Today's Gold Price Overview
As of May 15, 2026, the Indian gold market witnessed a slight dip in prices. For 24-carat gold, the national average price stood at Rs 16,009 per gram,
marking a decrease of Rs 224. Correspondingly, 22-carat gold saw a reduction of Rs 205 per gram, settling at Rs 14,675, while 18-carat gold experienced a fall of Rs 168 per gram, now priced at Rs 12,007. These movements are attributed, in part, to ongoing geopolitical tensions in West Asia, specifically the military actions between the US and Iran that commenced around February 28th, creating market volatility. This period of uncertainty often prompts investors to re-evaluate their holdings, influencing demand and pricing dynamics.
City-Wise Gold Rate Comparison
When examining gold prices across India's prominent metropolitan areas, Chennai emerged with the highest rates on this particular day. The price for 24-carat gold in Chennai reached Rs 16,309 per gram. In contrast, most other major cities, including Kolkata, Mumbai, Bangalore, and Hyderabad, recorded the 24-carat gold rate at Rs 16,009 per gram. Delhi saw a marginal difference, with 24-carat gold priced at Rs 16,024 per gram. These variations underscore the localized market conditions and demand patterns that affect gold valuations beyond national averages. For instance, Chennai's higher prices suggest a distinct local demand or supply scenario influencing its gold market compared to other economic hubs.
Detailed Rates by Purity & City
Delving deeper into the specifics, Chennai's pricing advantage extends across all gold purities. For 24-carat gold, the city recorded Rs 16,309 per gram, with 22-carat gold at Rs 14,950 per gram and 18-carat gold at Rs 12,470 per gram. Mumbai, Delhi, Kolkata, Bangalore, and Hyderabad generally mirrored each other for 22-carat and 18-carat gold, with prices at Rs 14,675 and Rs 12,007 per gram, respectively. Delhi offered slight variations, listing 22-carat at Rs 14,690 and 18-carat at Rs 12,022. These detailed figures are crucial for consumers looking to make informed purchasing decisions, as even small differences can add up, especially when buying larger quantities.
Government Measures Impacting Gold
In a move to safeguard the nation's economic stability, particularly concerning foreign exchange reserves and currency value amidst global economic pressures, Prime Minister Narendra Modi had previously advised citizens to consider reducing non-essential foreign travel and gold purchases for a period of one year. This guidance, issued in response to energy supply disruptions linked to the West Asian conflict, aimed to alleviate pressure on the country's financial resources. Furthermore, the government had reinforced these objectives by increasing import duties on gold and silver from 5% to 10%, and on platinum from 6.4% to 15.4%. These fiscal adjustments directly influence the cost of imported precious metals, subsequently affecting domestic market prices and consumer purchasing power.
