Gold and Silver Prices Decline on May 17 Amid Strong Dollar and Rising Crude Oil
Gold and silver price today, 17 May: Check retail rates of 24K, 22K gold and 999 silver in Delhi, Mumbai, other cities

Image: Mint
On May 17, gold and silver prices fell in India, with 24-karat gold priced at ₹159,110 per 10 grams and silver at ₹271,740 per kg. The decline is attributed to a stronger US dollar and rising crude oil prices, impacting market sentiment and expectations for interest rates.
- 01MCX gold June futures decreased by 0.87% to ₹1,60,562 per 10 grams.
- 02MCX silver July futures dropped 3.28% to ₹2,81,551 per kg.
- 03In New Delhi, 24-karat gold was priced at ₹158,550 per 10 grams.
- 04Tata Mutual Fund forecasts short-term volatility of around ±5% for gold prices.
- 05Spot silver prices fell 7.7% to $77.07 per ounce amid demand concerns.
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On May 17, gold and silver prices in India experienced a notable decline, influenced by a stronger US dollar and rising crude oil prices. 24-karat gold was priced at ₹159,110 per 10 grams, while 22-karat gold stood at ₹145,851 per 10 grams. Silver (999 fine) was priced at ₹271,740 per kg. In major cities, prices varied slightly; for instance, in New Delhi, 24-karat gold was ₹158,550 per 10 grams, and in Mumbai, it was ₹158,820. The drop in prices is attributed to rising U.S. Treasury yields and inflation concerns linked to geopolitical tensions, particularly the conflict involving Iran. According to Tata Mutual Fund, gold prices are expected to consolidate in the near term amidst mixed macroeconomic signals, with potential short-term volatility of around ±5%. Silver prices may also fluctuate due to demand concerns in the industrial sector, although a deteriorating global economic outlook could limit medium-term demand.
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The decline in gold and silver prices may affect consumer buying decisions, with potential implications for jewelry purchases and investments.
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