MCX Gold & Silver Prices Today (May 24, 2026): Gold Near ₹1.62 Lakh, Silver Trades Above ₹2.70 Lakh Amid Global Tensions

India’s precious metals market is witnessing one of its most volatile phases in recent years as MCX gold prices near ₹1.62 lakh per 10 grams and silver prices remain above ₹2.70 lakh per kilogram amid escalating geopolitical tensions, rising import duties, and rupee weakness.

The sharp rally in bullion prices comes after the Indian government increased bullion import duty from 6% to 15%, while ongoing tensions in West Asia, rising crude oil prices, and safe-haven demand continue to push global precious metal prices higher.

The latest surge has significantly impacted jewellery demand, investment flows, wedding purchases, and industrial silver consumption across India.

MCX Gold & Silver Prices Today

As of May 24, 2026, benchmark bullion prices in India are trading near record highs.

Current MCX Bullion Price Snapshot

Commodity	Current Price
MCX Gold (24K / 10g)	₹1,61,000 – ₹1,62,000
22K Gold (10g)	₹1,48,000 – ₹1,49,000
Silver 999 (1kg)	₹2.65 Lakh – ₹2.75 Lakh

The rally reflects strong global safe-haven buying along with elevated domestic taxation and logistics costs.

State-Wise Gold & Silver Prices in India Today

Gold and silver prices continue to vary across Indian states because of differences in:

• Logistics Costs
• Local Bullion Premiums
• Jeweller Margins
• Demand Density
• Inventory Handling Costs

India Gold & Silver Price List Today (May 24, 2026)

State / Region	24K Gold (10g)	22K Gold (10g)	Silver (1kg)
Delhi NCR	₹1,61,900	₹1,48,400	₹2,69,000
Maharashtra	₹1,61,750	₹1,48,250	₹2,68,500
Karnataka	₹1,62,200	₹1,48,900	₹2,70,500
Telangana	₹1,62,350	₹1,49,000	₹2,71,500
Tamil Nadu	₹1,62,500	₹1,49,100	₹2,71,000
Kerala	₹1,62,700	₹1,49,300	₹2,72,000
Gujarat	₹1,61,450	₹1,47,950	₹2,67,500
Rajasthan	₹1,61,950	₹1,48,500	₹2,69,500
Uttar Pradesh	₹1,62,100	₹1,48,700	₹2,70,000
Bihar	₹1,62,600	₹1,49,200	₹2,72,500
West Bengal	₹1,61,600	₹1,48,150	₹2,68,000
Punjab	₹1,61,850	₹1,48,350	₹2,69,000
Andhra Pradesh	₹1,62,300	₹1,49,050	₹2,71,200
Madhya Pradesh	₹1,62,000	₹1,48,600	₹2,69,800
Assam	₹1,62,250	₹1,48,850	₹2,70,800

Gold & Silver Prices in Major Indian Cities

Major metro cities are witnessing elevated bullion rates because of strong jewellery demand, higher retail premiums, and regional logistics costs.

Major City-Wise Gold & Silver Rates

City	24K Gold (10g)	22K Gold (10g)	Silver (1kg)
Mumbai	₹1,61,750	₹1,48,250	₹2,68,500
Delhi	₹1,61,900	₹1,48,400	₹2,69,000
Bengaluru	₹1,62,200	₹1,48,900	₹2,70,500
Hyderabad	₹1,62,350	₹1,49,000	₹2,71,500
Chennai	₹1,62,500	₹1,49,100	₹2,71,000
Kolkata	₹1,61,600	₹1,48,150	₹2,68,000
Ahmedabad	₹1,61,450	₹1,47,950	₹2,67,500
Jaipur	₹1,61,950	₹1,48,500	₹2,69,500
Kochi	₹1,62,700	₹1,49,300	₹2,72,000
Lucknow	₹1,62,100	₹1,48,700	₹2,70,000
Chandigarh	₹1,61,850	₹1,48,350	₹2,69,000
Patna	₹1,62,600	₹1,49,200	₹2,72,500

Why Gold & Silver Prices Are Rising in India

The recent surge in bullion prices is being driven by multiple global and domestic factors.

Key Drivers Behind the Rally

Factor	Impact on Prices
West Asia Geopolitical Tensions	Strong Safe-Haven Buying
Import Duty Hike to 15%	Sharp Domestic Price Inflation
Weak Indian Rupee	Higher Import Costs
Rising Crude Oil Prices	Increased Freight & Logistics Costs
Central Bank Gold Buying	Strong Global Demand Support
Wedding & Festive Demand	Elevated Retail Premiums

How Gold Prices Are Calculated in India

Retail gold prices in India include multiple layers of taxation, logistics, and dealer margins.

Gold Price Calculation Structure

Component	Approximate Cost
International Spot Gold Value	₹1,24,000
Rupee Depreciation Impact	₹5,000
Import Duty (15%)	₹19,350
Agriculture Infrastructure Cess	₹3,000
Refining & Logistics	₹2,500
Dealer Margin	₹1,200
Jeweller Margin	₹3,500
GST (3%)	₹4,700
Final Retail Price	₹1.61 – ₹1.62 Lakh

Silver Prices Continue to Surge

Silver prices remain extremely volatile because silver acts as both:

• An Inflation Hedge
• An Industrial Metal

Demand from sectors such as:

• Solar Manufacturing
• Electronics
• EV Components
• Electrical Equipment

continues supporting silver prices globally.

Silver Retail Price Breakdown

Component	Approximate Cost
Global Silver Benchmark	₹2,10,000
Currency & Import Impact	₹20,000
Import Duty & Levies	₹28,000
Refining Costs	₹5,500
Dealer Margins	₹6,500
GST	₹7,500
Final Retail Price	₹2.68 – ₹2.72 Lakh

Gold Price Heat Map Across India

Lowest to Highest Gold Prices

LOWEST PRICE ZONES                                  HIGHEST PRICE ZONES

Ahmedabad     ₹1,61,450  ████████████████
Kolkata       ₹1,61,600  █████████████████
Mumbai        ₹1,61,750  █████████████████
Delhi         ₹1,61,900  ██████████████████
Bengaluru     ₹1,62,200  ███████████████████
Hyderabad     ₹1,62,350  ████████████████████
Chennai       ₹1,62,500  █████████████████████
Patna         ₹1,62,600  ██████████████████████
Kochi         ₹1,62,700  ███████████████████████

Silver Price Heat Map Across India

LOWEST PRICE ZONES                                  HIGHEST PRICE ZONES

Ahmedabad     ₹2,67,500  ███████████████
Mumbai        ₹2,68,500  ████████████████
Delhi         ₹2,69,000  █████████████████
Jaipur        ₹2,69,500  ██████████████████
Lucknow       ₹2,70,000  ███████████████████
Chennai       ₹2,71,000  █████████████████████
Patna         ₹2,72,500  ███████████████████████

Inflation Impact of Rising Bullion Prices

The rise in precious metal prices is now creating broader inflationary pressure across India.

Gold Price Impact

• Wedding Costs Rising
• Higher Jewellery Prices
• Increased Pawn Lending Activity
• Shift Toward Lightweight Jewellery

Silver Price Impact

• Higher Solar Manufacturing Costs
• Rising Electronics Input Costs
• Industrial Production Inflation
• Increased Electrical Equipment Pricing

MCX Gold & Silver Price Outlook

Analysts expect bullion prices to remain volatile over the coming weeks because of:

• Crude Oil Price Instability
• Rupee Weakness
• Global Geopolitical Risks
• Safe-Haven Demand

Near-Term Price Forecast

Commodity	Expected Range
Gold	₹1.55 Lakh – ₹1.68 Lakh
Silver	₹2.55 Lakh – ₹2.90 Lakh

Analyst View

Gold in India is increasingly behaving like a geopolitical hedge rather than just a jewellery commodity, while silver continues to attract strong industrial and investment demand simultaneously.

Unless geopolitical tensions cool sharply, crude oil prices stabilize, and the rupee strengthens meaningfully, India’s bullion market is likely to remain structurally elevated and highly volatile through the coming quarter.

What is the MCX gold price today?

MCX gold prices are currently trading near ₹1.61 lakh to ₹1.62 lakh per 10 grams.

What is the silver price in India today?

Silver prices in India are trading between ₹2.65 lakh and ₹2.75 lakh per kilogram.

Why are gold prices rising in India?

Gold prices are rising due to geopolitical tensions, import duty hikes, rupee weakness, and strong safe-haven demand.

Which city has the highest gold price today?

Kochi and Patna are currently among the highest-priced bullion markets in India.

Why do gold prices vary between cities?

Prices vary because of local taxes, logistics costs, jeweller premiums, and regional demand patterns.

What is the current import duty on gold in India?

India currently imposes a 15% import duty on bullion.

Why is silver becoming expensive?

Silver prices are rising because of strong industrial demand from solar, EV, and electronics sectors.

Can gold prices cross ₹1.70 lakh?

If geopolitical tensions escalate further and the rupee weakens more, gold prices could move closer to ₹1.70 lakh.

Which state has the cheapest gold prices today?

Ahmedabad and Gujarat currently have some of the lowest bullion prices in India.

Is this a good time to buy gold?

Bullion markets remain highly volatile, and buying decisions depend on investment horizon, inflation expectations, and risk appetite.