Gold & Silver Rates Today 22-05-2026 : Spot Gold & Silver Falls; MCX Precious Metals In Focus

Daily Update, Business

Gold rates and silver rates in India are in focus on May 22 after spot gold and spot silver dropped by approximately 1% due to conflicting signals around US-Iran peace negotiations. Also, crude oil prices climbed by 1-2% with US WTI Crude trading above $97 per barrel and Brent Crude near $105 per barrel. MCX gold and silver prices are struggling to retain above Rs 1.60 lakh and Rs 2.75 lakh mark as the sentiments are delicate and volatile.

In the latest development,

Iran said the latest proposal from US partially bridges the gap between the countries. However, in another course of action, Iran’s supreme leader ordered to keep their enriched uranium stockpile within their boundaries, which complicated negotiations. Apart from this, US’ key objective is for Iran to give up their nuclear dream.

Iran is also reported in talks with Oman on establishing a permanent toll system that would formalize its control over shipping traffic through the Strait of Hormuz, although President Donald Trump rejected the idea. Despite the recent stability, gold prices remain about 14% lower since the conflict began, amid worries that an energy-driven inflation shock could prompt central banks to tighten monetary policy, as per Trading Economics.

Gold and Silver Rates in India Today, May 22:

In Mumbai, the price of 24-carat gold stands at Rs 1,59,940 per 10 grams, while 22k gold is available at Rs 1,46,610 per 10 grams.

Gold and Silver Prices in India Today, May 22: Gold and silver prices in India declined on Friday, May 22. In Mumbai, the price of 24-carat gold stood at Rs 1,59,940 per 10 grams, while 22k gold was available at Rs 1,46,610 per 10 grams. These rates do not include GST and making charges.

On the MCX, gold prices fell by 0.15 percent to Rs 1,59,368 per 10 grams for June 5 contracts, while silver declined by 0.31 percent to Rs 2,74,036 per kg.

In the international market, spotted gold was down 0.4% at $4,522.89 per ounce by 0222 GMT. The metal was down about 0.3% for the week so far. US gold futures for June delivery lost 0.4% to $4,524.40.

The dollar held near a six-week high, making greenback-priced bullion more expensive for holders of other currencies. US Secretary of State Marco Rubio said there had been “some good signs” in talks with Iran, although Tehran’s uranium stockpile and control over the Strait of Hormuz remained sticking points.

Oil prices climbed as investors doubted the prospects of a breakout in US-Iran peace talks. Elevated oil prices stoke inflation risks and fears of interest rates staying higher for longer. Whereas gold is traditionally seen as a hedge against inflation, higher interest rates tend to weigh on the non-yielding metal.

Markets are pricing in a Fed rate hike before year-end, with a 60% chance of a move by December, according to CME Group’s FedWatch tool. US President Donald Trump will swear in Kevin Warsh as the Fed chairman on Friday at the White House, the Trump administration said.

How businesses and consumers react to ongoing economic shocks will determine if the Fed can “look through” current high inflation or needs to consider raising interest rates, Richmond Fed President Thomas Barkin said on Thursday.

Meanwhile, last week, PM Modi appealed to people to avoid buying gold for a year, in order to save foreign exchange reserves.

Following this, the government on Wednesday hiked import duty on gold and silver to 15 percent to curb non-essential imports amidst the West Asia crisis which has put pressure on forex reserves.

Effective May 13, import duty on gold and silver has been increased from 6 percent to 15 percent and that on platinum has been raised from 6.4 per cent to 15.4 per cent. Consequential changes have also been made to other items such as gold/silver dore, coins, findings, etc.

On May 16, the Center has tightened import rules for certain categories of silver bars by changing their import status from “Free” to “Restricted” with immediate effect, in a move that comes amid rising concerns over India’s import bill, pressure on the rupee, and global uncertainty linked to the ongoing West Asia crisis.

The Directorate General of Foreign Trade (DGFT), under the Ministry of Commerce and Industry, released a notification on Saturday, amending the import policy for specific categories of silver covered under Chapter 71 of the Indian Trade Classification (ITC) Harmonized System (HS) 2022 import policy schedule.

Under the revised policy, import of silver bars — containing 99.9 per cent or more silver by weight (ITC HS Code 71069221) and ‘Bar—Other’ categories (ITC HS Code 71069229) — which were previously freely importable subject to RBI regulations, will now be classified as “Restricted”.

Some categories of silver imports have also been brought under Reserve Bank of India regulations.

What Factors Affect Gold Prices In India?

International market rates, import duties, taxes, and fluctuations in exchange rates primarily impact gold prices in India. Together, these factors determine the daily gold rates across the country.

In India, gold is deeply cultural and financial. It is a preferred investment option and is key to celebrations, especially weddings and festivals.

With continuously changing market conditions, investors and traders monitor fluctuations closely. Staying updated is crucial for effectively navigating dynamic trends.

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 ignore 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 tied to the conflict with Iran.

According to CME Group’s FedWatch tool, markets are currently factoring in the probability of a Federal Reserve rate hike before the end of the year, with a 60% probability of an increase by December.