Precious metal prices in India remained largely stable on June 23, 2026, with only minor fluctuations observed across major cities. Despite global market reactions to an interim peace agreement between the US and Iran, domestic demand for gold and silver, traditionally considered safe-haven assets, held steady, indicating cautious investor sentiment.
India's Bullion Market Overview
As of June 23, 2026, 24-carat gold was trading around ₹14,652 per gram, while 22-carat gold was priced near ₹13,431 per gram. Silver prices hovered close to ₹2,49,900 per kilogram in the domestic bullion market. Prices vary slightly from city to city due to local taxes, transportation costs, and individual jewellers’ margins.
Several factors influence gold prices in India, including international bullion rates, the rupee-dollar exchange rate, import duties, and seasonal jewellery demand. With the wedding and festive season approaching in some regions, retail demand remains stable, preventing sharp corrections in prices.
City-Wise Gold Rates on June 23
Here are the latest retail gold prices per gram for 24K and 22K purity in major Indian cities:
- Delhi: 24K Gold ₹14,667 | 22K Gold ₹13,446
- Mumbai: 24K Gold ₹14,652 | 22K Gold ₹13,431
- Kolkata: 24K Gold ₹14,652 | 22K Gold ₹13,431
- Chennai: 24K Gold ₹14,836 | 22K Gold ₹13,599
Silver Market Trends
Silver continues to trade at elevated levels compared to long-term averages, supported by both industrial demand and investment buying. Unlike gold, silver prices are more sensitive to global manufacturing trends, which can make the metal more volatile during periods of economic uncertainty.
Latest silver prices per kilogram in major Indian cities:
- Delhi: ₹2,49,900
- Mumbai: ₹2,49,900
- Kolkata: ₹2,49,900
- Chennai: ₹2,54,900
MCX Futures Performance
On the Multi Commodity Exchange (MCX), gold futures for August delivery settled slightly higher at ₹1,49,236 per 10 grams in the last trading session on June 22, 2026. Silver futures for July delivery also saw a rise, increasing nearly 2% to ₹2,37,990 per kilogram.
Analysts note that traders remain cautious, awaiting global macroeconomic cues, currency movements, and geopolitical developments, which are expected to dictate the next trend in precious metals.