Precious metal markets in India experienced a slight decline on July 6, 2026, with both gold and silver prices easing amidst a weaker trend in global bullion markets. Investors and consumers are closely monitoring these movements, which are influenced by international economic indicators and currency fluctuations.
Multi Commodity Exchange (MCX) Performance
On the Multi Commodity Exchange (MCX), gold futures registered a marginal drop of 0.09%, trading at ₹1.47 lakh per 10 grams as of 9:25 am. Silver futures also saw a decline, falling by 0.42% to ₹2.36 lakh per kilogram. These figures reflect the immediate impact of international market dynamics on domestic trading.
Retail Gold Prices by Purity and City
Across major Indian cities, retail prices for gold varied based on purity and location. 24-carat gold, considered the purest form, commanded higher rates, while 22-carat gold, preferred for jewellery due to its durability, was priced slightly lower.
- 24-Carat Gold (per 10 grams):
- Chennai: ₹1,49,450
- Delhi: ₹1,46,780
- Mumbai, Bengaluru, Kolkata, Hyderabad: ₹1,46,720
- 22-Carat Gold (per 10 grams):
- Chennai: ₹1,36,990
- Delhi: ₹1,34,640
- Mumbai, Bengaluru, Kolkata, Hyderabad: ₹1,34,490
Retail Silver Prices Across India
Silver prices also showed regional variations on July 6:
- Silver (per 10 grams):
- Hyderabad, Chennai: ₹2,599
- Delhi, Mumbai, Bengaluru, Kolkata: ₹2,450
- Silver (per kilogram):
- Hyderabad, Chennai: ₹2,59,900
- Delhi, Mumbai, Bengaluru, Kolkata: ₹2,45,000
Leading Jewellers' Rates
Leading jewellery retailers maintained largely stable prices for 22-carat gold. Joyalukkas and Malabar Gold & Diamonds quoted ₹13,450 per gram for 22-carat gold across several Indian states. Tanishq offered 22K gold at ₹13,495 per gram. For 24-carat gold, Malabar Gold & Diamonds priced it at ₹14,673 per gram, while Tanishq's rate was approximately ₹14,722 per gram.
Factors Influencing Precious Metal Prices
The fluctuations in gold and silver prices are primarily driven by several key factors. Weakness in international bullion markets often translates to lower domestic rates. Additionally, market participants closely monitor global economic data, expectations regarding US interest rates, and currency movements, all of which play a significant role in shaping the trajectory of precious metal values. Regional market conditions and brand-specific pricing strategies also contribute to the marginal differences observed in retail rates.