# Bullion Prices Surge Ahead of Festive Season as Gold and Silver Gain on MCX

> Gold futures climbed to Rs 1,52,790 per 10 grams on the Multi Commodity Exchange, while silver surged over Rs 729 per kilogram.

**Type:** article · **Category:** Market · **Published:** 2026-09-23 · **Source:** TrendKia
**Canonical:** https://trendkia.com/en/market/tyohari-sijana-se-thika-pahale-sarrapha-bajara-men-teji-gold-aura-silver-donon-ke-bhava-charhe-36890 · **Language:** English
**Tags:** Gold Price, Silver Price, MCX, Bullion Market, Precious Metals, Commodity Market

Precious metal rates in the domestic derivatives segment have resumed their upward trajectory just ahead of the festive season. On September 23, trading across the Multi Commodity Exchange witnessed noticeable buying interest in both gold and silver contracts. Futures of 24-karat gold with 99.9 percent purity consolidated firmly around the Rs 1.52 lakh mark per 10 grams, accompanied by an equally sharp uptick in silver prices.

## Gold Futures Advance on MCX
The current upward movement in bullion builds directly upon the gains recorded in the preceding trading session. On MCX, gold had advanced by Rs 696 to settle at Rs 1,52,716 per 10 grams on the previous day. Carrying that momentum into Wednesday morning, gold opened higher by nearly Rs 80. By 10.50 AM, the session contract recorded a net advance of Rs 74, changing hands at Rs 1,52,790 per 10 grams.

## Silver Rallies Towards Rs 2.41 Lakh Mark
Silver witnessed an identical pattern of early morning buying, rising close to Rs 1,000 before paring minor gains. The metal briefly approached the Rs 2.41 lakh per kilogram mark in early trade. While morning trades saw silver climb by more than Rs 900, the advance moderated to Rs 729 by 10.50 AM, leaving the MCX contract at Rs 2,40,642 per kilogram. The persistent strength in domestic contracts highlights firm underlying physical and festive demand across spot and futures markets.

## What this means for you
The sudden surge in gold and silver prices right before the festive period increases retail expenditure for jewellery shoppers and physical bullion buyers.

- **For Jewellery Shoppers:** Gold contracts touched Rs 1,52,790 per 10 grams while silver reached Rs 2,40,642 per kilogram on MCX. Consumers planning purchases for festive gifting or weddings will encounter elevated acquisition costs and higher net making expenses.
- **For Commodity Traders:** Gold registered a net morning gain of Rs 74 while silver rose by Rs 729 per kilogram. Derivatives participants must navigate intraday volatility with strictly defined risk parameters.
- **For Retail Investors:** Sustained momentum in precious metals supports asset valuations across gold exchange-traded funds and physical holdings. Investors holding bullion allocations benefit from capital appreciation during this run-up.
- **For Bullion Jewellers:** Heightened prices often restrain transaction volume among middle-class retail buyers. Retail showrooms may pivot towards lightweight inventory and promotional discounting on craftsmanship charges to sustain customer footfall.

## Why this happened
The continuous climb in domestic gold and silver derivatives reflects sustained trading momentum alongside preparatory procurement ahead of the Indian festive season.

- **Positive Carryover Momentum:** Gold had already advanced by Rs 696 in the preceding session to close at Rs 1,52,716 per 10 grams. That strong settlement tone provided a technical cushion, prompting buyers to add fresh long positions on Wednesday morning.
- **Seasonal Domestic Accumulation:** The approaching festive calendar typically spurs stock replenishment by jewellers and fabricators. Expectations of heightened festive consumption bolstered sentiment across spot and futures channels.
- **Industrial and Safe-Haven Demand in Silver:** Silver briefly gained over Rs 900 in early morning trade, testing the Rs 2.41 lakh per kilogram mark. Simultaneous industrial off-take and retail accumulation reinforced the upward trajectory in commodity trade.

## Questions & Answers

### 1. What was the gold price on MCX on September 23?
Gold rose by Rs 74 to trade at Rs 1,52,790 per 10 grams by 10.50 AM on September 23.

### 2. How much did silver gain during the morning session?
Silver gained Rs 729 to trade at Rs 2,40,642 per kilogram by 10.50 AM.

### 3. At what level did gold settle in the previous session?
Gold settled at Rs 1,52,716 per 10 grams in the previous session after climbing Rs 696.

### 4. What purity standard does this gold rate represent?
This futures quotation represents 24-karat gold with 99.9 percent purity.

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