Gold prices witnessed a decline in Indian markets on Wednesday, May 20, 2026, as rising global bond yields weighed on the precious metal's appeal. Meanwhile, silver also slipped below the Rs 2.67 lakh per kg mark, tracking weak global cues.
Gold Price Today
According to the Indian Bullion and Jewellers Association (IBJA), the price of 24-carat gold (10 grams) stood at Rs 71,450, down by Rs 350 from the previous close. Similarly, 22-carat gold was priced at Rs 65,520 per 10 grams, reflecting a drop of Rs 320.
Factors Behind the Decline
The primary reason for the fall in gold prices is the surge in US Treasury yields, which strengthened the dollar and reduced the attractiveness of gold as an investment. Additionally, expectations of further interest rate hikes by the Federal Reserve added pressure on bullion prices globally.
Analysts noted that the dollar index remained firm near 104.5, making gold more expensive for holders of other currencies. The yield on the 10-year US Treasury note rose to 4.35%, its highest level in over a month, further dampening demand for non-yielding assets like gold.
Silver Price Today
Silver prices also traded lower, with the white metal slipping below the Rs 2.67 lakh per kg mark. The price of silver in Mumbai was Rs 2,66,800 per kg, down by Rs 1,200 from the previous session. In Delhi, silver was quoted at Rs 2,67,100 per kg, while in Chennai, it was Rs 2,66,500 per kg.
City-Wise Gold Rates (24-Carat, 10 Grams)
- Mumbai: Rs 71,450
- Delhi: Rs 71,550
- Chennai: Rs 71,350
- Kolkata: Rs 71,400
- Bengaluru: Rs 71,480
- Hyderabad: Rs 71,420
- Ahmedabad: Rs 71,500
- Pune: Rs 71,470
- Jaipur: Rs 71,520
- Lucknow: Rs 71,490
City-Wise Silver Rates (Per Kg)
- Mumbai: Rs 2,66,800
- Delhi: Rs 2,67,100
- Chennai: Rs 2,66,500
- Kolkata: Rs 2,66,900
- Bengaluru: Rs 2,66,750
- Hyderabad: Rs 2,66,600
- Ahmedabad: Rs 2,67,000
- Pune: Rs 2,66,850
- Jaipur: Rs 2,67,050
- Lucknow: Rs 2,66,950
Outlook
Market participants are now awaiting the release of the US Federal Reserve's meeting minutes, which could provide further clarity on the central bank's monetary policy stance. Any hawkish signals may exert additional downward pressure on gold prices in the near term.
Domestically, demand for gold is expected to remain subdued as buyers adopt a wait-and-watch approach amid price volatility. However, any escalation in geopolitical tensions or a sudden dip in the dollar could provide support to the yellow metal.
