Precious metal markets saw a slight dip on July 7, 2026, with gold and silver futures experiencing declines. This follows weakness observed in international bullion markets, which subsequently impacted domestic rates across India.
MCX Futures Show Decline
On the Multi Commodity Exchange (MCX), gold futures were down by 0.52%, trading at ₹1.46 lakh per 10 grams. Silver futures also saw a significant drop, falling by more than 1% to ₹2.33 lakh per kilogram at the time of reporting.
Market participants are closely monitoring global economic data, US interest rate expectations, and currency movements, as these factors continue to provide direction for precious metal prices.
Retail Gold & Silver Rates Today
Despite the dip in futures, retail gold prices at leading jewellery retailers remained largely stable on July 7, 2026. Consumers can find gold primarily in two purities: 24-karat and 22-karat. While 24-karat is considered the purest, 22-karat gold is widely preferred for jewellery due to its enhanced strength and durability from alloyed metals.
City-wise Gold Rates (₹ per 10gm, July 7, 2026):
- Delhi: 24K - ₹1,46,760; 22K - ₹1,34,540
- Mumbai: 24K - ₹1,46,610; 22K - ₹1,34,390
- Bengaluru: 24K - ₹1,46,610; 22K - ₹1,34,390
- Kolkata: 24K - ₹1,46,610; 22K - ₹1,34,390
- Hyderabad: 24K - ₹1,46,610; 22K - ₹1,34,390
- Chennai: 24K - ₹1,47,920; 22K - ₹1,35,590
City-wise Silver Rates (July 7, 2026):
- Delhi: ₹2,449 per 10gm; ₹2,44,900 per kg
- Mumbai: ₹2,449 per 10gm; ₹2,44,900 per kg
- Bengaluru: ₹2,449 per 10gm; ₹2,44,900 per kg
- Kolkata: ₹2,449 per 10gm; ₹2,44,900 per kg
- Hyderabad: ₹2,449 per 10gm; ₹2,44,900 per kg
- Chennai: ₹2,499 per 10gm; ₹2,49,900 per kg
Top Jeweller Rates & Influencing Factors
For 22-carat gold, major retailers like Joyalukkas and Malabar Gold & Diamonds quoted ₹13,450 per gram across several Indian states. Tanishq's 22K rate was slightly higher at ₹13,485 per gram. For 24-carat gold, Malabar's rate stood at ₹14,673 per gram, while Tanishq's was approximately ₹14,711 per gram.
Marginal differences in retail prices among jewellers are typically influenced by brand-specific pricing policies, procurement costs, and regional market dynamics, all while overall bullion trends continue to guide the broader market.