Gold and Silver Futures Surge on MCX
Precious metals experienced a significant uptick on the Multi Commodity Exchange (MCX) on July 22, 2026. Gold futures saw a rise of approximately 1.08%, reaching ₹1,44,441 per 10 grams. Similarly, silver futures climbed by about 1.01%, hitting ₹2,26,050 per kilogram.
This upward movement comes after a period of relative stability on July 21, when gold prices hovered around ₹1.42 lakh and silver rates neared ₹2.20 lakh. Weakness in international bullion markets had previously put pressure on domestic rates, but the latest trading session shows a strong rebound.
Retail Gold and Silver Prices Across Major Indian Cities
In the retail market, gold is primarily traded in two purities: 24-karat and 22-karat. While 24-karat gold is considered the purest form, 22-karat gold is widely favored for jewelry due to its enhanced strength and durability from alloyed metals. Prices vary slightly based on regional market conditions and brand-specific policies.
Gold Rates (July 22, 2026)
- 24-Karat Gold: Prices for 10 grams ranged from approximately ₹1,44,230 in Chennai to ₹1,46,560 in Delhi. Other major cities like Mumbai, Bengaluru, and Kolkata saw rates around ₹1,46,510.
- 22-Karat Gold: For 10 grams, prices varied from about ₹1,32,210 in Chennai to ₹1,34,450 in Delhi. Mumbai, Bengaluru, and Kolkata recorded rates near ₹1,34,300.
Silver Rates (July 22, 2026)
- Silver prices per kilogram generally stood at ₹2,40,000 across Delhi, Mumbai, Bengaluru, and Kolkata. Hyderabad reported a slightly higher rate of ₹2,45,000, while Chennai was at ₹2,40,100.
Jeweler-Specific Gold Prices (July 17, 2026)
Leading jewelry retailers also reported specific rates, though these figures reflect prices from July 17, 2026. Joyalukkas and Malabar Gold & Diamonds both quoted 22-karat gold at ₹13,220 per gram across several Indian states. Tanishq's 22-karat rate was slightly higher at ₹13,265 per gram.
For 24-karat gold, Malabar Gold & Diamonds listed ₹14,438 per gram, while Tanishq's corresponding rate was ₹14,435 per gram. These minor differences often stem from individual brand pricing strategies and procurement costs.
Key Factors Influencing Precious Metal Markets
Market participants continue to closely monitor several global economic indicators for further direction in precious metal prices. These include crucial global economic data releases, shifts in US interest rate expectations, and fluctuations in major currency movements. Such factors play a significant role in shaping the demand and supply dynamics for gold and silver worldwide, directly impacting domestic rates.