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Gold and silver prices have been updated for May 24 across major Indian cities. Precious metal prices remain under pressure, followed by international economic uncertainty and changing investor sentiment. In the retail market, gold is sold in 24-karat and 22-karat purity. While 24-karat gold is considered the purest form, 22-karat is commonly used for making jewellery as it's more solid in nature.
Gold price in India's retail market remained largely stable on Sunday (May 24, 2026). Both 24-karat and 22-karat gold rates have witnessed marginal changes across major cities. Silver prices also showed limited movement in the domestic bullion market.
The price of 24-karat gold in India stood at Rs. 159,340 per 10 grams at 8.30 am on Saturday. Meanwhile, 22-karat gold was priced at Rs. 146,062 per 10 grams in the physical bullion. Silver 999 Fine was priced at Rs. 272,270 per 1 kg, according to the data available on the Indian Bullion Association (IBA).
Multi-Commodity Exchange of India (MCX) is closed on Saturdays and Sundays, hence live trading rates are currently unavailable. Based on Friday's closing level, gold continued to trade above Rs. 1.5 lakh, although it edged lower compared to the past few trading sessions.
Also Read: Gold Price Today: MCX Gold Declined Amid Stronger Dollar and Inflation Concerns
Gold pricing in India is determined by both global and local factors. The international price of gold, the US Dollar’s strength, and local jewelry consumption, especially around holidays, all determine gold’s intrinsic value. Consequently, the buyer in India must contend with listings that vary with broader economic and seasonal market factors.
In India, the yellow metal climbed from Rs. 135,257 in early January to Rs. 157,480 in early March, marking an appreciation of around 16%. In May, it again saw a significant rise after the duty hike.
Meanwhile, silver prices have seen even steeper increases with strong demand and currency fluctuations, rising from roughly Rs. 78,600/kg in 2023-2024 to over Rs. 200,000/kg in early 2026.
Disclaimer: Gold prices mentioned in the article are based on rates available at the time of publication. Prices may vary at the time of purchase amid market fluctuations and regional differences.
