Precious metal prices in India showed mixed movements on July 23, 2026, with gold experiencing a slight dip and silver a marginal increase. This trend reflects the broader impact of international bullion market weakness on domestic rates.
MCX Futures and Market Overview
On the Multi Commodity Exchange (MCX), gold futures for July 23 delivery were recorded at ₹1,45,230 per 10 grams, marking a decrease of approximately 0.31%. In contrast, silver futures demonstrated resilience, rising by around 0.24% to reach ₹2,26,453 per kilogram.
The stability in retail prices comes despite fluctuations in the futures market, indicating a balance between supply, demand, and global economic signals. Market participants are closely monitoring international economic data, particularly US interest rate expectations and currency movements, which are key drivers for future precious metal price direction.
Retail Gold Rates 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 preferred for jewelry due to its enhanced strength and durability from alloyed metals.
24-Karat Gold (per 10 grams)
- Delhi: ₹1,46,570
- Mumbai: ₹1,46,520
- Bengaluru: ₹1,46,520
- Kolkata: ₹1,46,520
- Hyderabad: ₹1,46,520
- Chennai: ₹1,46,520
22-Karat Gold (per 10 grams)
- Delhi: ₹1,34,460
- Mumbai: ₹1,34,310
- Bengaluru: ₹1,34,310
- Kolkata: ₹1,34,310
- Hyderabad: ₹1,34,310
- Chennai: ₹1,34,310
Retail Silver Rates Across Major Indian Cities
Silver prices also showed slight variations across different Indian cities on July 23.
Silver (per 10 grams / per kilogram)
- Delhi: ₹2,401 / ₹2,40,100
- Mumbai: ₹2,401 / ₹2,40,100
- Bengaluru: ₹2,401 / ₹2,40,100
- Kolkata: ₹2,401 / ₹2,40,100
- Hyderabad: ₹2,451 / ₹2,45,100
- Chennai: ₹2,451 / ₹2,45,100
Leading Jeweler Gold Rates (July 17, 2026)
A look at rates from leading jewelers on July 17, 2026, revealed minor differences influenced by brand-specific pricing and regional market conditions, though overall bullion trends remain the primary guide.
- Joyalukkas (22K): ₹13,220 per gram across major Indian states.
- Malabar Gold & Diamonds (22K): ₹13,220 per gram.
- Malabar Gold & Diamonds (24K): ₹14,422 per gram.
- Tanishq (22K): ₹13,275 per gram.
- Tanishq (24K): ₹14,482 per gram.