Gold surged significantly on MCX today, crossing ₹1.59 lakh, fueled by US-Iran peace optimism. Silver glittered even brighter, outperforming the yellow metal.
| Purity | Per Gram | Per 10g | Change |
|---|---|---|---|
| 24K Gold | ₹15,938INR | ₹1,59,380 | ↑ ₹32 |
| 22K Gold | ₹14,610 | ₹1,46,100 | ↑ ₹30 |
| 18K Gold | ₹11,954 | ₹1,19,540 | — |
Source: GoldMeter.in • Historical data for reference only
The Indian gold market witnessed a strong upward surge on Monday, May 25, 2026, with MCX gold futures climbing significantly by ₹820 per 10 grams, marking an increase of over 1%. This robust rally pushed the yellow metal past the ₹1.59 lakh mark, driven primarily by growing optimism surrounding a potential US-Iran peace agreement. News that a framework for a deal was "largely negotiated" sent positive ripples across global markets, leading to a drop in oil prices and a weakening US dollar, both factors typically supportive of gold.
The day's trade saw not just gold, but also silver gleaming exceptionally bright. The white metal surged even more dramatically, rallying around 4% and jumping over ₹5,300 per kilogram on the MCX. This strong performance meant silver was glittering more than gold, attracting considerable attention from investors. Experts at ICICI Bank have projected a bullish outlook for gold, suggesting it could hit $5,000 globally in 2026, with ₹1.9 lakh identified as a key hurdle for prices in India. However, Finance Minister Sitharaman highlighted that high crude, fertiliser, and gold prices are creating external front challenges for the Indian economy.
Despite the overall upward trend, some reports indicated a slight fall of ₹110 for 24K gold in certain spot markets, reflecting minor consolidation amidst the broader rally. Meanwhile, India continues to experience "gold fever," with higher import duties reportedly sparking a buying rush across physical jewellery, gold ETFs, and digital gold. For jewelry shoppers and investors alike, daily city-wise prices for 18K, 22K, and 24K gold were widely available across major retailers and cities like Delhi, Mumbai, Kolkata, and Chennai.
Looking ahead, the gold market appears poised to continue its upward trajectory as long as geopolitical stability and a weaker dollar prevail. Investors and jewelry buyers should closely monitor global developments, especially the progress of the US-Iran negotiations, as well as domestic economic indicators. While the ₹1.9 lakh mark presents a significant resistance, the current sentiment suggests continued strength. Always check the latest city-wise rates from reputable jewelers before making any purchase decisions.