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The continuous rise in rates has slowed jewellery purchases (Img: Internet)
New Delhi: The bullion market witnessed another major jump in gold and silver prices on May 20, 2026, increasing concerns among customers and investors. The continuous rise in rates has slowed jewellery purchases across several cities, with traders reporting weaker footfall in local markets.
According to the latest market rates, 24-carat gold climbed to Rs 1,51,990 per 10 grams in major cities including Delhi, Noida, Lucknow, Ghaziabad, Kanpur, Varanasi and Agra. The price increased by Rs 790 compared to the previous trading session.
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The price of 22-carat gold also witnessed a sharp rise. On Wednesday, it was trading at Rs 1,44,750 per 10 grams, up by Rs 750 from the previous day.
Jewellers said demand for 22-carat gold, which is commonly preferred for weddings and ornaments, has slowed due to the steep rise in prices. Many customers are reportedly postponing purchases in anticipation of market stability.
However, some investors continue to buy gold considering it a safer investment during uncertain global market conditions.
Silver prices also recorded a significant surge alongside gold. The metal touched Rs 3,00,000 per kilogram in the morning trade, creating concern among small investors and traders.
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Market experts said industrial demand and international market trends have contributed to the sharp movement in silver prices. The volatility in global commodity markets continues to impact domestic bullion rates.
Analysts believe fluctuations in international markets remain the primary reason behind the sharp rise in gold and silver prices. Weak physical demand, profit booking by investors and uncertainty surrounding global economic conditions have increased market instability.
Experts also pointed to the impact of US Federal Reserve policy decisions and global financial developments on precious metal prices.
Traders have advised customers to check current rates carefully before making purchases, as online and local market prices may differ across cities and jewellery shops.
