Gold Price Rally Returns After Rs.61000 Crash: Gold Rate Today Surge In Bengaluru, Chennai & Hyderabad, May 19

After experiencing three straight days of decline, gold rate today in India staged a strong comeback. During the recent bearish spell, the 24-carat gold rate today had fallen by nearly Rs.61,000 per 100 grams. However, gold prices rebounded sharply across major South Indian cities such as Chennai, Bengaluru, and Hyderabad, where demand for the yellow metal traditionally remains high.

One of the key reasons behind the sudden surge in gold prices today was the weakening of the US dollar, which slipped 0.10% to 99.90 amid rising uncertainty surrounding the Middle East conflict, impacting overall market sentiment.

According to Trading Economics, stronger-than-expected US inflation data has prompted traders to trim expectations of Federal Reserve rate cuts this year. At the same time, speculation has grown that the Fed could even consider another rate hike before the end of the year. Investors are now closely watching the latest FOMC minutes and flash US PMI data for fresh cues on the direction of monetary policy and economic activity.

Gold Rate in Bangalore

On 19th May, 22-carat gold rates in Bangalore today surged by Rs.750 to cost Rs.1,43,950. Meanwhile, 24-carat gold now retails for Rs. 1,57,040 per 10 grams, which jumped by Rs. 820. Just like that, 18-carat gold rates in Bangalore also spiked by Rs.610 to retail at Rs. 1,17,780 per 10 grams.

Gold Prices in Chennai Today

Similarly, the gold rate in Chennai today experienced a huge increase on Tuesday. The 24-carat gold rate in Chennai jumped by Rs. 1310 per 10 grams to cost Rs.1,62,220 per 10 grams, while the 22-carat gold rate in Chennai jumped by Rs. 1200 and now retails at Rs. 1,48,700 per 10 grams.

Gold Prices in Hyderabad Today

On May 19, gold prices in Hyderabad saw a sharp jump across all purity categories. The price of 22-carat gold surged by Rs.750, taking the rate to Rs.1,43,950 per 10 grams. Meanwhile, 24-carat gold prices climbed by Rs.820 and are now retailing at Rs.1,57,040 per 10 grams. Alongside this, 18-carat gold rates in Hyderabad also rose significantly by Rs.610, with the yellow metal now priced at Rs.1,17,780 per 10 grams.

Gold Future Price On MCX

On the Multi Commodity Exchange (MCX), the gold futures for June 5th, 2026, delivery are extending gains of 0.09%, at Rs. 1,59,545 per 10 grams. Similarly, the silver futures for the July 3rd expiry are surging today by 0.82%, trading at Rs.2,74.380 per kg.

Spot Gold And Silver Trends In The Market

"Gold prices remained volatile amid mixed global cues as persistent geopolitical tensions and expectations of potential Fed rate cuts supported safe-haven demand, while a stronger US dollar and elevated US bond yields limited the upside momentum. MCX Gold has witnessed a healthy pullback after a strong rally, indicating some profit booking near higher levels." as per an analyst report from Way to Wealth.

"Despite the corrective move, prices continue to hover near the 10 DEMA support zone, suggesting that the short-term undertone remains positive. Technically, the trend remains supportive, though sustained weakness below the 10 and 20 DEMA zone may trigger fresh selling pressure. The outlook for the day stays cautiously positive with support at 157550-156700 and resistance near 160990-163000; the outlook will need a review below 156400." the report further added.

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