More Stories

Informist, Monday, May 18, 2026

By Taniva Singha Roy

MUMBAI – Gold prices in the spot market opened lower on Monday as there was limited demand at higher prices, traders said. Prices also fell, tracking futures contracts on COMEX, which fell as higher crude oil prices strengthened inflation concerns.

Gold of 99.9% purity opened at INR 157,821 per 10 grams in Mumbai, down from Friday's closing of INR 158,210, according to data from the India Bullion and Jewellers Association Ltd. "Prices fell as there was limited buying at higher prices," Kumar Jain, spokesperson for the India Bullion and Jewellers Association, said.

There is small-scale demand for jewellery, but people are avoiding buying bullion after comments by Prime Minister Narendra Modi to avoid non-essential gold purchases to lower India's import bill and conserve foreign exchange, Jain added. Traders were offering a discount of INR 10,000 per 10 grams, he said.

Meanwhile, gold prices declined as rising US treasury yields and a stronger dollar reduced the appeal of bullion as a safe-haven asset. Persistent tensions in West Asia and higher crude oil prices strengthened inflation concerns, leading markets to largely rule out rate cut by Federal Reserve this year, Amit Gupta, analyst at Kedia Advisory, said in a note.  End

Edited by Akul Nishant Akhoury

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

Informist Media Tel +91 (22) 6985-4000 

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2026. All rights reserved.