# Diwali Spot Gold Prices Hold Firm as MCX Schedules Special Muhurat Trading Session

> Physical gold rates across Indian metropolitan hubs remained steady on main Diwali, while commodity exchanges prepared for the auspicious one-hour Muhurat trading session.

**Type:** article · **Category:** Market · **Published:** 2026-11-08 · **Source:** TrendKia
**Canonical:** https://trendkia.com/en/market/divali-ke-mauke-para-sthira-rahe-sone-ke-khudara-bhava-janie-vishesha-muhurat-trading-ka-samaya-aura-pramukha-shaharon-ke-reta-57850 · **Language:** English
**Tags:** Gold Rates, Silver Rates, MCX, Muhurat Trading, Diwali, Commodities

Retail gold prices across major Indian bullion markets held steady on Sunday, November 8, 2026, coinciding with the auspicious festival of Badi Diwali. Spot prices for 24-carat bullion maintained their ground above Rs 1,43,500 per 10 grams in top consumption centres. Alongside physical purchases driven by traditional rituals honouring the goddess Lakshmi, financial market participants prepared for the annual Muhurat trading session on the Multi Commodity Exchange, giving traders an opportunity to initiate fresh positions for the upcoming accounting year.

## Schedule and Settlement Details for Muhurat Trading at MCX
Matching the long-standing customs of equity bourses like BSE and NSE, the commodity bourse MCX scheduled its special Muhurat trading window during the auspicious festival hours. The core trading session runs from 2:20 PM to 3:30 PM. This follows a preliminary pre-market session scheduled between 2:05 PM and 2:19 PM, while terminal client code modification remains permissible until 3:45 PM.

In an official regulatory notification, the MCX Clearing Corporation confirmed that trades conducted during the Sunday special session will settle on Monday, November 9. In line with the clearing body's guidelines, Daily Mark to Market and premium settlements operate on a standard T+1 banking day cycle. The clearing mechanism executes transactions by dispatching direct debit and credit instructions to designated clearing banks associated with clearing members.

## Metropolitan Retail Rates Across Purity Categories
Consumer demand historically peaks around Diwali, with gold remaining an enduring symbol of wealth preservation across Indian households. On Sunday, physical prices displayed slight geographical variation, with retail counters in New Delhi recording the highest price tag nationally. In Delhi, 24-carat fine gold sold at Rs 14,360 per single gram and Rs 1,43,600 per 10 grams. Jewel-grade 22-carat gold traded at Rs 13,175 per gram and Rs 1,31,750 per 10 grams, while 18-carat gold stood at Rs 10,783 per gram and Rs 1,07,830 per 10 grams.

Across other primary metropolitan centers including Mumbai, Chennai, Kolkata, Bengaluru, Hyderabad, Pune, and hubs throughout Kerala, prices aligned at uniform tiers across all purities. In these markets, 24-carat bullion (99.9% purity) stood at Rs 14,357 per gram, Rs 1,43,570 per 10 grams, and Rs 14,35,700 per 100 grams. Standard 22-carat jewelry gold (91.6% purity) was quoted at Rs 13,160 per gram, Rs 1,31,600 per 10 grams, and Rs 13,16,000 per 100 grams. The more accessible 18-carat grade (75% purity) changed hands at Rs 10,768 per gram, Rs 1,07,680 per 10 grams, and Rs 10,76,800 per 100 grams.

## Macroeconomic Headwinds and Overseas Market Dynamics
Domestic futures exhibited downward pressure ahead of the festive session. On Friday, MCX gold futures fell by 1.20% to settle below Rs 1,42,400 per 10 grams, while MCX silver nudged up slightly to Rs 1,84,977 per kilogram. In global spot dealings, bullion slid 0.4% overnight to hover above $4,070 per ounce, whereas spot silver gained 0.2% to trade around $51.88 per ounce, staying slightly underneath the $52 threshold.

The pullback across precious metals followed a pronounced rebound in the US dollar after robust macroeconomic indicators. The US Department of Labor's nonfarm payrolls report showed an addition of 165,000 jobs in October, surpassing the consensus projection of 65,000 by a wide margin. Simultaneously, the US unemployment rate dropped unexpectedly to 4.1%, while cumulative payroll readings for the preceding two months received an upward revision of 84,000 positions. Wage growth also gathered pace, with average hourly earnings advancing by 0.4% against estimates of 0.3%.

Stronger economic metrics renewed market speculation that the Federal Reserve could implement an interest rate hike during its upcoming monetary policy meeting. Upward movement in energy commodities added further momentum to inflationary expectations, as US WTI crude oil traded near $91 per barrel and global benchmark Brent crude surpassed $98 per barrel. Despite the Friday correction, spot gold concluded the full week with gains exceeding 4%, buoyed earlier by safe-haven capital reallocations following the Democratic sweep in the US midterm elections that spurred rotation out of AI equities into defensive holdings.

## What this means for you
Steady physical gold rates alongside scheduled festive commodity trading offer predictability to festive jewelry shoppers and market traders.

- **Across India for retail buyers:** Steady physical bullion prices on Diwali ensure that retail shoppers will not encounter sudden price surges during Lakshmi puja purchases. 24-carat gold stands at Rs 1,43,600 per 10 grams in Delhi and Rs 1,43,570 per 10 grams across Mumbai, Chennai, and other major cities.
- **For commodity traders:** Investors placing orders during the MCX Muhurat trading window from 2:20 PM to 3:30 PM on Sunday will see their trades settle on Monday under the T+1 banking cycle. Clearing member accounts will execute debit and credit instructions on November 9 through clearing corporation channels.
- **For asset allocators:** Stronger US employment numbers and higher Treasury yields strengthen the dollar, presenting near-term resistance to bullion's rapid upside. Long-term wealth allocators balancing safe-haven assets will need to weigh ongoing energy price spikes and upcoming monetary tightening signals.
- **For jewelry retailers:** Price stability throughout the core festival period simplifies inventory turnover and provides clear billing rates for consumers. Steady pricing reduces volatility risks for fabricators managing retail delivery pipelines during heavy seasonal volume.

## Why this happened
A sharp beat in US employment metrics alongside rising energy prices drove the US dollar higher, capping gold's weekly advance and creating downward friction on futures.

- **Robust US nonfarm payrolls:** The US economy generated 165,000 positions in October against forecasts of 65,000, while the unemployment rate slid to 4.1%. This resilient employment expansion strengthened the greenback and triggered short-term liquidations in precious metals.
- **Federal Reserve rate hike expectations:** Average hourly earnings grew by 0.4%, surpassing consensus projections of 0.3%. Tight labor conditions fueled expectations that the central bank will raise interest rates at its upcoming meeting, denting demand for non-yielding bullion.
- **Surging crude oil benchmarks:** WTI crude approaching $91 per barrel and Brent trading above $98 per barrel re-ignited inflationary pressures. These renewed energy spikes reinforced expectations of prolonged monetary tightening across global financial centers.
- **Weekend profit taking:** Gold had gained over 4% across the week as capital rotated away from AI equities into defensive havens following US midterm election outcomes. Strong Friday macro data prompted institutional investors to lock in weekly profits ahead of the weekend.

## Questions & Answers

### 1. What were the prevailing gold prices in Delhi on Diwali?
In Delhi, 24-carat gold was priced at Rs 14,360 per gram (Rs 1,43,600 per 10 grams), and 22-carat gold stood at Rs 13,175 per gram (Rs 1,31,750 per 10 grams).

### 2. What is the schedule for the MCX Diwali Muhurat trading session?
The MCX Muhurat trading session runs from 2:20 PM to 3:30 PM on Sunday, preceded by a pre-market window between 2:05 PM and 2:19 PM.

### 3. When will trades executed during the Sunday Muhurat session be settled?
According to the clearing corporation circular, all trades executed on Sunday, November 8, will settle on Monday, November 9, on a T+1 banking day cycle.

### 4. What were the spot prices for gold and silver in international markets?
Spot gold dropped 0.4% to hold above $4,070 per ounce, while spot silver rose 0.2% to trade near $51.88 per ounce.

### 5. Why did precious metals experience downward pressure ahead of the weekend?
Stronger-than-expected US nonfarm payrolls of 165,000 boosted the US dollar and elevated bets that the Federal Reserve could raise interest rates next month.

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