | 280 | 259 | 252 | 🟢 ▲ Flat |
| 10 grams | 2,799 | 2,588 | 2,519 | 🟢 ▲ Flat |
| 100 grams | 27,990 | 25,879 | 25,191 | 🟢 ▲ Flat |
| 1 kg (999 fine) | 2,79,900 | 2,58,793 | 2,51,910 | 🟢 ▲ Flat |
| 1 ounce | 7,939 | 7,341 | 7,144 | 🟢 ▲ Flat |
| 1 tola | 3,266 | 3,020 | 2,939 | 🟢 ▲ Flat |
City-Wise Gold and Silver Rates Today (18 May 2026)
Official city rates from bullion associations are updated once or more during the trading day. The rates below reflect the opening indicative rates for 18 May based on Goodreturns morning data and Sunday's Bullions.co.in levels. Chennai carries its standard premium over other metros.
| City | Silver 999 (₹/kg) | Silver (₹/g) | Gold 24K (₹/10g) | Gold 22K (₹/10g) | vs Friday |
|---|---|---|---|---|---|
| Delhi | 2,79,900 | 280 | 1,56,930 | 1,43,840 | 🟢 ▲ Flat |
| Mumbai | 2,79,900 | 280 | 1,56,780 | 1,43,715 | 🟢 ▲ Flat |
| Chennai | 2,79,900 | 280 | 1,58,480 | 1,45,274 | 🟢 ▲ Flat |
| Hyderabad | 2,79,900 | 280 | 1,56,780 | 1,43,715 | 🟢 ▲ Flat |
| Bengaluru | 2,79,900 | 280 | 1,56,780 | 1,43,715 | 🟢 ▲ Flat |
| Kolkata | 2,79,900 | 280 | 1,56,780 | 1,43,715 | 🟢 ▲ Flat |
| Pune | 2,79,900 | 280 | 1,56,780 | 1,43,715 | 🟢 ▲ Flat |
| Ahmedabad | 2,79,900 | 280 | 1,56,830 | 1,43,761 | 🟢 ▲ Flat |
| Surat | 2,79,900 | 280 | 1,56,830 | 1,43,761 | 🟢 ▲ Flat |
| Jaipur | 2,79,900 | 280 | 1,56,930 | 1,43,840 | 🟢 ▲ Flat |
Muskaan Kapoor
MCX Gold and Silver - Opening Week Reference
MCX reopens today after the Saturday-Sunday break. The last confirmed MCX closing prices are from Friday, 16 May 2026.
| Contract | Last MCX Close (₹) | Change on 16 May | % Change | Week Range |
|---|---|---|---|---|
| MCX Gold — June 2026 | 1,58,450/10g | 🔴 ▼ −97 (−0.06%) | 🔴 ▼ | High: ₹1,60,992 / Low: ₹1,58,150 |
| MCX Silver — July 2026 | 2,71,226/kg | 🔴 ▼ −660 (−0.24%) | 🔴 ▼ | High: ₹2,83,219 / Low: ₹2,68,504 |
On 18 May, XAU/USD may continue to decline, with market participants closely monitoring the geopolitical situation following reports that US military officials plan to brief President Trump on potential operations against Iran. This briefing could shift sentiment quickly in either direction when it happens.
Global Gold and Silver Prices - COMEX Last Close (16 May 2026)
COMEX trading resumes tonight (Indian time). The figures below are Friday's closing levels.
| 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 | — |
| Crude Oil (Brent) | — | $111.30/barrel | 🟢 ▲ Rising | — |
Crude oil at $111.30 per barrel is a key figure to watch. Rising oil keeps inflation fears alive, which supports gold as an inflation hedge. But it also reinforces the "higher for longer" interest rate view, which reduces the appeal of non-yielding metals. This contradiction explains why gold is flat today rather than moving strongly in either direction.
What Is Driving Gold and Silver Prices Today?
1. Iran briefing for Trump - markets on standby
Market participants are closely monitoring the geopolitical situation following reports that US military officials plan to brief President Trump on potential operations against Iran. Trump has stated that the United States would continue its naval blockade of Iran until a nuclear agreement is reached. If this briefing leads to any escalation, gold could jump sharply. If there are signs of progress toward a deal, gold could fall.
2. Crude oil climbs to $111.30, adding to inflation fears
Crude oil is at $111.30 per barrel today. The Strait of Hormuz is still effectively under disruption. Higher oil means higher fuel costs, transport costs, and food prices. This pushes up overall inflation. In this environment, gold tends to hold its safe-haven value.
3. FOMC minutes on Wednesday, the week's biggest event
High volatility is expected this week amid the release of the FOMC minutes on 20 May. According to CME Group, the probability of a rate cut to 3.25 to 3.50% in June stands at just 2.6%, whilst 97.4% of market participants expect rates to remain unchanged at 3.50 to 3.75%. If the FOMC minutes sound more hawkish than expected, gold and silver could fall again. A softer tone could trigger a sharp bounce.
4. Import duty at 15%
India's import duty on gold is currently at 15%. This was raised from 6% on 13 May 2026. It has not been reversed. This means domestic gold and silver prices in India will stay structurally higher than global spot prices. Even if COMEX gold falls further, Indian retail prices will not fall by the same proportion.
5. Rupee at ₹96 per dollar
The USD/INR rate is ₹96.01 today. A weaker rupee makes gold and silver more expensive to import. This adds another layer of support under domestic prices, even when global prices are soft.
Gold and Silver Price Trend - Last 7 Days
| Date | Silver 999 (₹/kg) | Gold 24K (₹/10g) | Key Event | Move |
|---|---|---|---|---|
| 18 May 2026 | 2,79,900 | 1,56,930 | MCX reopens, FOMC week | 🟢 ▲ Flat |
| 17 May 2026 | 2,71,740 | 1,59,110 | Both flat, MCX closed | 🟢 ▲ Flat |
| 16 May 2026 | 2,71,720 | 1,59,100 | Trump-Xi no deal crash | 🔴 ▼ Both crash |
| 15 May 2026 | 2,91,760 | 1,62,650 | COMEX silver −6% | 🔴 ▼ Silver falls |
| 14 May 2026 | ~3,00,000 | 1,62,010 | Silver crosses ₹3 lakh | 🟢 ▲ Historic |
| 13 May 2026 | 2,96,910 | 1,63,000 | Import duty 6% to 15% | 🟢 ▲ +6% surge |
| 11 May 2026 | 2,62,370 | 1,53,150 | Baseline pre-duty | — |
Gold is up 2.47% from one week ago. Silver is up 6.68% from one week ago, despite the dramatic crash in between. The week of 11-18 May has been the most volatile in recent Indian bullion market history.
What to Watch This Week (18-22 May 2026)
| Date | Event | Expected Impact |
|---|---|---|
| 18 May | Trump-Iran military briefing | 🟢 Bullish if escalation; 🔴 Bearish if de-escalation |
| 20 May | FOMC minutes released | 🟢 Bullish if dovish; 🔴 Bearish if hawkish |
| 21 May | US Initial Jobless Claims | 🟢 Bullish if high; 🔴 Bearish if low |
| 21 May | US Manufacturing and Services PMI (May) | 🟢 Bullish if weak; 🔴 Bearish if strong |
| 22 May | University of Michigan inflation data | 🔴 Bearish if high; 🟢 Bullish if low |
This week's data flow is heavy. Traders are advised to expect large intraday swings on MCX, particularly on 20 and 21 May.
FAQs on Gold and Silver Prices in India (18 May 2026)
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 of 18 May 2026 (Goodreturns morning feed). Bullions.co.in will update once the bullion associations publish Monday's official rates.
What is the silver price today in India per kg?
The silver price today in India is ₹2,79,900 per kilogram and ₹279.90 per gram as per Goodreturns (18 May 2026). This is broadly flat from the weekend close. Silver has found support in the ₹2,70,000 to ₹2,80,000 range after last week's dramatic crash from ₹3,10,000/kg.
Why is the gold price flat today?
Gold is flat today because markets are in a holding pattern ahead of the FOMC minutes on Wednesday. Nobody wants to take a big position before seeing what tone the Federal Reserve sets. Crude oil rising to $111.30 is providing some support, whilst the firm dollar at ₹96 per USD is capping any sharp upside.
What is the MCX gold price today?
MCX reopened this morning after the weekend break. The last confirmed close on 16 May was ₹1,58,450/10g (down ₹97, −0.06%). Today's opening price will be available from MCX from 09:00 IST. Watch for volatility as the market digests the weekend's Iran developments.
Will gold prices go up or down this week?
On 18 May, XAU/USD may continue to decline. High volatility is expected this week amid the FOMC minutes, PMI data, and University of Michigan inflation expectations. A dovish FOMC reading or a fresh Iran escalation could push gold higher. A hawkish tone or signs of a US-Iran deal could push it lower. Expect big swings mid-week. Please consult a qualified financial adviser before making investment decisions.
