Noida, May 17 (APAC Media): Gold and silver prices remained firm across major Indian cities on Sunday, May 17, amid continued volatility in the global bullion market and sustained domestic demand for precious metals.
According to market data, the retail price of 24-carat gold in Delhi was quoted at around Rs 15,900 per gram, while 22-carat gold traded near Rs 14,600 per gram.
Similar trends were recorded in Mumbai, Chennai, Kolkata, and Bengaluru, with marginal differences due to local taxes and jewellers’ charges.
Gold, Silver Prices Today: City-wise Retail Rates on May 17
| City | 24K Gold (10 gm) | 22K Gold (10 gm) | Silver (1 kg) |
|---|---|---|---|
| Delhi | ₹159,000 | ₹145,800 | ₹290,000 |
| Mumbai | ₹156,930 | ₹143,850 | ₹288,000 |
| Chennai | ₹157,400 | ₹144,300 | ₹291,500 |
| Kolkata | ₹156,800 | ₹143,700 | ₹289,000 |
| Bengaluru | ₹157,100 | ₹144,000 | ₹290,500 |
| Hyderabad | ₹157,250 | ₹144,150 | ₹290,800 |
In Mumbai, 24K gold was priced at approximately Rs 15,693 per gram and 22K gold at Rs 14,385 per gram. Silver prices also remained elevated, trading close to Rs 2.9 lakh per kilogram in several cities after witnessing sharp fluctuations earlier this week.
Bullion dealers said prices continued to react to international market cues, including movements in the US dollar, geopolitical tensions, and expectations around global interest rates. Investors have increasingly turned to gold and silver as safe-haven assets amid uncertainty in financial markets.
Domestic bullion rates have also been impacted by recent government measures aimed at curbing imports of precious metals.
The Centre recently increased import duties on gold and silver from 6 per cent to 15 per cent in an effort to reduce pressure on foreign exchange reserves and contain rising imports.
Govt Restricts Silver Imports to Curb Forex Outflows, Support Rupee
The duty hike triggered a sharp jump in local bullion prices, prompting jewellers and traders to closely monitor consumer demand ahead of the upcoming festive and wedding seasons.
Industry experts said higher prices may temporarily affect retail purchases, though long-term investment demand for gold is expected to remain strong.
Analysts noted that silver demand has also received support from industrial buying, particularly from sectors linked to electronics and renewable energy.
Market participants expect bullion prices to remain volatile in the near term due to changing global economic conditions and currency fluctuations.
Experts advised consumers and investors to track daily price movements carefully before making fresh purchases, especially as international developments continue to influence domestic bullion markets.
Disclaimer:
Gold prices and rates are for informational purposes only. APAC Media is not liable for any discrepancies or financial decisions made based on this data. Please consult an authorised advisor before making investment choices.
Also Read:
Govt Restricts Silver Imports to Curb Forex Outflows, Support Rupee
Discussion about this post