Gold prices on the Multi Commodity Exchange (MCX) surged near the Rs 1.50 lakh mark per 10 grams on April 24, 2026, driven by strong demand and global cues. Meanwhile, silver witnessed a significant decline, falling by over Rs 2,000 per kilogram.
Gold and Silver Rates on MCX
On MCX, gold futures for June 2026 delivery were trading at Rs 1,49,850 per 10 grams, up by Rs 320 from the previous close. Silver futures for May 2026 delivery dropped to Rs 85,200 per kg, down by Rs 2,150.
City-Wise Gold Rates (per 10 grams, 22-carat)
- Delhi: Rs 1,48,500
- Mumbai: Rs 1,48,300
- Chennai: Rs 1,49,200
- Kolkata: Rs 1,48,400
- Bengaluru: Rs 1,48,600
- Hyderabad: Rs 1,48,700
- Ahmedabad: Rs 1,48,250
- Jaipur: Rs 1,48,550
City-Wise Silver Rates (per kg)
- Delhi: Rs 85,500
- Mumbai: Rs 85,200
- Chennai: Rs 86,000
- Kolkata: Rs 85,300
- Bengaluru: Rs 85,400
- Hyderabad: Rs 85,600
- Ahmedabad: Rs 85,100
- Jaipur: Rs 85,450
Factors Driving Gold Prices
The rise in gold prices is attributed to escalating geopolitical tensions in the Middle East, a weakening US dollar, and expectations of a pause in interest rate hikes by the Federal Reserve. Additionally, central banks across the globe have been increasing their gold reserves, further supporting prices.
Silver Under Pressure
Silver prices faced headwinds due to a slowdown in industrial demand, particularly from the solar panel and electronics sectors. Profit-booking after recent highs also contributed to the decline.
Analysts expect gold to remain volatile in the near term, with a potential to test the Rs 1.52 lakh level if global uncertainties persist. Silver may find support around Rs 84,000 per kg.
