Gold and Silver Prices Rally on MCX Amid Firm Physical Demand: Check City-Wise Rates for Delhi, Mumbai, and Other Major Hubs
Precious metal futures on the Multi Commodity Exchange (MCX) witnessed a positive turnaround on Wednesday, September 9, 2026, as gold and silver prices climbed higher. The upswing was primarily driven by firm domestic physical demand, a muted US dollar, and ongoing global macroeconomic uncertainties. While the October 5 gold contract opened lower at Rs 1,52,120 per 10 grams, it quickly rebounded amid strong buying interest, touching an intraday high of Rs 1,53,599 before trading near the Rs 1,53,407 mark. Market experts note that while geopolitical tensions in West Asia and upcoming US inflation prints continue to steer rate expectations, domestic bullion remains closely attuned to broader global setups.
Technical Outlook and Silver Futures Performance on MCX
Analyzing the technical trajectory, Ponmudi R, CEO of Enrich Money, noted, "Immediate resistance is at Rs 1,54,000-1,54,700, and a break above targets the next resistance at Rs 1,6,300-1,57,000, while immediate support rests at Rs 1,50,700-1,50,000." Meanwhile, silver futures also tracked an upward trajectory. The December 4, 2026 silver contract opened modestly at Rs 2,39,620 per kilogram but gained robust momentum during the session, scaling an intraday high of Rs 2,41,475 before consolidating around Rs 2,41,421. Internationally, COMEX gold posted steady gains, trading up 0.25 percent near USD 4,416.1 per troy ounce.
City-Wise Gold and Silver Prices Across Major Indian Metropolitan Hubs
Retail bullion rates varied slightly across major cities on Wednesday. In the national capital of Delhi, 24-carat gold was quoted at Rs 1,54,460 per 10 grams, while 22-carat gold traded at Rs 1,41,160 per 10 grams. In financial capital Mumbai, Kolkata, and Chennai, 24-carat gold stood firm at Rs 1,54,310 per 10 grams, with 22-carat gold priced at Rs 1,41,450 per 10 grams. For white metal, silver prices scaled Rs 2,50,000 per kilogram in Delhi, Mumbai, and Kolkata, while buyers in Chennai encountered rates reaching Rs 2,55,000 per kilogram.
