Gold and silver prices across India saw a slight correction on May 19, influenced by easing trade tensions between the United States and China as well as stabilizing global market conditions. This decline in safe-haven demand has led to more accessible pricing, offering investors a potential window to enter the market.
Despite the softening prices, financial experts view the dip as a strategic buying opportunity. Financial advisor Deepak Aggarwal told Mint that the recent correction makes gold more attractive for portfolio diversification. S Sridharan, founder of Wealth Ladder, recommended gold exchange-traded funds (ETFs) over physical gold, citing the cost-efficiency in terms of storage and making charges.
Gold Continues Long-Term Outperformance
Gold has delivered strong long-term returns, rising 30% over the past year alone. Since 2001, the metal has yielded a compounded annual growth rate (CAGR) of 15%, and since 1995, it has consistently outpaced inflation by 2–4%, according to market data.
Current Gold and Silver Prices – May 19
At 11 a.m. on May 19, the Multi Commodity Exchange (MCX) listed gold at ₹93,400 per 10 grams, while silver stood at ₹95,841 per kilogram. Prices were slightly higher compared to the previous week but remained below record highs witnessed before Akshaya Tritiya.
According to the Indian Bullion Association (IBA), 24-carat gold was priced at ₹93,780 per 10 grams, while 22-carat gold was at ₹85,965 per 10 grams. Silver (999 Fine) was quoted at ₹95,960 per kilogram.
Here is a breakdown of gold and silver prices in key Indian cities:
Gold and Silver Prices by City – May 19
| City | Gold (Bullion) ₹/10g | MCX Gold ₹/10g | Silver (Bullion) ₹/kg | MCX Silver 999 ₹/kg |
|---|---|---|---|---|
| Chennai | ₹93,920 | ₹93,400 | ₹96,110 | ₹95,841 |
| Bengaluru | ₹93,720 | ₹93,400 | ₹95,910 | ₹95,841 |
| Hyderabad | ₹93,800 | ₹93,400 | ₹95,990 | ₹95,841 |
| Mumbai | ₹93,650 | ₹93,400 | ₹95,830 | ₹95,841 |
| Kolkata | ₹93,530 | ₹93,400 | ₹95,710 | ₹95,841 |
| New Delhi | ₹93,490 | ₹93,400 | ₹95,670 | ₹95,841 |
Investment Outlook
Experts advise investors to monitor ongoing global developments closely, particularly those affecting U.S.-China relations and U.S. economic performance, both of which play a significant role in influencing precious metal trends. With gold offering consistent long-term returns, the current price dip could be a strategic opportunity for buyers seeking to add gold to their investment portfolios.
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