MCX Gold Price Today: Gold Slips While Silver Stays Sky-High, Check Latest Price In Your City

MCX Gold PriceThe domestic bullion market woke up to an unusual, divergent trading pattern on Monday, May 18, 2026, delivering a mixed bag of news for retail buyers and commodities investors. While 24-karat gold prices witnessed a sharp, correction-driven retreat from recent historic highs, retail silver remained stubbornly elevated, hovering near record heights across multiple metropolitan hubs. This multi-tier price movement follows a highly volatile trading week that was heavily reshaped by a sudden macro policy intervention from the central government.

The Gold Correction: Yellow Metal Slips on Stronger Dollar and Inflation Worries

After experiencing some of its biggest ever single-day single-week jumps, 24-karat gold felt the heat during early morning trade. In the international markets, spot gold tumbled below the $4,550-per-ounce baseline, slipping nearly 1% to touch $4,495.06 in Asian trading hours. The global correction was triggered primarily by hotter-than-expected US inflation data, which effectively forced investors to price out any near-term Federal Reserve rate cuts while strengthening the US Dollar Index and Treasury yields.

The cascading impact was felt directly across Indian jewelry hubs, where 24-karat gold retreated into the ₹1.58 lakh to ₹1.59 lakh per 10-gram territory. The southern retail hubs continued to maintain a distinct premium over the northern capital, driven heavily by local seasonal wedding demand.

24K Gold Retail Blueprint (Per 10 Grams) — Monday, May 18, 2026:
• Chennai: ₹1,59,290 | • Hyderabad: ₹1,59,080 | • Bengaluru: ₹1,58,960
• Mumbai: ₹1,58,830  | • Kolkata: ₹1,58,620   | • Delhi: ₹1,56,930

Silver Stays Sky-High: Import Restrictions and Duty Hikes Ignite the White Metal

While gold slipped under the weight of global monetary indicators, silver successfully defied the bearish opening to maintain its sky-high premium. In retail markets, silver continued to hover near the elevated ₹2.70 lakh to ₹2.80 lakh per kilogram threshold. The asset’s resilient domestic price action comes directly on the heels of the Directorate General of Foreign Trade (DGFT) implementing a massive policy overhaul over the weekend.

Effective immediately, the government officially changed the import status of silver, silver alloys, and specific precious metal mixtures from “Free” to “Restricted.” This major trade restriction was accompanied by a steep customs duty hike, pushing standard import duties on bullion from 6% up to 15% (complemented by a 3% Integrated Goods and Services Tax). The strict regulatory firewall was raised to curb non-essential imports, after India’s gold and silver import bill spiked by a massive 24% to a record $71.98 billion in the last fiscal cycle, heavily straining foreign exchange reserves.