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Gold Spot Price — 10-Day Trend (Futures Reference)
All prices in ₹ per gram · daily rate, updated once per day
What a Gold Futures Contract Actually Is
A gold futures contract is an agreement, standardized and cleared through an exchange, to buy or sell a fixed quantity of gold at a fixed price on a set future date. It's a product type, not a single number — in India it's traded mainly on the MCX in a few sizes: the standard 100-gram contract, a smaller Gold Mini, and an even smaller Gold Petal contract for traders who want exposure without the full-size margin outlay. The spot gold price below, ₹15,031.44 per gram as of September 14, 2026, is the underlying reference every futures contract is priced off — but the contract price itself is a separate, tradable number that can sit above or below it.
Margin: why futures need far less capital than buying gold outright
You don't pay the full contract value to open a futures position — you post margin, a fraction of it set by the exchange and revised periodically as volatility changes. That's what gives futures leverage: a small move in gold can produce a proportionally larger move in your account balance, in either direction. The exchange marks every open position to market at the end of each session, crediting or debiting the day's gain or loss directly. If losses push your margin below the maintenance level, your broker issues a margin call — top it up, or the position gets squared off.
- 24K gold spot (1 gram): ₹15,031.44
- 10 grams (24K): ₹150,314.40
- 100 grams (24K) — standard MCX contract size: ₹1,503,143.98
That 100-gram figure is a useful anchor: it's roughly the notional value of one standard MCX gold futures contract, though what you actually put down to trade it is a margin, not that full amount.
Gold Price by Weight — Futures Reference
Today's Gold rate is Fifteen Thousand Thirty One Rupees per gram. At this rate, 10 grams of Gold costs One Lakh Fifty Thousand Three Hundred and Fourteen Rupees.
| Unit | Weight | Price (INR) | Price in Words |
|---|---|---|---|
| 1 Gram | 1.0000 g | ₹15,031.44 | Fifteen Thousand Thirty One Rupees |
| 8 Grams | 8.0000 g | ₹120,251.52 | One Lakh Twenty Thousand Two Hundred and Fifty Two Rupees |
| 10 Grams | 10.0000 g | ₹150,314.40 | One Lakh Fifty Thousand Three Hundred and Fourteen Rupees |
| 100 Grams | 100.0000 g | ₹1,503,143.98 | Fifteen Lakh Three Thousand One Hundred and Forty Four Rupees |
| 1 Kilogram | 1,000.0000 g | ₹15,031,439.79 | One Crore Fifty Lakh Thirty One Thousand Four Hundred and Forty Rupees |
| 1 Ounce (oz) | 28.3495 g | ₹426,133.80 | Four Lakh Twenty Six Thousand One Hundred and Thirty Four Rupees |
| 1 Troy Ounce | 31.1035 g | ₹467,530.39 | Four Lakh Sixty Seven Thousand Five Hundred and Thirty Rupees |
| 1 Metric Ton | 1,000,000.0000 g | ₹15,031,439,791.00 | One Thousand Five Hundred and Three Crore Fourteen Lakh Thirty Nine Thousand Seven Hundred and Ninety One Rupees |
Expiry and What Happens If You Hold to the End
Every futures contract carries a fixed expiry date, typically monthly. The overwhelming majority of retail futures positions are closed out — bought back or sold off — before that date arrives, because very few traders actually want to take delivery of gold bars. A contract that does run to expiry gets settled either by physical delivery through the exchange's accredited vaults, or in cash, depending on how that specific contract is structured. Either way, the mechanics are set by the exchange in advance — nothing about expiry is negotiable mid-contract.
Why the futures price isn't just "today's spot price with a label"
A futures price is built from spot gold plus the cost of carry — the financing cost, storage, and insurance that holding physical gold until the contract's expiry would notionally require. When the futures price sits above spot for this reason, traders call it contango; the opposite, less typical for gold, is backwardation. This gap is usually small and narrows automatically as the expiry date approaches, since the remaining carry cost shrinks the closer you get to settlement.
This is a different question from what moves gold's spot price day to day — global demand, the dollar, central bank buying, and so on. Those factors set the spot rate; the cost of carry then determines how far a given futures contract trades from it. A trader watching a near-month MCX contract is really watching both layers at once, even if the screen shows one number.
For the specifics of the live MCX gold contract — its current traded price, lot sizes, and India-exchange trading hours — that's covered on our dedicated MCX Gold Rate page. This page is about how a futures contract works as a financial product, wherever it's traded.
Gold Price History — Last 10 Sessions
The most recent Gold price on record (2026-09-14) is Fifteen Thousand Thirty One Rupees per gram. This is down by Two Hundred and Sixty Nine Rupees from the previous day's rate of ₹15,300.41.
| Date | Price (INR/g) | Change |
|---|---|---|
| 2026-09-14 | ₹15,031.44 | -268.97 |
| 2026-09-13 | ₹15,300.41 | 0.00 |
| 2026-09-12 | ₹15,300.41 | -46.74 |
| 2026-09-11 | ₹15,347.15 | +66.38 |
| 2026-09-10 | ₹15,280.77 | -141.47 |
| 2026-09-09 | ₹15,422.24 | +121.11 |
| 2026-09-08 | ₹15,301.14 | -1.46 |
| 2026-09-07 | ₹15,302.59 | -8.75 |
| 2026-09-06 | ₹15,311.34 | 0.00 |
| 2026-09-05 | ₹15,311.34 | — |
Futures vs Other Ways to Hold Gold
Futures are built for traders who want short-term, leveraged exposure and are comfortable managing margin calls and an expiry date. That's a genuinely different job from long-term gold ownership, and the two shouldn't be confused.
If you want price exposure without leverage or an expiry to track, a Gold ETF holds physical gold in a vault and trades like a share, with no margin calls. A Sovereign Gold Bond goes further, paying a fixed 2.5% annual interest on top of any price move — though the government stopped issuing new SGB tranches after February 2024, so that route now means buying an existing bond on the exchange rather than a fresh one. Digital gold needs no demat account at all and suits very small, frequent purchases, at the cost of a wider spread and lighter regulation than an ETF.
None of these alternatives carry the leverage or the expiry risk a futures contract does — which is exactly the point. Futures amplify both gains and losses and demand active monitoring; the other three are built to be held and largely left alone.
Gold Futures — How They Work
A standardized, exchange-traded agreement to buy or sell a fixed quantity of gold at a set price on a future expiry date. In India, gold futures trade mainly on the MCX (Multi Commodity Exchange), which lists several contract sizes — a full-size 100-gram contract down to smaller Gold Mini and Gold Petal contracts for lower ticket sizes.
Margin is the deposit you put up to open a futures position — a fraction of the full contract value, not the whole amount, which is what gives futures their leverage. The exchange marks your position to market daily, so gains and losses are credited or debited to your account each day; if losses erode your margin below a set threshold, your broker will ask you to top it up or square off the position.
Each contract has a fixed expiry date, typically monthly. Most traders close their position before expiry rather than take delivery. Contracts that stay open to expiry are settled either by physical delivery (through the exchange's accredited vaults) or in cash, depending on the contract's specification — most retail futures trading never reaches this stage.
A futures price reflects spot gold plus the "cost of carry" — the financing, storage and insurance cost of holding physical gold until the contract's expiry date. When futures trade above spot for this reason, it's called contango; the reverse, less common for gold, is backwardation. The gap tends to narrow as expiry approaches.
Related, but not the same page. This page explains futures as a product — margin, expiry, how the price is built. For the live MCX gold contract price itself and India-exchange-specific detail, see our MCX Gold Rate page.
Generally no. Futures are built for active trading — leverage cuts both ways, and an open position needs margin monitoring and an expiry decision every contract cycle. A long-term holder is usually better served by a Gold ETF or a Sovereign Gold Bond, neither of which has an expiry or a margin call.
