Gold falls Rs 749, silver Rs 2,587 ahead of festive season, check today's MCX rates
MCX gold and silver futures slipped on Thursday even as festive-season buying demand kept the market in focus
With festive-season buying of gold and silver drawing strong interest, the market brought some relief on Thursday, September 24, 2026. Gold futures on the Multi Commodity Exchange (MCX) fell during the day. At 2:18 pm, the October 5 expiry gold contract was trading at Rs 1,50,550 per 10 grams, down Rs 749, or 0.50 percent, from the previous close. Through the day's trade, gold touched a low of Rs 1,50,383 and a high of Rs 1,51,350.
Silver also fell. At 9:05 am, the MCX silver contract for December 4 delivery was priced at Rs 2,34,650 per kg, down 0.53 percent from the previous rate. According to afternoon figures, silver later fell Rs 2,587, or 1.10 percent, to Rs 2,33,308 per kg.
In Mumbai's retail market, gold and silver rates showed slight differences across sources. According to figures for September 24, 24-carat gold in Mumbai was priced at Rs 1,51,230 per 10 grams and 22-carat gold at Rs 1,38,520 per 10 grams. Another set of figures put the price of 24-carat gold in Mumbai at Rs 1,51,368 per 10 grams. Buyers should confirm the current rate with their jeweller before making an actual purchase.
Mumbai's September 24 figures for silver put the rate at Rs 2,35,465 per kg, down about Rs 757 from the previous day's Rs 2,36,222.
The question then is why MCX rates differ from bullion market rates. The MCX rate is for futures contracts, while retail bullion prices are affected by purity, local demand, taxes and a dealer's own pricing. GST and making charges are added when buying jewellery. This is why the MCX rate and the price actually paid at a jewellery shop are not always the same. International prices of precious metals, movement of the dollar, expectations around US interest rates, and political developments around the world also continue to affect gold and silver prices.
