Gold-Silver Price after Operation Sindoor: After Operation Sindoor, huge fluctuations were seen in the prices of gold and silver. So far, gold has become cheaper by Rs 3885. Whereas, the price of silver has fallen by Rs 545.
Gold Silver Price 16 May: There has been a big change in the rates of gold and silver in the bullion markets today once again. 24 carat gold became costlier by Rs 1293 per 10 grams in one stroke and opened at Rs 93658 today. Whereas, silver opened at Rs 95588 per kg, rising by Rs 1016. The bullion market rates have been issued by the India Bullion and Jewelers Association (IBJA), which do not have GST . It is possible that in your city, there may be a difference of Rs 1000 to Rs 2000 due to this. IBJA releases the rates twice a day. Once around 12 noon and the second time around 5 pm. Currently, this is the afternoon rate.
After Operation Sindoor, the price of gold and silver fell
After the terrorist attack in Pahalgam on the night of 6-7 May, India destroyed the terrorist bases operating in Pakistan through Operation Sindoor. On May 7, gold opened at Rs 99493 per 10 grams in the bullion market and silver opened at Rs 96133 per kg. After four days, ceasefire happened and during this time, huge fluctuations were seen in the prices of gold and silver. So far, gold has become cheaper by Rs 3885. Whereas, the price of silver has fallen by Rs 545.
Gold prices at their lowest level in a month
Gold prices across the world have fallen to their lowest level in a month. Factors that pushed up bullion rates, including US-China tariff tensions, the Russia-Ukraine war and volatility in equity markets, all appear to be easing. “This has also impacted bullion prices in the Indian market,” said Aksha Kamboj, vice-chairman of the India Bullion and Jewelers Association (IBJA) and executive chairperson of Aspect Global Ventures.
Kamboj said, ‘The rise in bond yields in the US and the reduction in expectations of interest rate cuts by the US Federal Reserve may put further pressure on gold prices globally, which may also affect prices on MCX. Kamboj, however, believes that the fall in prices is positive for gold buyers in India and those interested in long-term investment in physical gold, especially ahead of the upcoming wedding season.
What are the prices with GST
With GST today, gold is being sold at Rs 96467 per 10 grams and silver at Rs 98455 per kg. In the bullion markets, gold has become cheaper by Rs 5442 from its all-time high. On April 22, 2025, gold was at an all-time high of Rs 99100 per 10 grams.
According to IBJA rates, 23 carat gold also became costlier by Rs 1288 today and opened at Rs 93283 per 10 grams. At the same time, the average spot price of 22 carat gold jumped by Rs 1187 at around 12:15 pm and opened at Rs 85791 per 10 grams. The price of 18 carat gold also became costlier by Rs 970 and has come down to Rs 70244 per 10 grams. Whereas, the price of 14 carat gold has increased by Rs 765 and has come down to Rs 54790.
According to Rahul Kalantri, Vice President, Mehta Equities, gold has support at $3,195-3,175 while resistance is at $3,245-3,260. Silver has support at $32.10-31.80 while resistance is at $32.65-32.85.
Gold has support at Rs 92,850-92,480
Kalantri said in rupee terms, gold has support at Rs 92,850-92,480 while resistance is at Rs 93,650-93,890. Silver has support at Rs 95,080-94,450 while resistance is at Rs 96,650-97,250.
Manoj Kumar Jain of PrithviFinmart Commodity Research said in today’s session gold has support at $3,200-3,174 while resistance is at $3,250-3,280 per troy ounce and silver has support at $32.40-32.10 while resistance is at $33.00-33.30 per troy ounce. MCX Gold has support at Rs 92,550-92,000 and resistance at Rs 93,660-94,140 while silver has support at Rs 95,300-94,500 and resistance at Rs 96,650-97,400.
