Gold & Silver Prices Today, 16 May 2025: Gold inches up to Rs 93,550/10g, Silver slips to Rs 96,100/kg

Gold & Silver Prices Today, 16 May 2025: On Thursday, gold prices in the domestic market saw a modest uptick, while silver edged lower amid global economic cues and mixed U.S data. On the Multi Commodity Exchange (MCX), gold futures for June delivery rose by Rs 88 or 0.09 per cent, closing at ₹93,550 per 10 grams. Conversely, silver futures for May delivery dipped by Rs 212 or 0.22 per cent, settling at ₹96,100 per kilogram.

Global market 

Gold prices internationally are on track for their steepest weekly fall in six months, pressured by a firming US dollar and diminishing safe-haven demand following easing US-China trade tensions. Spot gold dropped 0.6 per cent to $3,221.19 an ounce as of early Friday, down over 3 per cent for the week, marking the worst weekly performance since November 2024.

The dollar has strengthened by 0.2 per cent this week, heading for a fourth consecutive weekly gain, which in turn makes gold costlier for buyers holding other currencies. Analysts attribute the decline to de-escalation in trade hostilities between the US and China, with both nations agreeing to ease tariffs imposed earlier this year.

“Gold faced selling pressure as trade tensions cooled,” said Ilya Spivak, Head of Global Macro at Tastylive. However, he added that the metal remains supported by cautious economic signals from the US

Spot silver also declined 0.7 per cent to $32.44 an ounce, while platinum and palladium fell 0.3 per cent and 1.2 per cent, respectively.

Market analysis & forecast

According to Manoj Jain, Director at India Nivesh, gold and silver experienced rollercoaster movements due to conflicting signals from US economic data and volatility in the dollar index. On Thursday, gold settled at $3,226.60 per troy ounce globally, up 1.2 per cent, while silver closed at $32.68 per ounce, gaining 0.73 per cent.

In India, gold June futures ended at Rs 93,169 per 10 grams with a gain of 0.98 per cent, and silver July futures closed at ₹95,915 per kg, up by 0.47 per cent. Prices dipped earlier in the day due to easing geopolitical tensions and optimism over a potential US-Iran nuclear agreement but recovered later on profit-booking in the dollar index.

The US Producer Price Index (PPI) unexpectedly fell by 0.5 per cent in April, contrasting with expectations of a 0.3 per cent increase. This helped gold and silver rebound as the dollar index and US bond yields cooled off. Yet, analysts warn that easing trade tensions may cap further gains.

KCM Trade’s Chief Market Analyst Tim Waterer noted that dips in gold continue to attract buyers, pointing to underlying concerns over global growth and inflation.

Technical levels to watch

• Gold (International): Support at $3,200–$3,174; Resistance at $3,250–$3,280
• Silver (International): Support at $32.40–$32.10; Resistance at $33.00–$33.30
• Gold (MCX): Support at ₹92,550–₹92,000; Resistance at Rs 93,660–Rs 94,140
• Silver (MCX): Support at ₹95,300–₹94,500; Resistance at  Rs 96,650–Rs 97,400

Traders are advised to consider buying silver near Rs 95,500 with a stop loss at Rs 95,000 and a target of Rs 96,650.

Currency market trends

The US dollar index showed significant volatility, closing weaker at 100.675 after initial gains faded due to mixed economic indicators. US retail sales met expectations, but jobless claims rose and bond yields cooled. On the domestic front, the USD-INR 28 May futures rose by 0.20 per cent to 85.5450 amid high volatility, driven by uncertainties around a USIndia trade deal and rising imports in April.

The rupee is expected to remain volatile, trading within a range of 85.0600 to 86.1500, influenced by global market fluctuations and the dollar index movement.

Retail Gold Prices Across Major Indian Cities (May 16, 2025):

Gold Price in Mumbai:
In Mumbai, the price of 22-karat gold stood at Rs 8,720 per gram, while 24-karat gold was priced at Rs 9,513 per gram.

Gold Price in Delhi:
The national capital recorded 22K gold at Rs 8,735per gram, with 24K gold available at Rs 9,528 per gram.

Gold Price in Chennai:
Gold rates in Chennai were slightly lower, with 22K gold at Rs 8,720 per gram and 24K gold at Rs 9,513 per gram.

Gold Price in Kolkata:
In Kolkata, 22-karat gold was priced at Rs 8,720 per gram, and 24-karat gold was selling at Rs 9,513 per gram.

Gold Price in Bengaluru:
Bengaluru saw 22K gold trading at Rs 8,804 per gram, while 24K gold was available at Rs 9,513 per gram.

Gold Price in Kerala:
Pune saw 22K gold trading at Rs 8,720 per gram, while 24K gold was available at Rs 9,513 per gram.