MCX Gold Rate in India — September 14, 2026

What the MCX Gold Contract Actually Is

MCX — the Multi Commodity Exchange, headquartered in Mumbai — is India's own commodity futures exchange, and gold is its most heavily traded contract. The standard MCX Gold contract has a trading unit of 1 kilogram, but it's quoted per 10 grams — which is why every MCX gold screen you'll ever see shows a "per 10g" figure rather than a per-gram one. The minimum price movement (tick size) is Re 1 per 10 grams, and the quote itself is Ex-Ahmedabad: it bakes in import duty and customs, but excludes GST.

That last detail matters more than it sounds. An MCX quote is a futures price — an agreed rate for delivery on a set future date, distinct from a same-day spot quote. Trading runs Monday to Friday, roughly 9:00am to 11:30pm or 11:55pm IST depending on the session calendar — the late close tracks US trading hours, since gold is priced continuously somewhere in the world and MCX stays open to reflect that. MetalsCost's own gold benchmark of ₹15,031.44 per gram (as of September 14, 2026) is a separately tracked domestic spot-style price, but it moves in close step with MCX because MCX is the reference India's own bullion trade watches first.

MCX Gold, Gold Mini and COMEX Are Three Different Contracts

"MCX gold" isn't one single thing, and mixing up the variants is a common source of confusion. MCX itself lists more than one gold contract size: the full contract above (1 kg, quoted per 10g) sits alongside a smaller Gold Mini contract built for retail-sized traders — see our Gold Mini MCX page for exactly how that contract differs and who actually trades it.

Then there's COMEX, a different exchange entirely — part of CME Group in the United States, trading gold in US dollars per troy ounce rather than rupees per 10 grams, on a near-continuous US session schedule. MCX and COMEX move in the same broad direction because they're pricing the same underlying metal, but they're not the same instrument. Our COMEX Gold page breaks down the currency, unit and session differences concretely.

Separately, India also has a non-exchange daily benchmark — the rate IBJA publishes each morning and evening. That's a published reference rate, not a tradeable futures contract, and it's worth understanding as a third, distinct number from either MCX or a shop's own quote.

Why an MCX Quote and a Jeweller's Bill Never Line Up Exactly

MCX prices bullion, not finished jewellery. A jeweller's invoice adds making charges (commonly 8–15% of the metal value for plain gold), wastage in some cases, and 3% GST on the combined metal-plus-making-charges value — none of which the exchange quote carries. Our Glossary covers each of those terms in full, and the Jewellery Calculator lets you work the actual math for a specific purity and weight rather than guess at it.

For anyone tracking gold through an ETF, digital gold or a Sovereign Gold Bond instead of buying physical metal, the underlying valuation still follows this same domestic gold market — the exchange-linked rate is the cleanest reference point regardless of which route you eventually buy through.