Rates of precious metals in futures opened lower on Wednesday, July 10, 2026, amid a fall in spot demand and fresh US-Iran tensions. The gold August 5 contract on the Multi Commodity Exchange (MCX) opened with a drop of Rs 410 or 0.28 per cent at Rs 1,44,890 per 10 grams against the previous close of Rs 1,45,300. It fell further to an intraday low of Rs 1,44,400, down Rs 900 or 0.61 per cent. In between, it touched an intraday high of Rs 1,45,061. Last seen, it was trading at Rs 1,44,430, down Rs 870 or 0.60 per cent.
On the MCX, the yellow metal futures for October 2026 were down by Rs 1,161 or 0.78 per cent to trade at Rs 1,47,348 per 10 grams in business turnover of 3402 lots.
“MCX Gold opened with a mild gap down and is trading near the ₹1,45,000 mark, reflecting a cautious undertone. Immediate support is placed at ₹1,44,000–₹1,43,600, followed by the ₹1,43,000–₹1,42,500 zone. On the upside, immediate resistance is placed at ₹1,45,000–₹1,45,500, while a sustained move above this zone could extend the recovery toward ₹1,46,200–₹1,46,600. Overall, the near-term outlook remains cautious, with prices needing to break above the immediate resistance zone to improve momentum,” Ponmudi R, CEO of Enrich Money.
Silver Price On MCX
Similarly, the silver futures, maturing on September 4, 2026, opened almost flat. It began the trading session at Rs 2,26,368 against the previous close of Rs 2,26,377, a drop of Rs 9 or 0.36 per cent. It later fell to the intraday low of Rs 2,22,600. Last seen, it was trading at Rs 2,23,075 with a drop of Rs 3,302 or 1.46 per cent.
Gold Price in the International Market
In the international market, the COMEX gold price slipped 0.64 per cent to approximately USD 4,114.5 per troy ounce. The spot gold price at 12 noon was USD 4,106.36 per ounce, down by USD 25.54 or 0.62 per cent.
