Gold & Silver Prices Today, 21 May 2025: Gold nears Rs 95,530/10g, Silver at Rs 97,600/kg; check city-wise gold rates

Gold & Silver Prices Today, 21 May 2025: Gold prices in India climbed to a one-week high on Wednesday, 21 May 2025, tracking international gains driven by a weaker dollar and concerns over U.S. fiscal health. Silver also witnessed marginal gains.

On the Multi Commodity Exchange (MCX), gold futures for June delivery rose by Rs 609 or 0.64%, settling at Rs 95,526 per 10 grams. Silver futures for May delivery increased by Rs 229 or 0.24%, closing at Rs 97,644 per kilogram.

Global Market Highlights

Spot gold rose 0.2% to $3,293.98 per ounce, touching its highest level since 12 May. U.S. gold futures climbed 0.3% to $3,295.80. The uptick comes as the U.S. dollar fell to a two-week low after Moody’s downgraded the country’s credit rating, citing growing fiscal risks. The retreat in the dollar has made gold cheaper for foreign investors, thereby boosting demand.

Marex analyst Edward Meir noted that the dollar index dropped over a point in the last 24 hours, pressured by political uncertainty surrounding former President Trump’s proposed tax-cut bill. The lack of consensus within the Republican camp added to concerns over U.S. fiscal stability.

KCM Trade’s Chief Market Analyst Tim Waterer said the outlook for gold remains positive in the medium to long term, though any developments in global trade negotiations could influence prices. Waterer noted that gold may attempt to reclaim the $3,500 level if safe-haven demand persists.

Silver, on the other hand, slipped 0.2% to $32.99 an ounce, while platinum declined 0.3% to $1,050.25. Palladium bucked the trend, rising 0.5% to $1,017.93, marking its highest level since 4 February.

Domestic Sentiment & Expert View

Manoj Jain, Director at India Nivesh, attributed the gains in gold and silver to continued safe-haven buying amid rating downgrades, rate cuts in China and Australia, and global economic uncertainty. He highlighted that the fall in the dollar index and global equity selloffs supported precious metal prices.

Jain added that gold could test resistance at $3,334 per ounce, while silver may strengthen further above the $33 mark. On the MCX, gold has support at Rs 94,200–93,650 and resistance at Rs 95,360–95,800. Silver support is expected around Rs 96,650–96,000, with resistance at Rs 98,000–98,850.

Retail Gold Prices Across Major Indian Cities (May 21, 2025):

Gold Price in Mumbai:
In Mumbai, the price of 22-karat gold stood at Rs 8,930 per gram, while 24-karat gold was priced at Rs 9,742 per gram.

Gold Price in Delhi:
The national capital recorded 22K gold at Rs 8,930 per gram, with 24K gold available at Rs 9,757 per gram.

Gold Price in Chennai:
Gold rates in Chennai were slightly lower, with 22K gold at Rs 8,930 per gram and 24K gold at Rs 9,742 per gram.

Gold Price in Kolkata:
In Kolkata, 22-karat gold was priced at Rs 8,930 per gram, and 24-karat gold was selling at Rs 9,742 per gram.

Gold Price in Bengaluru:
Bengaluru saw 22K gold trading at Rs 8,930 per gram, while 24K gold was available at Rs 9,742 per gram.

Gold Price in Kerala:
Pune saw 22K gold trading at Rs 8,930 per gram, while 24K gold was available at Rs 9,742 per gram.