Gold prices in India continued their upward trajectory, nearing the significant ₹1.50 lakh per 10 grams mark on August 7, 2026. Simultaneously, silver experienced a dip, trading below ₹2.4 lakh per kilogram. These movements reflect a mixed sentiment in global bullion markets, which directly impacts domestic precious metal rates.
MCX Futures See Moderate Gains
On the Multi Commodity Exchange (MCX), gold futures registered a 0.44% increase, reaching ₹1.49 lakh per 10 grams. Silver futures also saw an uptick, rising by approximately 1.02% to settle at ₹2.28 lakh per kilogram, as of the latest market update.
Retail Gold and Silver Prices
In the retail sector, 24-karat gold was priced at ₹1,49,740 per 10 grams, while 22-karat gold, commonly used for jewellery, stood at ₹1,37,260 per 10 grams. Silver rates in the retail market were recorded at ₹2,39,900 per kilogram.
- 24-Karat Gold: Regarded as the purest form, 24-karat gold is primarily sought for investment purposes.
- 22-Karat Gold: Preferred for crafting jewellery due to its enhanced strength and durability, achieved by alloying with other metals.
Specific city-wise retail rates for 24-karat gold (per 10 grams) on August 7, 2026, included:
- Delhi: ₹1,49,870
- Mumbai: ₹1,49,740
- Chennai: ₹1,50,010
- Kolkata: ₹1,49,740
For silver (per kilogram), key city rates were:
- Delhi: ₹2,39,900
- Mumbai: ₹2,39,900
- Hyderabad: ₹2,50,100
- Chennai: ₹2,50,100
Factors Influencing Precious Metal Markets
Market participants are closely monitoring several global economic indicators to predict future price movements for gold and silver. Key factors include:
- International bullion market trends
- Expectations regarding US interest rates
- Fluctuations in global currency movements
These elements collectively contribute to the volatility and direction of precious metal prices on both national and international exchanges.