Gold and silver prices decline amid stronger dollar. MCX Gold June contracts traded at Rs 153,155 per 10 grams on May 16, while silver May contracts stood at Rs 248,696 per kilogram. International gold prices hit over one-week lows as elevated crude oil prices strengthened the US dollar. In retail markets, 24-karat gold was priced at Rs 157,900 per 10 grams across major cities including Mumbai, Delhi, and Bangalore, while 22-karat gold averaged Rs 144,759 per 10 grams. Silver 999 fine ranged from Rs 289,900 to Rs 304,900 per kilogram depending on location. The yellow metal gained nearly one percent in domestic futures on Wednesday but faces continued pressure from dollar strength. Investors should note that jewellers add making charges, taxes, and GST to final prices. Bullion remains range-bound as market participants assess inflation concerns and currency movements.
