Gold rate today (May 17, 2026): Check 24K, 22K, 18K prices in Delhi, Mumbai, Kolkata, Chennai, Lucknow and other major cities

Gold Rate Today (May 17, 2026): India’s gold market experienced a notable correction on Sunday, May 17, 2026, with bullion prices falling across major cities amid pressure from a stronger US dollar, rising crude oil prices and heavy investor profit booking. According to market data released by the All India Sarafa Association, the price of 24-carat gold in Delhi dropped by Rs 3,200 to Rs 1,62,000 per 10 grams, inclusive of taxes. The weakness was also visible in futures trading, where gold contracts on the Multi Commodity Exchange (MCX) slipped to Rs 1,58,450 per 10 grams during Friday’s session. The Indian Bullion and Jewellers Association (IBJA) reported that gold settled at Rs 1,58,210 per 10 grams by Friday’s market close. Since bullion markets remain shut over the weekend, these rates will continue to apply on Saturday and Sunday.

The recent decline marks a significant shift from the rally seen earlier this year. On January 29, gold futures had surged to an all-time high of Rs 1,80,779 per 10 grams on the MCX.

Internationally, spot gold prices also moved lower, falling to $4,548.46 per ounce. Analysts say a stronger dollar and higher US bond yields encouraged investors to move away from bullion and toward safer dollar-based assets.

24K, 22K, 18K Gold Rate In Delhi, Chennai, Mumbai And Other Major Cities

Commodity experts believe global economic uncertainty and tightening monetary expectations are driving volatility in the bullion market.

According to news agency PTI, Saumil Gandhi, Senior Analyst (Commodities) at HDFC Securities, said that precious metals faced heavy selling pressure on Friday. Growing concerns about inflation have further reinforced the need for tighter monetary policy. He said this outlook pushed investors toward the dollar and US bond yields, reducing the attractiveness of gold.

Jatin Trivedi, Research Analyst (Commodities & Currency) at LKP Securities, said that gold prices remained under pressure as rising crude oil prices and a strengthening dollar index led to a sharp decline in gold prices. This weakened trading sentiment in the bullion market. He said that investors also booked profits after the sharp rise and high levels seen in precious metal prices in the last few sessions, as per the report.

Gaurav Garg, Research Analyst at Lemon Markets Desk, said that the strong dollar and ongoing geopolitical tensions led to fluctuations in market sentiment, which is why gold prices fell on Friday. According to experts, additional pressure came after the government's decision on Thursday to impose a quantity limit of 100 kg on gold along with other restrictions. Investor sentiment was affected by a strong US dollar, high crude oil prices and diminishing expectations of interest rate cuts by the Federal Reserve.

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