Precious metal prices in India experienced a decline on July 9, 2026, with gold futures dropping below the ₹1.45 lakh mark. This movement in domestic rates was largely attributed to prevailing weakness observed in international bullion markets.
MCX Gold and Silver Futures Update
On the Multi Commodity Exchange (MCX), gold futures registered a 0.24% decrease, trading at approximately ₹1.43 lakh per 10 grams at the time of reporting. Concurrently, silver futures also saw a notable decline, dropping by 0.67% to settle at ₹2.21 lakh per kilogram.
Factors Influencing Precious Metal Prices
Market participants are closely monitoring several global economic indicators, including anticipated US interest rate adjustments and currency fluctuations. These factors are expected to continue dictating the direction of precious metal prices in the near term.
Retail Gold Purity and Pricing
In the retail sector, gold is primarily traded in two purities: 24-karat and 22-karat. While 24-karat gold is recognized as the purest form, 22-karat gold remains a popular choice for jewellery due to its enhanced strength and durability, attributed to the inclusion of alloyed metals.
Current Retail Rates (July 9, 2026)
Across major Indian cities, 24-karat gold (per 10 grams) was priced as follows:
- Delhi: ₹1,43,270
- Mumbai: ₹1,43,120
- Bengaluru: ₹1,43,120
- Chennai: ₹1,44,540
For 22-karat gold (per 10 grams), the rates were:
- Delhi: ₹1,31,340
- Mumbai: ₹1,31,190
- Bengaluru: ₹1,31,190
- Chennai: ₹1,32,490
Retail silver prices (per kilogram) across key cities included:
- Delhi: ₹2,45,100
- Mumbai: ₹2,44,900
- Bengaluru: ₹2,44,900
- Chennai: ₹2,49,900
Leading jewellery retailers also reflected these trends, with marginal differences in pricing influenced by brand-specific policies, procurement costs, and regional market conditions. Overall bullion trends continue to serve as the primary guide for gold and silver prices.