MCX Commodity Rates Today
Live Gold, Silver, Copper and Crude Oil prices on India’s Multi Commodity Exchange (MCX) — converted to Indian Rupees. Updated every 60 seconds.
Data as of 25 Jul 2026 — USD/INR rate: ₹96.56
About MCX Commodity Rates
The Multi Commodity Exchange (MCX) is India’s largest commodity derivatives exchange, headquartered in Mumbai. Established in 2003, MCX facilitates trading in metals (gold, silver, copper, aluminium, zinc, lead, nickel), energy (crude oil, natural gas), and agricultural commodities. MCX gold and silver contracts are the primary price reference used by Indian jewellers and bullion traders to set their daily retail rates.
Gold (MCX)
MCX gold is quoted in Indian Rupees per 10 grams for standard 1 kg lots. The MCX gold price is derived from COMEX gold futures (GC) in USD per troy ounce, converted to INR using the live USD/INR spot rate, and adjusted for India’s import duty structure. The IBJA (Indian Bullion and Jewellers Association) uses the MCX settlement price to publish its daily reference rates, which retail jewellers use as their base gold rate.
Silver (MCX)
MCX silver is quoted in INR per kilogram for standard 30 kg lots. It tracks COMEX silver (SI) in USD per troy ounce. Silver’s industrial demand — from solar panels, electric vehicles, and electronics — makes it more volatile than gold and often produces larger percentage moves.
Copper (MCX)
MCX copper is quoted in INR per kilogram and tracks COMEX copper futures (HG) in USD per pound. Copper is often called “Dr. Copper” because its price is viewed as a leading indicator of global economic health — rising copper prices signal expanding industrial activity, while falling prices suggest economic slowdown. India is a significant copper consumer through its electrical wiring, plumbing, and electronics sectors.
Crude Oil (WTI/MCX)
Crude oil on MCX is settled against NYMEX WTI crude (CL) in USD per barrel, converted to INR. India imports over 85% of its crude oil needs, making crude prices a critical input for the economy — directly affecting fuel prices (petrol, diesel, LPG) and indirectly impacting inflation and the current account deficit. Brent crude (the North Sea benchmark) is typically $1–$3 per barrel higher than WTI.
MCX Commodity Rates — Frequently Asked Questions
What is MCX and how does it set commodity prices?
The Multi Commodity Exchange (MCX) is India’s primary commodity derivatives exchange, regulated by SEBI. Commodity futures contracts on MCX are priced based on international spot and futures prices (COMEX for metals, NYMEX for crude oil) converted to Indian Rupees using the prevailing USD/INR exchange rate. Making charges, GST, import duty, and local supply-demand factors further influence retail prices above the MCX base rate.
How is the gold rate in India related to MCX prices?
Retail jewellers in India use the MCX gold settlement price as their base rate, to which they add making charges (8–25%), 3% GST, and their own margin. The IBJA publishes a daily rate based on MCX settlements, which is widely used as a reference. This is why you will see the MCX gold rate quoted “per 10 grams” — the standard jewellery purchase weight in India — rather than per troy ounce as in international markets.
What are MCX trading hours?
MCX commodity markets are open from 9:00 AM to 11:30 PM IST on weekdays. The extended hours (up to 11:30 PM) allow Indian traders to participate in global commodity price moves during US market trading hours (which overlap with Indian evening hours). Commodity prices at 11:30 PM IST are the day’s settlement prices used for IBJA rate announcements.
Why does copper price matter to India?
India is among the world’s largest consumers of copper, driven by massive infrastructure investment (power transmission lines, real estate wiring), consumer electronics, and EV adoption. Rising copper prices increase the cost of construction and manufacturing. India imports a significant share of its copper in refined form from Chile, Zambia, and Japan, making the INR/USD rate and global copper supply a key factor in domestic copper prices.
How does crude oil price affect the Indian economy?
India imports over 85% of its crude oil. Higher crude prices widen the current account deficit, weaken the Rupee, and raise fuel and fertiliser prices — which feed through to broader inflation. The RBI takes crude oil prices into account in its monetary policy decisions. For consumers, crude oil prices determine petrol and diesel prices at the pump and also affect LPG cylinder prices and aviation fuel costs.