Gold rates in India are expected to trade in a broad range on Monday, May 26th, after the 24-carat, 22-carat, and 18-carat gold rates were unchanged during the weekend. The price of 10 grams of gold is currently above Rs 98,000 in 24 carats and near Rs 96,500 at MCX for the June 2025 expiry. Last week, gold rates ended higher.
10-gram gold prices were unchanged at Rs 98,080 in 24 carats, Rs 89,900 in 22 carats, and Rs 73,560 in 18 carats on May 25th. With that, the 24-carat gold price is now Rs 1,520 away from hitting its all-time high price of Rs 99,600.
100 grams of gold is available at Rs 9,80,800 in 24 carat, Rs 8,99,000 in 22 carat, and Rs 7,35,600 in 18 carat.
MCX Gold, Silver Prices:
"Gold prices rallied by 1% in the Comex, reaching $3,327 per ounce, as the U.S. Dollar Index slipped below 99.35 and bond yields surged, reflecting rising concerns over the U.S. debt crisis. Increased bond buying by large institutions signals a shift toward safer assets, boosting gold's appeal on global exchanges," said, Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities.
However, the analyst also said, gold remained rangebound as the Indian rupee appreciated sharply by 0.75%, strengthening to 85.25 against the dollar. The stronger rupee offset gains seen in international markets, keeping domestic gold prices in check.
Last week, on May 23rd, the MCX gold price with a June 2025 expiry ended at Rs 96,400 per 10 grams, down marginally by Rs 21 or 0.02%. Also, the MCX silver price with a July 2025 expiry closed at Rs 98,000 on May 23rd, lower by Rs 54 or 0.06%.
Currently, 1kg of silver price is at Rs 99,900, while 100 grams and 10 grams of silver are available at Rs 9,990 and Rs 999. Meanwhile, 8-gram and 1-gram silver rates are at Rs 799.20 and Rs 99.90 respectively.
Gold Prices Outlook On May 26:
"In the coming sessions, gold is expected to trade in a broad range between ₹95,000 and ₹96,500. Key macroeconomic releases including U.S. Manufacturing and Services PMI data, along with New Home Sales figures, will be closely watched by traders for directional cues amid continued global volatility," said Trivedi.
Also, Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial Services said, the legislation, dubbed by Trump as a "big beautiful" tax cut, could add ~$3.8 billion to the already massive $36.2 trillion federal debt over the next decade. Bond vigilantes-investors wary of inflation and fiscal irresponsibility-have returned to focus, keeping pressure on sovereign debt. While investor demand for gold remains subdued for now, the mounting fiscal worries and potential bond market instability could renew interest in the safe-haven asset. On the data front, US manufacturing PMI and Services were reported higher, settling slightly above the 50 mark, initial jobless claims also continued to show tightness in the labor market. Markets will continue to watch both currency moves and macroeconomic signals closely for direction.
Spot gold price climbed over 1.5% on Friday, hitting about $3,350 per ounce, as renewed trade tensions fueled risk aversion.
Disclaimer: The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.
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