Gold prices came under pressure on the Multi Commodity Exchange (MCX) on Friday morning, as a firmer US dollar continued to weigh on the precious metal. Bullion has faced headwinds over the past two months in the wake of the US-Iran conflict, with elevated crude oil prices supporting the dollar and stoking fresh inflation worries.
According to reports, gold rates declined on the MCX amid subdued global cues, rising inflation concerns, and expectations that the US Federal Reserve might need to adopt a tighter monetary policy stance. MCX gold June futures were trading 0.21 per cent lower at ₹1,60,080 per 10 grams, while MCX silver July futures slipped 0.39 per cent to ₹2,74,480 per kg around 9:35 am.
Persistent uncertainty surrounding the Middle East situation has limited upside for gold. Market participants are closely watching developments in the region, as any truce between the US and Iran could ease oil prices and provide relief on the inflation front globally.
Oil prices, meanwhile, resumed their upward trajectory on Friday after a brief pause, as investors assessed mixed signals on Iran peace negotiations. Brent crude July futures rose 1.9 per cent to $104.52 a barrel in early Asian trade, while US West Texas Intermediate June futures advanced 1.5 per cent to $97.81 per barrel.
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In the domestic retail market, gold is available in 24-karat (pure) and 22-karat (commonly used for jewellery due to greater durability) forms. Here are the prevailing retail rates for 24-karat gold, 22-karat gold, and 999 fine silver across key Indian cities on May 22, 2026:
– Mumbai: 24-karat gold at ₹1,59,770 per 10 gm; 22-karat gold at ₹1,46,456 per 10 gm; 999 silver at ₹2,74,580 per kg.
– New Delhi: 24-karat gold at ₹1,59,490 per 10 gm; 22-karat gold at ₹1,46,199 per 10 gm; 999 silver at ₹2,74,100 per kg.
– Bengaluru: 24-karat gold at ₹1,59,890 per 10 gm; 22-karat gold at ₹1,46,566 per 10 gm; 999 silver at ₹2,74,790 per kg.
– Kolkata: 24-karat gold at ₹1,59,500 per 10 gm; 22-karat gold at ₹1,46,208 per 10 gm; 999 silver at ₹2,74,280 per kg.
– Hyderabad: 24-karat gold at ₹1,59,960 per 10 gm; 22-karat gold at ₹1,46,630 per 10 gm; 999 silver at ₹2,75,080 per kg.
– Chennai: 24-karat gold at ₹1,60,170 per 10 gm; 22-karat gold at ₹1,46,823 per 10 gm; 999 silver at ₹2,75,440 per kg.
These rates reflect local market conditions and may vary slightly depending on the jeweller and any applicable making charges or taxes. Investors and buyers are advised to check with local vendors for the most accurate quotes before making purchases.
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