Precious metal markets experienced significant downward pressure on June 30, 2026, as both gold and silver futures registered losses. The decline was primarily driven by a strengthening US dollar and growing anticipation that the US Federal Reserve would maintain elevated interest rates for an extended period, diminishing the appeal of non-yielding assets like bullion.
MCX Futures See Decline
On the Multi Commodity Exchange (MCX), gold futures fell approximately 0.54%, trading near ₹1.43 lakh per 10 grams during the session. Silver futures also faced selling pressure, dropping below the ₹2.22 lakh per kilogram mark. This movement reflected the broader weakness observed in international bullion markets.
Retail Gold & Silver Rates Across India
In the retail market, gold is predominantly traded in two purities: 24-karat and 22-karat. While 24-karat is considered the purest form, 22-karat gold is widely favored for jewelry due to its enhanced strength and durability from alloyed metals.
Today's 24K and 22K Gold Prices (per 10 grams):
- Delhi: 24K at ₹1,42,070 | 22K at ₹1,30,240
- Mumbai, Bengaluru, Kolkata, Hyderabad: 24K at ₹1,41,920 | 22K at ₹1,30,090
- Chennai: 24K at ₹1,45,080 | 22K at ₹1,32,990
Today's Silver Prices (per 10 grams / per kg):
- Delhi, Mumbai, Bengaluru, Kolkata: ₹2,350 per 10gm | ₹2,35,000 per kg
- Hyderabad, Chennai: ₹2,449 per 10gm | ₹2,44,900 per kg
Jeweller Pricing Variations
Leading jewellery retailers showed slight variations in their gold prices. On June 24, 2026, Joyalukkas and Malabar Gold & Diamonds quoted ₹13,010 per gram for 22-carat gold across most Indian states. Tanishq's 22K gold rate was marginally higher at ₹13,055 per gram. For 24-carat gold, Malabar's rate stood at ₹14,193 per gram, while Tanishq's was approximately ₹14,242 per gram. These minor differences stem from brand-specific policies, procurement costs, and regional market dynamics, though overall bullion trends guide the core pricing.
Market Outlook
Market participants will continue to monitor global economic data, US interest rate expectations, and currency movements for further indications on the direction of precious metal prices in the coming days.