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

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.

1 Gm Gold 24 Kt - Rs 16,175

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

1 Gm Gold 22 Kt - Rs 14,750

1 Gm Gold 24 Kt - Rs 16,090

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.