Gold slips marginally lower on MCX even as spot prices on Comex gain over 2% this week

Gold rates across India’s major cities showed remarkable uniformity, with only marginal differences due to local taxes, jeweller margins, and logistics costs.

• Gold spot price fell 0.27% to $4,444.46/oz, up 2.19% over the past week
• MCX gold futures fell 0.2% to Rs 1,37,735 per 10g; peaked at Rs 1,40,465 on Dec 26.
• Gold expected to trade between Rs 1,36,500 and Rs 1,41,000 in the near term

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The gold spot price, which is bought and sold for immediate delivery, stood just above $4,444.46 an ounce on January 8 (9:03  a.m. IST), representing a decline of 0.27 percent from its previous close and a 2.19 percent gain in the past week. The spot price surged to its peak performance at Rs $4,546 on December 26, 2025.

The domestic futures price of gold on MCX on Thursday stood at Rs 1,37,735 per 10 grams of 24-Carat purity, which is a 0.2 percent decline from its previous close at Rs 1,39,009. Trading in futures involves standardized contracts to buy and sell the precious metal at a predetermined price. The gold futures price peaked on MCX at Rs 1,40,465 as recorded on December 26.

Meanwhile, the rupee stood at 89.861 against the U.S. dollar on Thursday, representing a gain of 0.03 percent in a day and a 0.11 percent decline in a week.

Gold prices vary by purity. Check out below to see the prices of gold based on its purity

Gold Price Today (₹)

City-wise gold prices in India today

Gold rates across India’s major cities showed remarkable uniformity, with only marginal differences due to local taxes, jeweller margins, and logistics costs.

Gold Price In Indian Cities (₹)

Why is gold price up?

"Gold traded weak as rupee strength of around 0.30% to 89.84 limited gains in the domestic market, pulling MCX gold lower by nearly Rs 900 to Rs 1,38,250 despite relatively steady international prices. Rupee appreciation weighed on local bullion sentiment, even as broader global cues remain mixed," said Jateen Trivedi, VP Research Analyst (Commodity and Currency), LKP Securities.

Read more: Why gold may remain a reliable wealth builder in 2026: 5 trends to watch

Outlook: Will gold continue its momentum this week?

According to Trivedi, the week ahead is data-heavy for the US, with ADP non-farm employment, non-farm payrolls, and initial jobless claims lined up, which could add volatility and direction to gold prices. For now, gold is expected to trade in a volatile range between Rs 1,36,500 and Rs 1,41,000 in the near term.