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- Gold, Silver Rate Highlights: Gold prices set for second straight week of decline
THE TIMES OF INDIA | May 22, 2026, 21:57:51 IST
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Gold, Silver Rate Highlights: Gold prices set for second straight week of decline
Gold, Silver Rate Today Live Updates: Gold prices in the international market are set for a second straight week of decline as the precious metal sees range-bound movement in the absence of clarity on the US-Iran conflict and high crude oil prices.
Gold prices have continued to witness sharp fluctuations since the central government increased the import duty on precious metals to 15% last week. Following the announcement, gold recorded a steep single-day jump of Rs 8,550, reaching Rs 1,65,350 per 10 grams.
In the sessions that followed, prices moved inconsistently between gains and declines. Track TOI’s live coverage on gold and silver prices:
Gold prices have continued to witness sharp fluctuations since the central government increased the import duty on precious metals to 15% last week. Following the announcement, gold recorded a steep single-day jump of Rs 8,550, reaching Rs 1,65,350 per 10 grams.
In the sessions that followed, prices moved inconsistently between gains and declines. Track TOI’s live coverage on gold and silver prices:
LIVE RATES · INDIA
10:00:03 pm
21:57 (IST) May 22
Gold Rate Today Live: Why gold prices witnessed slight decline on Friday?
Gold prices witnessed a slight decline on Friday. The recent fluctuations in the bullion market are largely influenced by ongoing geopolitical tensions, particularly concerning US-Iran relations, alongside the volatility of the Indian rupee and movements in crude oil prices, Gaurav Garg, Research Analyst at Lemonn Markets Desk, said.
20:25 (IST) May 22
Import duty hike to decrease India's gold demand by 50-60 tn in 2026
India's gold demand is expected to contract by 50-60 tonnes this calendar year, around 10 per cent lower than the previous year, following the import duty hike, according to the World Gold Council (WGC).
"Looking at 2026 as a whole, we estimate that combined jewellery and bar and coin demand could decline by around 50-60 tonnes, around 10 per cent lower than the previous year, due to the impact of the import duty hike," WGC said in its India gold market update.
The gold import duty was raised sharply from 6 per cent to 15 per cent, making it the single-largest increase on record and fully reversing the duty cut of July 2024. The Prime Minister has also appealed to consumers to avoid buying gold for a year.
17:55 (IST) May 22
Gold drops to Rs 1.64 lakh/10g as Iran talks temper market anxiety
Gold prices retreated by Rs 600 to Rs 1.64 lakh per 10 grams in the national capital on Friday as tentative progress in US-Iran negotiations reduced precious metals buying, though unresolved tensions around the Strait of Hormuz kept traders cautious.
Snapping a three-day winning streak, the yellow metal of 99.9 per cent purity depreciated by Rs 600 to Rs 1,64,900 per 10 grams (inclusive of all taxes), according to local marketmen.
16:56 (IST) May 22
Silver futures slip up to 1.13% on MCX amid weak sentiment
Silver futures traded lower on May 22, with benchmark contracts on MCX extending losses across expiries. The July 2026 contract fell 1.13% to Rs 2,71,771 per kg after moving in a range of Rs 2,71,567–2,75,225 during the session. The September contract declined 1.00% to Rs 2,78,043, while the December contract bucked the trend with a 0.56% gain.
15:05 (IST) May 22
MCX gold prices fall up to 0.48% across contracts amid weak global cues
Gold futures traded lower across major MCX contracts on May 22, reflecting cautious investor sentiment amid weak global cues and pressure on bullion prices. The June 2026 gold futures contract fell Rs 679, or 0.43%, to Rs 1,58,927 per 10 grams after touching an intraday low of Rs 1,58,816. The August contract declined Rs 780, or 0.48%, to Rs 1,61,560, while the October contract slipped Rs 530, or 0.32%, to Rs 1,64,860. Trading volumes remained active across contracts as investors tracked movements in the dollar index, Treasury yields, and expectations around global monetary policy.
14:30 (IST) May 22
Gold Rate Today: Mumbai bullion opening rates
Silver spot (in Rs per kilo) : 267433.00
Standard gold (99.5): 157720.00
Pure gold (99.9) : 158354.00
Standard gold (99.5): 157720.00
Pure gold (99.9) : 158354.00
13:26 (IST) May 22
Gold Rate Today: Gold futures decline
Gold prices declined by Rs 521 on Friday in futures trading as weaker demand in the spot market weighed on sentiment.
On the Multi Commodity Exchange (MCX), gold contracts scheduled for June delivery slipped Rs 521, or 0.33%, to trade at Rs 1,59,085 per 10 grams, with a business turnover of 790 lots.
Market analysts said the decline in domestic gold prices was mainly influenced by subdued global market signals.
In the international market, gold futures in New York fell 0.55% to USD 4,517.94 per ounce.
On the Multi Commodity Exchange (MCX), gold contracts scheduled for June delivery slipped Rs 521, or 0.33%, to trade at Rs 1,59,085 per 10 grams, with a business turnover of 790 lots.
Market analysts said the decline in domestic gold prices was mainly influenced by subdued global market signals.
In the international market, gold futures in New York fell 0.55% to USD 4,517.94 per ounce.
11:02 (IST) May 22
Gold Rate Today: Gold prices subdued
Gold prices were subdued as the US dollar firmed and Treasury yields edged higher, although hopes for diplomatic progress in the Middle East continued to lend underlying support to bullion. Market sentiment steadied after reports suggested that US and Iran had reached the final draft of a peace agreement mediated by Pakistan.
The proposed framework includes an immediate ceasefire across all fronts, guaranteed freedom of navigation through the Gulf and Strait of Hormuz, and start of formal negotiations on unresolved issues within a week. However, conviction across financial markets remained limited as traders awaited official confirmation and clarity on the final terms of the agreement.
Conflicting headlines from Iran also kept uncertainty elevated, with earlier reports claiming Supreme Leader Ayatollah Mojtaba Khamenei had ordered Iran’s near weapons-grade uranium stockpile to remain in the country, although Tehran later denied the report and called it “propaganda.” Meanwhile, Iran continued tightening its control over the Strait of Hormuz by introducing a new permit system for vessels crossing the waterway, while discussions with Oman over a permanent maritime toll mechanism highlighted the long-term strategic implications of the conflict. Minutes from the latest FOMC meeting showed policymakers were open to rate hikes if energy-driven inflation remains persistent above the Fed’s 2% target.
Markets now remain focused on official confirmation of the proposed agreement and upcoming US economic data for further direction. Manufacturing PMI data was reported better than the Services PMI in the yesterdays’ release. Focus today will be on US Michigan consumer sentiment, says Manav Modi Commodities Analyst Motilal Oswal Financial Services Ltd.
The proposed framework includes an immediate ceasefire across all fronts, guaranteed freedom of navigation through the Gulf and Strait of Hormuz, and start of formal negotiations on unresolved issues within a week. However, conviction across financial markets remained limited as traders awaited official confirmation and clarity on the final terms of the agreement.
Conflicting headlines from Iran also kept uncertainty elevated, with earlier reports claiming Supreme Leader Ayatollah Mojtaba Khamenei had ordered Iran’s near weapons-grade uranium stockpile to remain in the country, although Tehran later denied the report and called it “propaganda.” Meanwhile, Iran continued tightening its control over the Strait of Hormuz by introducing a new permit system for vessels crossing the waterway, while discussions with Oman over a permanent maritime toll mechanism highlighted the long-term strategic implications of the conflict. Minutes from the latest FOMC meeting showed policymakers were open to rate hikes if energy-driven inflation remains persistent above the Fed’s 2% target.
Markets now remain focused on official confirmation of the proposed agreement and upcoming US economic data for further direction. Manufacturing PMI data was reported better than the Services PMI in the yesterdays’ release. Focus today will be on US Michigan consumer sentiment, says Manav Modi Commodities Analyst Motilal Oswal Financial Services Ltd.
11:01 (IST) May 22
Gold Rate Today: MCX Gold, Silver dip
Gold and silver prices began Friday’s trading session lower on the Multi Commodity Exchange (MCX), pressured by a stronger US dollar and higher crude oil prices, which strengthened market expectations of additional interest rate hikes by the US Federal Reserve.
In the domestic futures market, MCX silver contracts for July 2026 delivery declined by Rs 1,617, or 0.6%, to Rs 2,73,266 per kilogram. Meanwhile, gold futures for June 2026 delivery slipped Rs 800 to Rs 1,58,816 per 10 grams. In the previous trading session, both precious metals had ended with marginal gains.
The US dollar remained close to a six-week high, making bullion priced in dollars costlier for investors holding other currencies. At the same time, uncertainty surrounding the Iran conflict continued to keep market sentiment tense. While recent remarks from the United States indicated that an agreement could be nearing, reports suggesting that Iran intends to retain its enriched uranium within the country have once again raised fears that the conflict could continue for longer, potentially extending disruptions in global oil supplies.
In the domestic futures market, MCX silver contracts for July 2026 delivery declined by Rs 1,617, or 0.6%, to Rs 2,73,266 per kilogram. Meanwhile, gold futures for June 2026 delivery slipped Rs 800 to Rs 1,58,816 per 10 grams. In the previous trading session, both precious metals had ended with marginal gains.
The US dollar remained close to a six-week high, making bullion priced in dollars costlier for investors holding other currencies. At the same time, uncertainty surrounding the Iran conflict continued to keep market sentiment tense. While recent remarks from the United States indicated that an agreement could be nearing, reports suggesting that Iran intends to retain its enriched uranium within the country have once again raised fears that the conflict could continue for longer, potentially extending disruptions in global oil supplies.
08:15 (IST) May 22
Silver Rate Today: Spot silver prices drop
Spot silver dropped 0.5% to $76.32 per ounce, platinum declined 0.3% to $1,959.20, while palladium remained largely unchanged at $1,377.89 per ounce.
08:15 (IST) May 22
Gold Rate Today: All eyes on Fed
Thomas Barkin, President of the Richmond Federal Reserve, said on Thursday that the response of businesses and consumers to continuing economic disruptions would determine whether the US Federal Reserve can overlook current inflation levels or may need to raise interest rates further.
Fresh economic data showed that new unemployment benefit claims in the United States declined last week, reflecting continued strength in the labor market and allowing the Federal Reserve more flexibility to focus on rising inflation pressures linked to the conflict with Iran.
According to CME Group’s FedWatch tool, markets are currently factoring in the possibility of a Federal Reserve rate hike before the end of the year, with a 60% probability of an increase by December.
Fresh economic data showed that new unemployment benefit claims in the United States declined last week, reflecting continued strength in the labor market and allowing the Federal Reserve more flexibility to focus on rising inflation pressures linked to the conflict with Iran.
According to CME Group’s FedWatch tool, markets are currently factoring in the possibility of a Federal Reserve rate hike before the end of the year, with a 60% probability of an increase by December.
08:15 (IST) May 22
Gold Rate Today: Oil prices stay high
US Secretary of State Marco Rubio stated that negotiations with Iran had shown “some good signs,” although disagreements continued over Tehran’s uranium reserves and authority over the Strait of Hormuz.
US crude oil futures jumped by more than $1 in early Friday trading as investors remained doubtful about the chances of a major breakthrough in the ongoing peace discussions.
US crude oil futures jumped by more than $1 in early Friday trading as investors remained doubtful about the chances of a major breakthrough in the ongoing peace discussions.
08:15 (IST) May 22
Gold Rate Today: International gold prices set to end week with losses
Gold prices moved lower on Friday and were set to record a second straight weekly decline, as stronger crude oil prices and growing worries over inflation and tighter interest rates weakened investor interest in the precious metal.
Spot gold slipped 0.2% to $4,534.29 per ounce by 0047 GMT. So far this week, the metal has declined around 0.1%.
US gold futures for June delivery eased 0.1% to $4,535.60 per ounce.
Spot gold slipped 0.2% to $4,534.29 per ounce by 0047 GMT. So far this week, the metal has declined around 0.1%.
US gold futures for June delivery eased 0.1% to $4,535.60 per ounce.
08:14 (IST) May 22
Gold Rate Today: Domestic market round-up for Thursday
Gold and silver prices moved slightly higher in the spot market on Thursday as traders maintained a cautiously positive outlook amid ongoing tensions between the US and Iran, while elevated global crude oil prices continued to fuel inflation concerns.
In Delhi’s spot market, gold with 99.9% purity extended its gains for a third consecutive session, increasing by Rs 600 to reach Rs 1,65,500 per 10 grams, inclusive of all taxes, according to local traders.
Saumil Gandhi said gold remained firm on Thursday after recovering from recent lows, supported by improving optimism surrounding diplomatic discussions between the US and Iran, which helped strengthen sentiment in the bullion market.
He further noted that investor sentiment improved as expectations rose that ongoing negotiations between the two countries could ease geopolitical tensions in the Middle East.
Silver prices also rebounded after falling for two straight sessions, rising Rs 5,000 to Rs 2,71,000 per kilogram as investors returned to the metal following the recent sharp decline, according to market participants. Additional support for silver came from softer US Treasury bond yields.
In Delhi’s spot market, gold with 99.9% purity extended its gains for a third consecutive session, increasing by Rs 600 to reach Rs 1,65,500 per 10 grams, inclusive of all taxes, according to local traders.
Saumil Gandhi said gold remained firm on Thursday after recovering from recent lows, supported by improving optimism surrounding diplomatic discussions between the US and Iran, which helped strengthen sentiment in the bullion market.
He further noted that investor sentiment improved as expectations rose that ongoing negotiations between the two countries could ease geopolitical tensions in the Middle East.
Silver prices also rebounded after falling for two straight sessions, rising Rs 5,000 to Rs 2,71,000 per kilogram as investors returned to the metal following the recent sharp decline, according to market participants. Additional support for silver came from softer US Treasury bond yields.
Gold, Silver Rate Today Live Updates: JPMorgan has recently revised its average gold price estimate for 2026 downward to $5,243 per ounce from the earlier forecast of $5,708. The bank cited weaker near-term demand, noting that investor interest in the metal had faded considerably.
In a note released on Sunday, JPMorgan analysts said the slowdown was visible across multiple indicators, including subdued trading activity and stagnant demand trends. They pointed out that aggregate open interest and trading volumes in COMEX gold futures had stayed weak, managed money positioning had remained stuck at lower levels, and ETF inflows had been limited.
The downgrade followed a similar move by ANZ last week, when the bank lowered its year-end gold price target to $5,600 per ounce. ANZ said higher inflation expectations, rising bond yields and continued dollar strength were likely to keep bullion prices under pressure.
Even so, JPMorgan maintained a positive long-term view on gold, projecting prices to move closer to $6,000 per ounce by the end of 2026 as demand is expected to improve during the second half of the year.
(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.)
In a note released on Sunday, JPMorgan analysts said the slowdown was visible across multiple indicators, including subdued trading activity and stagnant demand trends. They pointed out that aggregate open interest and trading volumes in COMEX gold futures had stayed weak, managed money positioning had remained stuck at lower levels, and ETF inflows had been limited.
The downgrade followed a similar move by ANZ last week, when the bank lowered its year-end gold price target to $5,600 per ounce. ANZ said higher inflation expectations, rising bond yields and continued dollar strength were likely to keep bullion prices under pressure.
Even so, JPMorgan maintained a positive long-term view on gold, projecting prices to move closer to $6,000 per ounce by the end of 2026 as demand is expected to improve during the second half of the year.
(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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