Precious metal markets experienced mixed movements on July 27, with gold futures showing a slight increase on the Multi Commodity Exchange (MCX) while silver futures recorded a modest decline. The overall stability in domestic rates was largely attributed to prevailing weakness in international bullion markets.
MCX Performance for Gold and Silver
As of 10 AM on July 27, gold futures on the MCX were trading higher by approximately 0.66%, reaching ₹1,44,730 per 10 grams. Conversely, silver futures saw a drop of about 0.96%, settling at ₹2,25,020 per kilogram. These movements reflect the dynamic interplay of global and domestic factors influencing commodity markets.
Retail Gold Rates Across Key Indian Cities
In the retail market, 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 is commonly preferred for jewelry due to its enhanced strength and durability from alloyed metals.
- Delhi: 24K at ₹1,46,040 per 10gm, 22K at ₹1,33,850 per 10gm
- Mumbai: 24K at ₹1,45,860 per 10gm, 22K at ₹1,33,700 per 10gm
- Bengaluru: 24K at ₹1,45,890 per 10gm, 22K at ₹1,33,700 per 10gm
- Kolkata: 24K at ₹1,45,890 per 10gm, 22K at ₹1,33,700 per 10gm
- Hyderabad: 24K at ₹1,45,890 per 10gm, 22K at ₹1,33,700 per 10gm
- Chennai: 24K at ₹1,45,860 per 10gm, 22K at ₹1,33,700 per 10gm
Retail Silver Rates
Silver prices also showed consistency across major cities:
- Delhi: ₹24,000 per 10gm, ₹2,40,000 per kg
- Mumbai: ₹24,000 per 10gm, ₹2,40,000 per kg
- Bengaluru: ₹24,000 per 10gm, ₹2,40,000 per kg
- Kolkata: ₹24,000 per 10gm, ₹2,40,000 per kg
- Hyderabad: ₹24,000 per 10gm, ₹2,40,000 per kg
- Chennai: ₹24,000 per 10gm, ₹2,40,000 per kg
Jeweller-Specific Rates
Leading jewelers also reported stable prices, with slight variations influenced by brand policies and regional market conditions. On July 17, 2026, Joyalukkas and Malabar Gold & Diamonds quoted 22K gold at ₹13,370 per gram across several states. Tanishq's 22K rate stood at ₹13,330 per gram. For 24K gold, Malabar offered ₹14,585 per gram, while Tanishq was at an estimated ₹14,542 per gram.
Factors Influencing Precious Metal Prices
Market participants continue to closely monitor several key indicators for future direction in precious metal prices. These include global economic data releases, expectations surrounding US interest rate decisions, and fluctuations in currency exchange rates. Such factors play a crucial role in shaping both international bullion trends and domestic market sentiments.