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Gold, Silver Rate Today Highlights: MCX Gold prices post modest gains, MCX Silver drops; international gold prices steady

Gold, Silver Rate Today Live Updates: Gold and silver prices are expected to remain volatile in both the domestic and internatio...

The Times of India | May 19, 2026, 20:41:11 IST

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20:41 (IST), May, 19

Gold futures decline on MCX; October contract drops over 1.6%

MCX gold futures traded lower on Tuesday with the June contract falling Rs 461, or 0.29%, to Rs 1,58,940 per 10 grams. The contract touched an intraday high of Rs 1,60,200 and a low of Rs 1,58,420.
August gold futures declined 0.90% to Rs 1,61,546 per 10 grams, while October futures dropped 1.61% to Rs 1,64,039. The June contract remained the most active, recording volumes of 4,724 lots and open interest of 6,578 lots.

20:33 (IST), May, 19

Gold, Silver rate outlook: Markets await Fed cues as gold, silver trade mixed

In the international market, spot gold was trading 0.47 per cent lower at USD 4,544.78 per ounce, while silver declined 2.01 per cent to USD 76.12 per ounce.

"Spot gold prices are trading lower at around USD 4,540 per ounce as oil prices, though having eased slightly, remain elevated," Praveen Singh, Head of Commodities at Mirae Asset Sharekhan, said.

Investors are now awaiting the minutes of the US Federal Open Market Committee (FOMC) meeting for further cues on the interest rate cycle and its impact on bullion prices, he added.

19:49 (IST), May, 19

Bengaluru closing bullion rates on Tuesday.

1 Gm Gold 22 Kt - Rs 14,825

1 Gm Gold 24 Kt - Rs 16,175

19:25 (IST), May, 19

Gold rebounds on hopes of US-Iran talks, easing inflation fears

"Gold prices rebounded on Tuesday as hopes for renewed US-Iran negotiations improved, easing some concerns over prolonged energy-driven inflation pressures," Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said.

Sentiment improved after US President Donald Trump said that he had suspended a planned military strike on Iran, indicating that a diplomatic resolution with Tehran might still be achievable, he added.

18:38 (IST), May, 19

Gold, Silver Rate Today Live: Gold rebounds Rs 800 to Rs 1.63 lakh/10g as easing US-Iran tensions spur buying

Gold prices rebounded by Rs 800 to Rs 1.63 lakh per 10 grams in the national capital on Tuesday, as signs of a breakthrough in US-Iran negotiations eased concerns over inflation pressure.

According to local marketmen, the yellow metal of 99.9 per cent purity rose Rs 800 to Rs 1,63,600 per 10 grams (inclusive of all taxes) from Monday's closing level of Rs 1,62,800 per 10 grams.
However, silver prices dropped by Rs 5,000 to Rs 2,71,000 per kilogram (inclusive of all taxes) due to weak industrial demand and subdued trends in the global markets.

17:40 (IST), May, 19

Gold Rate Today Live: Gold futures trade mixed on MCX; June contract gains Rs 468

MCX gold futures traded mixed on May 19, 2026, with the June contract rising Rs 468, or 0.29%, to Rs 1,59,869 per 10 grams. The contract touched an intraday high of Rs 1,60,200 and a low of Rs 1,59,161.
Meanwhile, August gold futures declined 0.28% to Rs 1,62,550 per 10 grams, while October futures slipped 0.45% to Rs 1,65,972. The June contract remained the most active, recording volumes of 2,812 lots and open interest of 6,724 lots.

16:28 (IST), May, 19

Silver Rate Today Live: Silver futures decline over 1%; July contract slips Rs 2,824 on MCX

MCX silver futures traded lower on May 19, 2026, with the July contract falling Rs 2,824, or 1.02%, to Rs 2,73,827 per kg. The contract touched an intraday high of Rs 2,76,666 and a low of Rs 2,72,910.
September silver futures declined 0.66% to Rs 2,79,373 per kg, while December silver futures slipped 0.67% to Rs 2,86,081 per kg. The July contract remained the most active, recording volumes of 3,805 lots and open interest of 8,962 lots.

15:38 (IST), May, 19

Rupee falls 0.2% to close at 96.5325 against US dollar

The Indian rupee ended lower on Tuesday, slipping 0.2% to close at 96.5325 against the US dollar, compared with its previous close of 96.3450.

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15:30 (IST), May, 19

Gold falls, hovers near 1-1/2-month low on increased rate hike bets

Gold prices declined on Tuesday, hovering near a one-and-a-half-month low touched in the previous session, as concerns over inflation and expectations of higher U.S. interest rates weighed on sentiment.
Spot gold fell 0.5% to $4,542.07 per ounce by 0922 GMT after dropping to its lowest level since March 30 at $4,479.54 on Monday. Meanwhile, U.S. gold futures for June delivery slipped 0.3% to $4,545.50.

14:30 (IST), May, 19

Gold Rate Today: Gold lower as oil prices remain elevated

Gold prices, following a rise of around 0.60% to $4566 yesterday, are currently trading with a loss of 0.60% at $4538 as oil prices, though having eased slightly, remain elevated.

Oil prices are consolidating as the US President Trump, citing positive development in US-Iran talks,said that he has delayed planned strike on Iran.

Meanwhile, as shown by the CFTC data, money managers, in the week ending May 19, increased their bullish gold bets by 4,963 net-long positions to 100,627 -- the most bullish in eight weeks, while short-only positions fell 560 lots to 28,443 – the lowest in six weeks.

Investors will monitor US-Iran headlines. Data in near term include March TIC flows (May 19) and FOMC minutes of April 29 meeting (May 20).

While gold may remain highly choppy as it reacts to Iran headlines, the metal is vulnerable as rate cut chances fade amid elevated oil prices and US economy continues to do well.

It is advisable to sell into rallies with a tight stoploss. Support is seen at $4480, a breach of which will bring $4345 into bears' focus. Resistance is at $4610/4670, says Praveen Singh,Head of commodities at Mirae Asset ShareKhan.

13:29 (IST), May, 19

Gold Rate Today: Gold round-up today

Gold prices moved higher in Asian trade after US President Trump said he had postponed a planned military strike on Iran, while indicating that “serious negotiations” with Tehran were ongoing. The yellow metal also found support from easing US Treasury yields after a prolonged selloff in global bond markets paused.

Trump’s comments briefly improved hopes of a potential de-escalation in the Middle East conflict, helping oil prices retreat sharply and reducing immediate fears of an energy-driven inflation shock. Lower oil prices in turn eased pressure on bond markets, with US 10-year yields falling 0.6% overnight while Japanese 10-year yields cooled from 29-year highs. However, gold pared part of its gains as investors remained cautious over whether a lasting peace agreement could actually be achieved. Markets continue to worry that prolonged disruptions around the Strait of Hormuz and elevated crude prices could keep global inflation high and force central banks to maintain a hawkish stance.

The dollar also weakened slightly after Trump’s remarks, offering additional support to bullion prices. Meanwhile, central bank demand for gold remained robust, with the World Gold Council estimating purchases of 244 tonnes in Q1 2026 compared to 208 tonnes in the previous quarter, highlighting continued institutional demand amid heightened geopolitical uncertainty.

On the geopolitical front, Trump said Gulf leaders from Qatar, Saudi Arabia, and the UAE had urged restraint and expressed confidence that a deal acceptable to all sides could still be reached, although Washington and Tehran remain divided over Iran’s nuclear program, sanctions relief, compensation for war damages, and the reopening of the Strait of Hormuz, says Manav Modi Commodities Analyst Motilal Oswal Financial Services Ltd.

12:29 (IST), May, 19

Gold Rate Today: Mumbai bullion opening rates

Silver spot (in Rs per kilo) : 270221.00

Standard gold (99.5) : 158271.00

Pure gold (99.9) : 158907.00

11:15 (IST), May, 19

Gold Rate Today: Govt not planning to monetise temple gold

Rejecting all ongoing rumours and speculation, the government on Tuesday clarified that there is no proposal under consideration to launch any monetisation programme involving gold owned by temple trusts or religious institutions in the country.

In a statement, the finance ministry said such claims are entirely false, baseless and misleading.

The ministry also dismissed reports suggesting that gold used on temple towers, doors or other religious structures would be classified as part of India’s “Strategic Gold Reserves”, calling such assertions completely untrue and without any factual foundation.

Citizens were advised not to trust or share these rumours, with the ministry warning that circulation of unverified information creates needless confusion and can mislead the public.

It further said people should depend only on official announcements released through authorised government channels.

Any decision related to policies or government schemes, the ministry added, would be communicated solely through official press releases, government portals and verified public communication platforms.

10:03 (IST), May, 19

Gold Rate Today: MCX Gold rises, Silver drops

Gold and silver prices showed a mixed trend on the Multi Commodity Exchange (MCX) on Tuesday as the dollar index weakened and crude oil prices slipped below the $110-per-barrel level. Gold registered modest gains, while silver continued to trade lower.

Gold prices found support after US President Donald Trump announced that he had deferred a planned military action against Iran following appeals from influential Middle Eastern leaders. The move eased concerns of an immediate escalation in the region that could have further disrupted global crude oil supplies and intensified inflationary pressures.

In the domestic futures market, MCX silver contracts for July 2026 delivery fell by Rs 1,151, or 1%, to Rs 2,75,500 per kg. Meanwhile, gold futures for June 2026 delivery rose by Rs 500 to Rs 1,59,899 per 10 grams. In the previous trading session, both gold and silver had ended largely unchanged.

Higher crude oil prices generally increase inflation concerns. Although gold is often viewed as a safeguard against inflation, elevated interest rates tend to reduce the appeal of the non-yielding precious metal.

08:50 (IST), May, 19

Gold Rate Today: International gold prices steady

Gold prices were largely unchanged on Tuesday as a softer dollar and declining crude oil prices followed US President Donald Trump’s decision to pause a planned strike on Iran, reducing worries around inflation and the prospect of interest rates staying elevated for an extended period.

Spot gold was little changed at $4,565.40 per ounce as of 0103 GMT, after touching its lowest level since March 30 in the previous trading session.

US gold futures for June delivery edged up 0.2% to $4,567.90.

08:23 (IST), May, 19

Gold outlook: Is the recent correction just a pause?

Some banks have started lowering near-term gold forecasts amid softer investor demand, although analysts believe the broader case for gold remains intact.
"The decline (in gold prices) is technically stretched, and markets don't seem ready to let gold drop into a bear territory as the structural case for gold remains intact, helping it find support," said Nikos Tzabouras.
JPMorgan has cut its 2026 average gold price forecast to $5,243 per ounce from $5,708.

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06:33 (IST), May, 19

Fed rate hike bets return as inflation worries rise

Traders are increasingly pricing in a possible US interest rate increase later this year as higher energy prices continue to drive inflation concerns.
According to CME FedWatch data, markets are assigning around a 40% probability of a rate hike in December.

05:44 (IST), May, 19

Gold rate outlook: Can rising bond yields derail gold's recovery?

Global government bonds extended losses as investors worried about inflation risks from rising oil prices and potential central bank action.
"With markets pricing out any Federal Reserve rate cuts (this year) and hike bets on the rise, higher-for-longer prospects are dealing a direct blow to non-yielding assets like gold," said Nikos Tzabouras, senior market analyst at Jefferies-owned Tradu.com.

04:17 (IST), May, 19

Oil above $110: Why are commodity markets getting nervous again?

Brent crude remained above $110 per barrel as efforts to end the Iran conflict appeared stalled, keeping concerns around energy supply disruptions alive.
Oil has risen since the beginning of the US-Israel war against Iran, increasing inflation fears and strengthening expectations of tighter monetary policy globally.

02:11 (IST), May, 19

Silver rises Rs 1,000 after govt tightens import restrictions

Silver prices gained momentum in the domestic market, climbing Rs 1,000 to Rs 2.76 lakh per kilogram as traders reacted to the government's move to curb imports of the white metal.
"The move is expected to lower silver imports and tighten domestic availability, which could lead to higher premiums in the local market," Gandhi added.

01:00 (IST), May, 19

Gold steady despite global pressure as weak rupee cushions domestic prices

Gold prices remained unchanged at Rs 1.62 lakh per 10 grams in Delhi on Monday even as international bullion prices remained under pressure. Analysts said the record weakness in the rupee helped offset global declines.
"Gold prices in the domestic market traded flat on Monday, following a sharp sell-off in the previous session, tracking weakness in the international bullion market," said Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities.

23:18 (IST), May, 18

Silver futures rally on MCX; July contract jumps nearly 2%

MCX silver futures witnessed strong buying interest on May 18, 2026, led by the July contract, which surged Rs 4,919, or 1.81%, to Rs 2,76,805 per kg. The contract touched an intraday high of Rs 2,80,400 amid heavy trading volumes.

September silver futures also advanced 0.51%, while the December contract declined 0.74%. The July contract remained the most active, recording volumes of 11,262 lots and open interest of 8,663 lots.

22:33 (IST), May, 18

Gold steady as weaker dollar offsets rising Treasury yields

Gold steadied on Monday as support from a weaker U.S. dollar offset pressure from higher Treasury yields and inflation concerns stemming from rising oil prices.

Spot gold was largely unchanged at $4,540.49 per ounce as of 12:35 p.m. ET (1635 GMT). It hit its lowest since March 30 earlier in the session, before climbing around 1%.

U.S. gold futures ‌for June ⁠delivery were ⁠down 0.4% at $4,544.90.

The dollar fell against most major currencies, making bullion, which is priced in the currency, more affordable for other currency holders.

21:18 (IST), May, 18

Gold futures rise on MCX; June contract gains 0.44% amid active trading

MCX gold futures traded mixed on May 18, 2026, with the June contract emerging as the top performer. The June gold futures contract rose Rs703, or 0.44%, to Rs1,59,250 per 10 grams, after touching an intraday high of Rs1,60,266.

Meanwhile, August and October gold futures contracts slipped 0.19% and 0.16%, respectively. Trading activity remained highest in the June contract, which recorded volumes of 5,285 lots and open interest of 6,994 lots.

20:37 (IST), May, 18

Gold flat at Rs 1.62 lakh/10g; silver edges higher on import curbs

Gold prices remained flat at Rs 1.62 lakh per 10 grams in the national capital on Monday, while silver rates edged higher to Rs 2.76 lakh per kilogram amid fresh restrictions on imports of the white metal and weakness in the rupee.
According to the All India Sarafa Association, the white metal appreciated by Rs 1,000 to Rs 2,76,000 per kg (inclusive of all taxes) from Friday's closing level of Rs 2,75,000 per kg.
Gold of 99.9 per cent purity was unchanged at Rs 1,62,800 per 10 grams in the bullion market, according to the association.

18:14 (IST), May, 18

Bengaluru closing bullion rates on Monday

1 Gm Gold 22 Kt - Rs 14,750
1 Gm Gold 24 Kt - Rs 16,090

17:25 (IST), May, 18

Gold edges higher from over 1-1/2-month low but higher yields cap gains

Gold prices edged higher on Monday after touching a more than one-and-a-half-month low earlier in the session. However, gains remained limited as concerns over rising inflation and elevated interest rates pushed global bond yields higher.
Spot gold rose 0.1% to $4,540.27 per ounce by 1018 GMT after hitting its lowest level since March 30 earlier in the day. Meanwhile, US gold futures for June delivery slipped 0.4% to $4,544.

16:20 (IST), May, 18

Gold Rate Today: Gold prices remain volatile

“Gold prices remained highly volatile as COMEX gold initially declined towards the $4500 zone, dragging MCX Gold lower near ₹157500, down around ₹1000 in early trade. However, lower levels attracted buying interest, with COMEX gold recovering towards $4550, while continued rupee weakness supported MCX Gold and lifted prices back near ₹159300.

Markets remain focused on ongoing US–Iran developments, along with rupee-dollar movement, which continue to drive volatility across bullion markets. Technically, gold has immediate support near ₹158000, while resistance is placed around ₹160000 for the next couple of sessions,” says Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities.

15:19 (IST), May, 18

Gold Rate Today: Gold steady following a huge weekly loss as US-Iran talks eyed

Today, spot gold fell to the cycle low support of $4480 in the Asian session as the US Dollar and oil prices extended their gains from the previous week.

Earlier, gold fell 3.7% for the week in the week ending May 15 on hotter-than-expected US PPI and CPI data as retail sales grew for the third straight month in April. US -China summit concluded on a somewhat positive note as Trump did not rake up contentious issues like technology, trade and tariffs. Consequently, global bond yields surged, which further boosted downside pressure on the yellow metal.

Gold has erased its today's losses and is currently trading with a gain of 0.1% at $4545 as Iran has floated a possibility of the Strait of Hormuz opening citing ongoing negotiation with US, though there is no official confirmation from the US.

Gold is expected to be choppy as traders monitor US-Iran talks. Overall, we look for a possibility of a test of $4345 support as oil and yields remain elevated. Resistance is at $4610/$4670, says Praveen Singh, Head of commodities at Mirae Asset ShareKhan.

14:21 (IST), May, 18

Gold Rate Today: How to trade gold?

Manoj Kumar Jain told ET that a concrete peace settlement between the United States and Iran may be necessary to provide stability and support to the bullion market. According to him, silver is expected to find support near $64 per troy ounce, while gold could maintain levels above $4,343 per troy ounce on a weekly closing basis.

He further noted that volatility in precious metals is likely to persist throughout the week due to movements in the dollar index, changes in crude oil prices and ongoing uncertainty over a potential peace understanding between the U.S. and Iran.

Jain stated that gold currently has support in the range of $4,515-$4,470 per troy ounce, with resistance placed around $4,600-$4,640 per troy ounce. For silver, support is seen between $75.50 and $72 per troy ounce, while resistance levels are placed at $80-$82.80 per troy ounce during the ongoing session.
On the MCX, he identified gold support levels at Rs 1,57,000-Rs 1,55,500 and resistance between Rs 1,59,400 and Rs 1,60,650. For silver, support is expected near Rs 2,66,600-Rs 2,61,200, while resistance is likely around Rs 2,77,700-Rs 2,83,000.

He also advised investors to avoid initiating fresh positions in bullion until the market shows signs of greater stability.

13:00 (IST), May, 18

Gold Rate Today: Chennai opening bullion rates on Monday

1 Gm Gold 22 Kt: Rs 14,750.00

1 Gm Gold 18 Kt: Rs 12,310.00

1 Gm Silver: Rs 300.00

11:32 (IST), May, 18

Gold Rate Today: Gold price outlook

Gold prices traded largely flat in Asian markets as investors remained cautious ahead of the highly anticipated meeting between US President Trump and Chinese President Xi Jinping in Beijing, where discussions are expected to revolve around trade relations, the Iran conflict, and broader global supply chain risks. While lingering tensions in the Middle East and continued disruptions around the Strait of Hormuz continued to offer some safe-haven support to bullion, stronger US inflation data and a firmer dollar capped upside momentum.

US producer inflation in April rose at its fastest pace since 2022, while consumer inflation also surprised on the upside as elevated oil prices from the Iran conflict filtered into the broader economy. This strengthened expectations that the Federal Reserve could maintain a higher-for-longer interest rate stance, reducing the appeal of non-yielding assets like gold.

Supporting the pressure on bullion, the US Dollar Index hovered near a two-week high while 10-year Treasury yields climbed to their highest since July. Markets also reacted to India’s decision to raise gold and silver import duties to nearly 15% from around 6%, a move aimed at reducing bullion imports and supporting forex reserves, but one that could hurt jewellery demand in one of the world’s largest consuming nations. Focus today will be on US Retail Sales data, says Manav Modi Commodities Analyst Motilal Oswal Financial Services Ltd.

10:31 (IST), May, 18

Gold Rate Today: MCX Gold, MCX Silver prices drop

Gold and silver prices witnessed a steep decline at the opening of trade on the Multi Commodity Exchange (MCX) on Monday as rising tensions in the Middle East lifted crude oil prices, fuelling worries over inflation and increasing expectations that interest rates may stay higher for an extended period.

In the domestic futures market, MCX silver contracts for July 2026 delivery fell by Rs 5,643, or 2.1 per cent, to Rs 2,66,243 per kilogram. Gold futures for June 2026 delivery also slipped Rs 1,000, or 0.6 per cent, to Rs 1,57,547 per 10 grams. In the previous trading session, both precious metals had settled in the flat-to-negative range.

The weakness in bullion prices followed a drone strike that caused a fire at a nuclear power facility in the United Arab Emirates, further escalating geopolitical uncertainty and pushing crude oil prices to their highest level in two weeks. The sharp rise in oil prices intensified inflationary concerns and strengthened market expectations that the US Federal Reserve could opt for another interest rate increase.

09:21 (IST), May, 18

Silver Rate Today: New silver import curbs

Just days after sharply increasing customs duties on precious metals, the government on Saturday tightened silver imports by shifting the metal to the restricted category, making inbound shipments subject to licensing requirements.

Earlier, on May 13, the Centre had raised import duties on gold and silver from 6 per cent to 15 per cent. Including the 3 per cent IGST, the overall effective duty now exceeds 18 per cent.

The move was aimed at reducing foreign exchange outflows by discouraging non-essential imports.

In a notification, the Directorate General of Foreign Trade (DGFT) stated that the import policy for silver — including silver plated with gold and platinum — has been changed from “free” to “restricted” with immediate effect.

Products placed under the restricted category can only be imported after obtaining a government licence.

However, the new curbs will not apply to imports made by 100 per cent Export Oriented Units (EOUs) and Special Economic Zone (SEZ) units, provided the imported material is not sold in the domestic market.

08:22 (IST), May, 18

Gold Rate Today: Gold prices under pressure

Bullion prices remained under pressure as geopolitical tensions escalated following a drone attack that triggered a fire at a nuclear facility in the United Arab Emirates, pushing crude oil prices upward and increasing expectations of tighter monetary policy.

Saudi Arabia also announced that it had intercepted three drones, while US President Donald Trump said Iran needed to act “quickly” after attempts to end the US-Israel conflict appeared to lose momentum.

Gold, which does not offer interest income, generally loses appeal during periods when central banks raise interest rates to combat inflation.

08:21 (IST), May, 18

Silver Rate Today: Silver price outlook this week

Jateen Trivedi, VP Research Analyst - Commodity and Currency at LKP Securities, said gold maintained a firm upward bias last week, climbing almost 4 per cent on MCX and finishing near Rs 1,58,000. He noted that the rally was mainly driven by the recent 6 per cent increase in import duty, which pushed domestic prices sharply higher despite weakness in overseas markets.

Trivedi said the latest restrictions on silver imports do not amount to a complete ban, but instead indicate tighter control over the entry process. According to him, imports will now largely move through approved channels such as RBI-authorised banks, DGFT-recognised entities and jewellers operating through bullion exchanges.

He added that the back-to-back policy measures introduced within a short span appear aimed at managing foreign exchange outflows. Restricting silver imports could help curb immediate dollar demand and ease pressure on India’s reserves.

As a result, domestic consumers may face higher silver prices and wider premiums, though the broader objective remains protection of the country’s external account position, Trivedi said.

08:21 (IST), May, 18

Gold Rate Today: Factors driving gold prices

Pranav Mer, Vice President, EBG - Commodity & Currency Research at JM Financial Services Ltd, said gold prices paused after recent gains and ended last week lower due to a sharp rise in the US dollar and global bond yields. He attributed this to stronger-than-expected April inflation readings from regions including India, China and the US, which strengthened expectations that interest rate cuts may be delayed.

Mer added that bullion prices also came under pressure after India increased import duties and introduced stricter measures to reduce precious metal imports amid concerns over the current account deficit and foreign exchange outflows.

At the same time, crude oil prices continued to rise, gaining nearly 8-10 per cent during the week while remaining above $100 per barrel. According to Mer, uncertainty over a potential US-Iran peace agreement, along with the continuing ceasefire concerns and Strait of Hormuz blockade, kept energy markets elevated.

08:21 (IST), May, 18

Gold Rate Today: Gold drops to lowest level in 1.5 months

Gold prices dropped to their weakest level in over six weeks on Monday as escalating tensions in the Middle East drove crude oil prices higher, intensifying inflation concerns and strengthening expectations that interest rates could stay elevated for a longer period.

Spot gold declined 1.1% to $4,488.99 per ounce by 0052 GMT, touching its lowest level since March 30.

US gold futures for June delivery slipped 1.5% to $4,493.30.

08:20 (IST), May, 18

Gold Rate Today: Gold round-up from last week

During the previous week, gold futures on the Multi Commodity Exchange (MCX) advanced by Rs 6,017, or 3.94 per cent, ending at Rs 1.58 lakh per 10 grams.

Silver futures too posted gains, rising Rs 9,964, or 3.8 per cent, to settle at Rs 2.71 lakh per kilogram.

Gold, Silver Rate Today Live Updates: PM Narendra Modi has called on people to reduce unnecessary gold buying over the next one year in a bid to save foreign exchange reserves of the country for more important import items such as crude oil. The recent steps to raise import duties of gold and silver from 6% to 15% and the fresh restrictions on gold and silver imports are steps in that direction by the government.

Analysts said movements in the rupee will continue to play a significant role in determining domestic bullion prices, while changes in crude oil rates and broader global economic developments are likely to influence market direction.

Traders will also keep an eye on developments at the US Federal Reserve, where Kevin Warsh is set to officially succeed Jerome Powell on Monday after the completion of Powell’s eight-year tenure.

(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India.)

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Gold, Silver Rate Today Highlights: MCX Gold prices post modest gains, MCX Silver drops; international gold prices steady

1 Gm Gold 22 Kt - Rs 14,8251 Gm Gold 24 Kt - Rs 16,175

The Indian rupee ended lower on Tuesday, slipping 0.2% to close at 96.5325 against the US dollar, compared with its previous close of 96.3450.

Silver spot (in Rs per kilo) : 270221.00Standard gold (99.5) : 158271.00Pure gold (99.9) : 158907.00

Traders are increasingly pricing in a possible US interest rate increase later this year as higher energy prices continue to drive inflation concerns.According to CME FedWatch data, markets are assigning around a 40% probability of a rate hike in December.

1 Gm Gold 22 Kt - Rs 14,7501 Gm Gold 24 Kt - Rs 16,090

1 Gm Gold 22 Kt: Rs 14,750.001 Gm Gold 18 Kt: Rs 12,310.001 Gm Silver: Rs 300.00

During the previous week, gold futures on the Multi Commodity Exchange (MCX) advanced by Rs 6,017, or 3.94 per cent, ending at Rs 1.58 lakh per 10 grams.Silver futures too posted gains, rising Rs 9,964, or 3.8 per cent, to settle at Rs 2.71 lakh per kilogram.

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1 Gm Gold 22 Kt - Rs 14,825

1 Gm Gold 24 Kt - Rs 16,175

Silver spot (in Rs per kilo) : 270221.00

Standard gold (99.5) : 158271.00

Pure gold (99.9) : 158907.00

Traders are increasingly pricing in a possible US interest rate increase later this year as higher energy prices continue to drive inflation concerns.
According to CME FedWatch data, markets are assigning around a 40% probability of a rate hike in December.

1 Gm Gold 22 Kt - Rs 14,750
1 Gm Gold 24 Kt - Rs 16,090

1 Gm Gold 22 Kt: Rs 14,750.00

1 Gm Gold 18 Kt: Rs 12,310.00

1 Gm Silver: Rs 300.00

During the previous week, gold futures on the Multi Commodity Exchange (MCX) advanced by Rs 6,017, or 3.94 per cent, ending at Rs 1.58 lakh per 10 grams.

Silver futures too posted gains, rising Rs 9,964, or 3.8 per cent, to settle at Rs 2.71 lakh per kilogram.