Gold, Silver Prices Today, May 21: MCX Gold, Silver Slip; Check 24K, 22K Rates In Delhi, Mumbai, Chennai And More Cities

Gold and Silver Prices Today, May 21, 2026: Prices of gold and silver moved slightly lower on May 21. They also reacted to falling prices of international bullion and declined with softer futures movement on the Multi Commodity Exchange (MCX). The metals, however, traded at higher levels than they had previously. In Mumbai, 24-carat gold traded at Rs 1,58,360 for 10 grams, while 22-carat gold was at Rs 1,45,160 for 10 grams. These rates exclude GST and making charges.

Meanwhile, MCX futures also remained under pressure. Gold futures for June 5 delivery slipped 0.12%, while silver futures recorded a sharper decline.

Gold Price Today: MCX Gold Trades Lower

At around 10 AM, MCX gold was trading at ₹1,59,402 per 10 grams, down ₹600.

MCX Gold Snapshot

MCX June gold contracts earlier traded at ₹1,59,815 per 10 grams, down 0.12%.

Silver Price Today: MCX Silver Extends Losses

Silver prices also remained weak. At 10 AM, MCX silver traded at ₹2,71,275 per kg, down ₹2,990.

MCX Silver Snapshot

MCX silver futures were earlier down 0.53% at ₹2,72,800 per kg.

Gold Rates Today Across Major Indian Cities

(Market rates; prices exclude GST and making charges.)

Silver Rate Today In Major Indian Cities

Why Are Gold Prices Falling?

Gold prices fall in the market today after logging the second straight day of loss. Reasons behind today’s fall in the price of yellow metal are taking profits by investors after gold rose yesterday and ongoing unstable global economic market conditions. Gold traded at the world market at the rate of $ 4534.69 an ounce and has fallen 0.2 per cent. In the US, gold futures for June were trading down at $ 4536.70 an ounce.

The price of gold is also influenced by the US interest rate outlook. Fed funds futures are assigning increasing bets that the central bank would maintain a tighter stance for longer, with CME FedWatch indicating there could be a rate hike later in the year, including in December. Higher rates also turn less attractive for holding on to non-interest-yielding gold.

Geopolitical tensions are also making traders anxious. US President Donald Trump stated that the negotiations with Iran are coming into the final stage but warned there could be further action if negotiations fail, which brought more uncertainty for commodity markets.

Duty Hike And Silver Import Curbs Remain In Focus

Domestic bullion sentiment is also adjusting to policy changes.

Effective May 13, India raised import duty on gold and silver from 6% to 15%, while platinum duty was increased to 15.4%.

Separately, on May 16, the government tightened import norms for select silver categories. The Directorate General of Foreign Trade (DGFT) shifted certain silver bar imports from “Free” to “Restricted” status under India’s import policy framework. Selected silver imports will also remain subject to RBI regulations.

What Drives Gold Prices In India?

Multiple factors influence gold prices in India, including:

• International bullion prices
• Import duty and taxation
• Rupee-dollar exchange rate movement
• Inflation expectations
• Central bank policy outlook
• Wedding and festival demand at the domestic level

Volatility is returning to commodity markets again; thus, traders and buyers are observing global developments and the policy decisions of governments at the domestic level before making fresh positions.

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(Disclaimer: This article is for informational purposes only and should not be considered investment advice. The views, opinions, and recommendations expressed herein are those of the respective experts. Readers are advised to consult a qualified financial advisor before making any investment decisions.)