Gold prices see slight increase, silver hits ₹3 lakh: Check latest prices for 24K, 22K, 18K in Delhi, Mumbai, Chennai, Kolkata

Gold and silver prices in India on May 14, 2026, saw a surge due to a sharp hike in import duty to 15% and geopolitical tensions in West Asia and mixed signals from the US dollar. Precious metals, which are traditionally considered safe-haven assets, have not shown sharp upside, indicating cautious investor sentiment and stable domestic demand.

As per the latest retail market rates, 24-carat gold is trading around ₹16,233 per gram, while 22-carat gold is priced near ₹14,880 per gram. Silver prices are currently trading at the ₹3,00,000 milestone. Prices vary slightly across cities due to local taxes, transportation costs, and jewellers’ margins.

Gold prices in major cities (per gram)

City	24K Gold (₹)	22K Gold (₹)
Delhi	₹16,216	₹14,866
Mumbai	₹16,233	₹14,880
Chennai	₹16,368	₹15,001
Kolkata	₹16,233	₹14,880

It is to be noted that gold prices in India are mainly influenced by international bullion rates, rupee-dollar movement, import duty, and seasonal jewellery demand. With the wedding and festive season approaching in some regions, retail demand remains stable, preventing sharp corrections in prices.

Check the latest gold rates here

Silver prices in major cities

Silver continues to trade at elevated levels compared to long-term averages, supported by industrial demand as well as investment buying. Unlike gold, silver prices are more sensitive to global manufacturing trends, making the metal more volatile during uncertain economic conditions.

City	Silver (₹ per 10 gm)	Silver (₹ per kg)
Delhi	3,000	3,00,000
Mumbai	3,000	3,00,000
Chennai	3,201	3,20,100
Kolkata	3,000	3,00,000

Check the latest silver rates here

MCX closing prices (last trading session on May 14, 2026)

On the Multi Commodity Exchange (MCX), gold jumped to settle at ₹1,63,360 on Wednesday. Silver also rose due to the increase in import duty, with MCX prices rising nearly 8% to ₹2,87,720 per kg. 

Commodity	Price (MCX)	Change
Gold (June futures)	₹1,63,360 per 10 grams	Up 6%
Silver (July futures)	₹2,87,720 per kg	Up 8.63%

Recent futures market data showed mild pressure on bullion, with silver witnessing a sharper correction compared to gold. Analysts say traders remain cautious ahead of global macroeconomic cues, currency movement, and geopolitical developments, which are likely to determine the next trend in precious metals.