Gold and silver prices slipped on the Multi Commodity Exchange (MCX) on Thursday amid a fall in spot demand from local jewelers and retailers. The decline was also influenced by a subdued global trend as investors awaited further cues on US monetary policy.
Gold Rates Today
On MCX, gold futures for June 2026 expiry were trading lower by 0.3% at Rs 71,250 per 10 grams. The yellow metal faced selling pressure as spot demand weakened due to the ongoing wedding season, which typically sees higher purchases. Traders also remained cautious ahead of the US Federal Reserve's minutes, which could provide clarity on interest rate trajectory.
Silver Rates Today
Silver futures for July 2026 expiry on MCX declined by 0.4% to Rs 82,100 per kilogram. The white metal mirrored gold's weakness amid a stronger US dollar and rising bond yields. Industrial demand for silver remained tepid, adding to the bearish sentiment.
City-Wise Gold and Silver Prices
Here are the spot prices in major Indian cities on May 21, 2026:
- Delhi: Gold (22K) Rs 70,800/10g, Silver Rs 82,500/kg
- Mumbai: Gold (22K) Rs 70,500/10g, Silver Rs 82,200/kg
- Chennai: Gold (22K) Rs 71,200/10g, Silver Rs 83,000/kg
- Kolkata: Gold (22K) Rs 70,700/10g, Silver Rs 82,400/kg
- Bengaluru: Gold (22K) Rs 70,600/10g, Silver Rs 82,300/kg
Global Factors Influencing Prices
Globally, spot gold was trading near $2,340 per ounce, down 0.2%, while silver was at $31.20 per ounce, down 0.5%. A stronger US dollar index above 104.5 made commodities more expensive for holders of other currencies. Additionally, the US 10-year Treasury yield held above 4.4%, reducing the appeal of non-yielding assets like gold.
Outlook
Analysts expect gold to remain range-bound in the near term, with support at Rs 71,000 and resistance at Rs 72,000 on MCX. Silver may find support at Rs 81,500 and face resistance at Rs 83,000. Investors are advised to keep an eye on global cues and domestic demand trends.
Note: Prices vary across cities due to local taxes and making charges. The rates mentioned are indicative and may differ at local bullion dealers.
