Gold Rate In India After Rs 35,500 Crash: Know 24K, 22K, 18K Gold Prices, Weekly Outlook For May 18 To May 24

Gold rates in India are unchanged on Saturday, and a similar performance is expected on May 18, Sunday. Yellow metal took a breather during the weekend after crashing by Rs 35,500 in 24 carat of 100 grams, while 10-gram gold price slipped by Rs 3,500 from May 12-16, owing to easing in geopolitical tensions. In the trading week ahead, gold and silver can trade in a range of 88000-95000 level and 91000-98000 level respectively.

"Gold and silver prices declined last week, with gold falling over 3.5% and silver down by 1%, hitting their lowest levels in nearly a month. The drop was driven by easing global trade tensions and improved investor sentiment, which reduced demand for traditional safe-haven assets," wrote SMC Global Securities analysts in a note.

Weekly Outlook On Gold, and Silver Prices For May 18-25:

According to the analyst, the temporary 90-day tariff truce between the US and China played a key role in calming markets. As part of the agreement, the US will cut tariffs on Chinese goods from 145% to 30%, while China will reduce tariffs on US imports from 125% to 10%. This significant rollback signals a mutual willingness to de-escalate the trade war and pursue compromise.

It explained further that geopolitical tensions also eased, with the India-Pakistan ceasefire holding, though Russia-Ukraine negotiations have shown signs of stalling, keeping some underlying uncertainty alive.

On the economic front, the note added, US inflation data came in softer than expected, with the annual CPI easing to 2.3% in April-its lowest since February 2021 and below market expectations of 2.4%. This reinforces hopes that the Federal Reserve may cut rates at least twice this year. However, Fed Chair Jerome Powell cautioned that inflation may become more volatile due to frequent supply shocks, potentially complicating monetary policy.

Despite falling prices, SMC's note said, investor demand for gold remained strong, with gold ETFs seeing net inflows of 115 tons in April, the highest in over three years, driven largely by Chinese investors.

Gold Prices In India:

On May 17th, 100 grams of gold will be priced at Rs 951,300 in 24 carat, Rs 713,500 in 18 carat, and Rs 872,000 in 22 carat. Furthermore, the price of 10 grams of gold will be Rs 95,130 for 24 carats, Rs 87,200 for 22 carats, and Rs 71,350 for 18 carats.

The gold prices are expected to be the same on May 18.

Notably, 24-carat gold prices were down by Rs 32,200 in 100 grams on May 12, while prices were down by Rs 5,400 on May 14 and lower by Rs 21,300 on May 15. The gold price of 100 grams surged by Rs 11,400 and Rs 12,000 on May 13 and May 16. However, overall, the week saw the biggest selling of May 2025.

Accordingly, from May 12 to May 16, the price of 100 grams of gold plunged by Rs 35,500, and it was down by Rs 3,550 for 10 grams of 24 carats after considering both rises and falls.

Overall, in May, gold prices are down by 1% across carats.

Gold Prices In Major Cities:

Silver Prices In India:

Following the trend in gold, and silver prices also took a significant hit last week. 1kg silver price plunged by 100 on May 12, followed by a decline of Rs 1,000 on May 13, and another fresh decline of Rs 900 on May 15. Silver prices were unchanged on May 14, May 16, and May 17.

At present, 1kg of silver price is at Rs 97,000, while 100 grams and 10 grams of silver are available at Rs 9,700 and Rs 970 respectively.

MCX Gold, Silver Price;

Last week, on May 16, MCX gold price, with June 2025 expiry, stood at Rs 92,480 per 10 grams, down by Rs 689 or 0.74%.

While MCX silver with July 2025 expiry, stood at Rs 95,297 per 1kg, down by Rs 618 or 0.6%.

Spot Gold Price:

Gold slipped to around $3,200 per ounce on Friday, on track for a weekly loss of over 3%, as easing global trade tensions weakened its appeal as a safe haven. The US and China had recently agreed to temporarily reduce tariffs for 90 days, soothing concerns about the prolonged fallout from their trade conflict. Geopolitical risks also appeared to subside, with the India-Pakistan truce holding steady. However, progress in negotiations between Russia and Ukraine showed signs of stalling, as per Trading Economics data.

For the coming week, SMC's note said on the technical, COMEX gold failed to sustain below $3200. A break below this level may open the door toward $3000, while resistance lies near $3295. Silver is expected to trade within a range of $30-$34. In the domestic market, MCX Gold may move between ₹90,500-₹96,000, while Silver could range from ₹91,800-₹97,500 in the upcoming week.