Gold prices experienced a significant surge of ₹689 on Friday to reach ₹1,52,950 per 10 grams in futures trade, according to The Hindu BusinessLine. The rally was driven by strong spot demand and fresh position building by speculators on the Multi Commodity Exchange. On the MCX, gold contracts for August delivery traded higher by ₹689, or 0.45 per cent, with a business turnover of 1,206 lots. This represents a sharp reversal from the previous session's marginal decline, with the latest 22K gold rate reaching ₹13,675 per gram as of May 6, 2026, as reported by ET Now.
The domestic rally mirrored strong international performance, with gold futures rising 0.91 per cent to $4,728.57 per ounce in New York trading, as reported by The Hindu BusinessLine. This global strength provided additional support to the domestic futures market, with analysts noting that fresh positions built up by participants led to the price increase. The international momentum suggests continued bullish sentiment across global gold markets, supporting the domestic price surge.
Gold chains are priced based on weight, purity, and style, with current 22K rates at ₹13,675 per gram and 18K rates at ₹11,189 per gram. As per the latest market data, a 22g 22K hallmarked chain is worth approximately ₹3,00,850 in gold value, with the calculation taking into account making charges and GST deductions. Most Indian chains sit in the 10-30g range, putting gold value between ₹1,36,750 and ₹4,10,250 at today's 22K pricing. Making charges on chains range from 8-15% of gold value, which is the lowest among jewelry categories.
Gold chains typically weigh between 5-60 grams depending on design and style, with light daily-wear chains ranging 5-12g (₹1,09,400 to ₹1,64,100), standard chains weighing 12-25g (₹1,64,100 to ₹2,18,800), and heavy bridal/statement chains weighing 25-60g+ (₹2,18,800 to ₹4,10,250). Chain styles vary significantly in weight per inch, with plain box chains being the lightest at 0.4-0.7g/inch, while rope and Byzantine chains are the heaviest at 0.8-1.4g/inch. Resale cash values scale linearly with weight, with an 8g chain fetching ₹1,09,400 and a 20g chain fetching ₹2,73,500 at today's rates.
Major jewelry retailers across India are offering gold rates at different price points today. Tanishq is pricing 22K gold at ₹1,40,700 per 10 grams, while Malabar Gold & Diamonds is offering 22K gold at ₹13,995 per gram across major cities. Kalyan Jewellers is selling 22K gold at ₹13,995 per gram in Bengaluru, and Joyalukkas has rates at ₹13,995 per gram for 22K gold. IBJA has released benchmark rates with 24K gold at ₹15,115 per gram, 22K at ₹14,752 per gram, and 18K at ₹12,243 per gram, excluding 3% GST and making charges.
