Gold, Silver Price Volatility Continues: Middle East Conflict Triggers Market Fluctuations; Check July 10 Rates in Your City
Precious metals continue to show major movement across domestic commodity boards. Gold and silver prices opened lower on the Multi Commodity Exchange (MCX) on Friday, July 10, 2026, extending a volatile consolidation phase as global macro traders adjust their positions in response to shifting geopolitical dynamics in the Middle East following recent US military actions in Iran.
MCX Data Snapshot: Futures Feel the Selling Pressure
According to Multi Commodity Exchange tracking data, gold futures for the active August 5 contract opened soft on the MCX at 145,200 rupees per 10 grams, sliding down from the previous session's close of 145,392 rupees. By mid-morning trading cycles, the yellow metal hovered at 145,000 rupees per 10 grams, marking a net intraday drop of 0.27%. The contract touched an immediate session low of 144,750 rupees against a peak high of 145,356 rupees.
Concurrently, silver futures for the upcoming September 4 settlement faced liquidations in early trade. The industrial white metal fell 0.83% to 229,401 rupees per kg, recovering slightly after hitting an intraday low of 228,925 rupees per kg. Analysts note that a recovering US Dollar Index and shifting Treasury yields are currently balancing safe-haven demand for bullion.
Retail Gold Rates Per Gram Across India (INR)
The following matrix outlines the standardised retail pricing benchmark for physical gold across the country as of July 10, 2026 (excluding local GST and making charges):
| Weight | 24K Pure Gold | 22K Standard Gold | 18K Designer Gold |
|---|---|---|---|
| 1 Gram | 14,445 rupees | 13,241 rupees | 10,834 rupees |
| 8 Grams | 1,15,560 rupees | 1,05,928 rupees | 86,672 rupees |
| 10 Grams | 1,44,450 rupees | 1,32,410 rupees | 1,08,340 rupees |
| 100 Grams | 14,44,500 rupees | 13,24,100 rupees | 10,83,400 rupees |
City-Wise Gold Tariff Breakdown (Per 1 Gram)
Due to varying local market premiums, transportation costs, and regional bullion association policies, spot gold pricing displays minor variations across major municipal hubs:
| Major Indian City | 24K Gold (1g) | 22K Gold (1g) | 18K Gold (1g) |
|---|---|---|---|
| Chennai | 14,532 rupees | 13,321 rupees | 11,081 rupees |
| Mumbai | 14,445 rupees | 13,241 rupees | 10,834 rupees |
| New Delhi | 14,460 rupees | 13,256 rupees | 10,849 rupees |
| Kolkata | 14,445 rupees | 13,241 rupees | 10,834 rupees |
| Bangalore | 14,445 rupees | 13,241 rupees | 10,834 rupees |
| Hyderabad | 14,445 rupees | 13,241 rupees | 10,834 rupees |
| Kerala | 14,445 rupees | 13,241 rupees | 10,834 rupees |
| Ahmedabad | 14,450 rupees | 13,246 rupees | 10,839 rupees |
| Lucknow | 14,460 rupees | 13,256 rupees | 10,849 rupees |
Physical Silver Spot Rates Stable Amid Volatility
While paper contracts on the futures exchange remain under stress, physical spot silver retail listings across key urban centres settled at 234.90 rupees per gram and 234,900 rupees per kilogram.
Retail demand for silver ornaments and industrial bars remains steady, with bullion counters in Chennai, Hyderabad, and Kerala logging a localised premium of 2,449 rupees per 10 grams due to immediate, high-volume wedding-season requests, while cities like Mumbai and New Delhi stand at 2,349 rupees per 10 grams.
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