Gold Rates Today (May 16, 2026) Crash By Rs 10,000/100 Grams; 24K, 22K, 18K Gold Prices In Hyderabad, Chennai

Gold rates in India extended their fall on May 16, 2026. However, gold price in Chennai witnessed a smaller decline by up to Rs 1,700 compared to a massive Rs 9,800 crash in gold rates in Hyderabad. All 24 carat, 22 carat and 18 carat gold prices are down in most metro cities. Selling sentiment emerged in safe haven assets due to the hawkish macro scenario owing to prolonged US-Israel-Iran tensions, which have kept the energy crisis heightened.

Gold Rates In Hyderabad

24 carat gold rates fall by Rs 9,800 to Rs 15,69,300 in 100 grams, while 10 grmas gold dropped by Rs 980 to Rs 1,56,930. Meanwhile, 8 grams gold price slipped by Rs 784 to Rs 1,25,544 and 1 gram gold is down by Rs 98 to Rs 15,693.

In 22 carat, 100 grams gold price plunged by Rs 9,000 to Rs 14,38,500 and 10 grams gold tumbled by Rs 900 to Rs 1,43,850. Also, 8 grams gold in 22 carat is lower by Rs 720 to Rs 1,15,080 and 1 gram gold edged lower by Rs 90 to Rs 14,385.

Under 18 carat, 100 grams gold is available at Rs 11,77,000, which is down by Rs 7,300 on May 16. Furthermore, 10 grams gold plummeted by Rs 730 to Rs 1,17,700 and 8 grams gold dipped by Rs 584 to Rs 94,160. Lastly, 1 gram gold is lower by Rs 73 to Rs 11,770.

Gold Rates In Chennai

In Chennai, 24 carat gold rates declined by Rs 1,700 to Rs 16,09,100 per 100 grams. In case of 10 grams, gold is down by a meagre Rs 170 to Rs 1,60,910. Also, 8 grams gold dipped by Rs 136 to Rs 1,28,728 and 1 gram gold is down by Rs 17 to Rs 16,091.

Furthermore, 22 carat gold rate in Chennai plunged by Rs 1,500 to Rs 14,75,000 per 100 grams and 10 grams gold plummeted by Rs 150 to Rs 1,47,500. Additionally, 8 grams gold tumbled by Rs 120 to Rs 1,18,000 and 1 gram gold price slipped by Rs 15 to Rs 14,750.

Coming to 18 carat, gold rates stood at Rs 12,31,000 per 100 grams, at Rs 1,23,100 per 10 grams, at Rs 98,480 per 8 grams and at Rs 12,310 per 1 gram. The prices are same as yesterday.

What Is Impacting Gold Prices In India?

As per Kaynat Chainwala, AVP Commodity Research, Kotak Securities, gold and silver prices remained under pressure, weighed down by a hawkish macro repricing increasingly traced to the US‑Iran conflict.

The analyst stated that the catalyst was a bruising week of US price data: consumer inflation rose to 3.8% in April, the highest since May 2023, while wholesale prices accelerated at their fastest pace since 2022, both prints driven substantially by energy costs flowing from Hormuz supply disruptions.

He added, markets have now priced out Fed rate cuts entirely, assigning instead a one‑in‑three probability of a hike by December. It is the rate and dollar implications of that inflation, not the inflation itself, that the market is trading, with higher real yields and a stronger dollar capping the non‑yielding metal's upside. India's decision to raise import tariffs on gold and silver from 6% to 15% added a further demand headwind, threatening to curtail one of the market's most reliable physical‑buying cushions.

Lastly, he said, traders now await clearer outcomes from the ongoing US‑China talks. Both leaders described the summit in emphatic terms, however markets took a more measured view. Diplomatic language has not yet translated into a ceasefire breakthrough, and until Hormuz flows normalise, the inflationary overhang on precious metals is unlikely to lift materially.

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