Gold Rate Today in India Declines Further Amid Fed Leadership Change to Kevin Warsh, Silver Flat on 23 May

Gold rates in India extended their decline for the second consecutive session on Friday, May 23, 2026, amid growing global uncertainty after US President Donald Trump formally handed over leadership of the US Federal Reserve to Kevin Warsh. Markets are closely watching signals around future US interest-rate policy, especially as rising crude oil prices continue to fuel inflation concerns globally.

Gold Prices Under Pressure After Kevin Warsh Becomes Fed Chair

Domestic gold rates slipped further at the end of the trading week, with 24K gold falling by Rs 43 to Rs 15,906 per gram, while 22K gold declined by Rs 40 to Rs 14,580 per gram. Over the last two trading sessions alone, 24K gold prices have dropped sharply by nearly Rs 8,700 per 100 grams, reflecting increased volatility in the bullion market.

In contrast, silver prices remained largely stable despite weakness in gold. Silver in India was priced at Rs 285 per gram and Rs 2,85,000 per kilogram on Friday, showing little movement from the previous session.

Gold Rate Today: Check Latest 22K, 24K & 18K Gold Prices on 23 May 2026

24 Karat Gold Rate Today in India

The price of 24 Karat gold in India fell by Rs 43 to Rs 15,906 per gram, compared with Rs 15,949 on May 22. The price of 8 grams of 24K gold stood at Rs 1,27,248 after a decline of Rs 344, while 10 grams slipped by Rs 430 to Rs 1,59,060. For larger quantities, 100 grams of 24 Karat gold dropped sharply by Rs 4,300 to Rs 15,90,600.

22 Karat Gold Rate Today in India

Similarly, 22 Karat gold prices also moved lower on May 23. The rate of 22K gold declined by Rs 40 to Rs 14,580 per gram from Rs 14,620 recorded a day earlier. The price of 8 grams eased by Rs 320 to Rs 1,16,640, while 10 grams of 22 Karat gold fell by Rs 400 to Rs 1,45,800. Meanwhile, 100 grams of 22K gold declined by Rs 4,000 to Rs 14,58,000.

18 Karat Gold Rate Today in India

18 Karat gold rates also registered losses during the session. The price of 18K gold dropped by Rs 33 to Rs 11,929 per gram, down from Rs 11,962 on May 22. The cost of 8 grams fell by Rs 264 to Rs 95,432, while 10 grams slipped by Rs 330 to Rs 1,19,290. The price of 100 grams of 18 Karat gold declined by Rs 3,300 to Rs 11,92,900.

Silver Rate Today: Check Latest Silver Prices Per Kg and Grams on May 23, 2026

Silver prices in India remained unchanged on May 23, 2026, even as gold rates continued to witness volatility in the domestic bullion market. The price of silver stood steady at Rs 285 per gram, unchanged from the previous trading session.

Similarly, the rate for 8 grams of silver remained flat at Rs 2,280, while 10 grams continued to be priced at Rs 2,850 without any change compared with May 22.

For larger quantities, 100 grams of silver held steady at Rs 28,500. Meanwhile, 1 kilogram of silver was priced unchanged at Rs 2,85,000, reflecting stability in silver demand and pricing despite fluctuations in global precious metal markets.

"Markets currently expect the Fed to keep rates steady this year, although rate hike expectations for the second half of 2026 have increased. Investors now remain focused on further developments in U.S.-Iran negotiations and their impact on oil prices, inflation expectations, and global monetary policy," said Manav Modi Commodities Analyst, Motilal Oswal Financial Services Ltd.

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