Gold Extends Losing Streak into Monday; 24K Sheds ₹3,870 per 10 gm

Mumbai, May 18: Gold prices in India fell for a third consecutive session on Monday, extending the correction that began in the immediate aftermath of last Wednesday’s tariff-driven surge.

The national price of 24-karat gold (99.9% purity) declined to ₹1,56,220 per 10 grams, shedding ₹3,870 from Friday’s ₹1,60,090. The 22-karat rate (91.6% purity) fell to ₹1,43,200 per 10 grams, down ₹3,550 from Friday’s ₹1,46,750. The 18-karat price (75% purity) eased to ₹1,17,170 per 10 grams, retreating ₹2,900 from Friday’s ₹1,20,070. On a per-gram basis, 24K gold now stands at ₹15,622, 22K at ₹14,320 and 18K at ₹11,717 down ₹71, ₹65 and ₹53 respectively on the day.

Monday’s decline brings the cumulative three-session pullback in 24K gold to ₹11,640 per 10 grams from Wednesday’s post-tariff peak of ₹1,67,860, unwinding a substantial portion of the ₹13,910 jump that accompanied the government’s decision to more than double gold and silver import duties to 15 per cent.

The pace of the correction has accelerated into the new week, with Monday’s ₹3,870 drop in 24K outpacing both Thursday’s ₹2,240 and Friday’s ₹2,240 declines, suggesting that selling pressure is building as domestic prices remain elevated relative to international spot levels.

Retail buying at jewellery counters has been subdued, with consumers holding back in anticipation of further softening, while bullion traders noted that the widened gap between Indian and global prices a structural consequence of the 15 per cent import levy continues to suppress demand and create conditions historically associated with a pickup in grey market imports.

City-Wise Gold Rates: Southern and Western India

Chennai once again commanded the highest gold rates among India’s major cities on Monday, quoting 24-karat gold at ₹1,60,910 per 10 grams, 22-karat at ₹1,47,500 and 18-karat at ₹1,23,100 a consistent premium over the national rate that reflects the deep-rooted jewellery culture of Tamil Nadu and the pricing authority of local bullion associations.

Mumbai, Kolkata, Bangalore, Hyderabad, Kerala and Pune were all uniformly pegged at the national benchmark of ₹1,56,220 for 24-karat, ₹1,43,200 for 22-karat and ₹1,17,170 for 18-karat gold per 10 grams, reflecting the tight pricing harmony that characterises India’s major urban bullion markets in the absence of localised supply pressures.

Delhi quoted 24-karat gold at ₹1,56,370 per 10 grams, 22-karat at ₹1,43,350 and 18-karat at ₹1,17,320 a marginal premium above the national benchmark that has long reflected the capital’s elevated dealer margins and its outsized role in India’s organised jewellery trade. Vadodara and Ahmedabad were both quoted at ₹1,56,270 for 24-karat, ₹1,43,250 for 22-karat and ₹1,17,220 for 18-karat gold per 10 grams, consistent with Gujarat’s established convention of pricing modestly above Mumbai. Across all cities, Monday’s broad-based decline moved in near-perfect lockstep, a pattern that underscores how the post-tariff correction is being driven by national and global forces rather than any city-specific supply or demand dynamic.

Source: goodreturns.in | Monday, May 18, 2026

Source:

• https://www.goodreturns.in/gold-rates/