MCX Gold Price
Live rate & international comparison
The MCX gold price is approximately ₹1,45,718.9 per 10 grams, which is ₹9,533.01 (~7%) above the international spot price of ₹1,36,185.89 per 10 grams. This premium comes from import duty (15%), GST (3%), and futures carry costs. XAUUSD is currently at $4426.41.
| Purity | Per Gram | Per 10 Grams |
|---|---|---|
| 24KPure Gold | ₹13,618.59 | ₹1,36,185.89 |
| 22KJewellery | ₹12,483.71 | ₹1,24,837.07 |
How Does MCX Gold Compare to International Spot?
| Metric | Value |
|---|---|
| XAUUSD (International Spot) | $4426.41 / oz |
| USD/INR Exchange Rate | ₹95.69 |
| Spot Price per 10g (INR) | ₹1,36,185.89 |
| Estimated MCX Price per 10g | ₹1,45,718.9 |
| Premium (Duty + GST + Carry) | ₹9,533.01 (~7%) |
* MCX estimate is approximate. Actual MCX contract prices depend on futures expiry date, open interest volume, and market conditions.
What Makes Up the MCX Premium?
- Import Duty (~15%): Customs duty on gold arriving in India, set by Government of India
- GST (3%): Goods and Services Tax applied on gold sales, including the duty-included price
- Carry Cost (1-2%): Interest cost of holding gold futures until contract expiry
- Exchange Fees: MCX transaction charges, clearing, and SEBI regulatory fees
Frequently Asked Questions
What is the MCX gold price today?
The MCX gold price is shown in the comparison table above. It is approximately 7% above the international XAUUSD spot price converted to INR, due to import duty (15%), GST (3%), and futures carry costs. MCX gold is quoted in INR per 10 grams.
Why is MCX gold more expensive than international gold?
MCX gold includes three cost layers: (1) customs import duty at ~15% of CIF value, (2) GST at 3% on the duty-inclusive price, and (3) futures carry cost (interest rate differential). Together these add approximately 5-8% premium over international spot.
How do you calculate MCX gold from XAUUSD?
MCX Gold ≈ (XAUUSD × USDINR ÷ 31.1035 × 10) × 1.07. The 1.07 multiplier accounts for import duty + GST + carry. Actual MCX prices vary by ±1% based on contract expiry, open interest, and market sentiment.
What are MCX gold trading hours?
MCX gold futures trade Monday to Friday, 9:00 AM to 11:30 PM IST (extended to 11:55 PM on some sessions). This 14.5-hour window covers both Asian and US market hours, allowing Indian traders to react to international price movements in real-time.
What Is MCX and How Does Gold Trading Work?
The Multi Commodity Exchange (MCX) is India's largest commodity derivatives exchange, established in 2003 and regulated by SEBI. Gold is the most traded commodity on MCX, with daily turnover exceeding ₹20,000 crore. Contracts are available in three sizes: standard (1 kg), gold mini (100 grams), and gold guinea (8 grams).
How to Start Trading MCX Gold?
- Open a commodity trading account with a SEBI-registered broker
- Complete KYC verification and deposit margin (typically 5-10% of contract value)
- Choose contract size (1 kg standard, 100g mini, or 8g guinea)
- Place buy/sell orders during trading hours (9 AM - 11:30 PM IST)
- Square off before expiry or opt for physical delivery
Why Do Indian Traders Use MCX Gold?
MCX gold provides leverage (5-10x), long trading hours (9 AM to 11:30 PM IST covering US markets), INR-denominated contracts (no forex risk), and SEBI regulatory protection. For hedging purposes, jewellers and importers use MCX to lock in future gold purchase prices.