Spot gold opens higher Friday amid falling rates on MCX, COMEX platforms
This story was originally published at 15:16 IST on 10 July 2026
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By Abhijit Doshi
MUMBAI – The all-India average spot price of gold of 99.9% purity opened at INR 143,815 per 10 grams, up from Thursday's close of INR 143,656 per 10 grams. This included a discount of INR 5,000 per 10 grams offered by jewellers at higher prices, market sources said.
Gold prices on the Multi Commodity Exchange of India and COMEX were lower Friday. At 1423 IST, the futures contract for August on MCX trading at INR 144,001 per 10 grams, down 0.89% from its previous close. The same month contract on COMEX was at $4,105.9 per ounce, down 0.85%.
At 1350 IST, the polled spot price of gold on MCX was INR 143,727 per 10 grams.
"Gold prices remained under pressure and were on track for a weekly decline as renewed military escalation between the US and Iran strengthened the US dollar and revived concerns over persistent inflation, reinforcing expectations that Fed could keep interest rates elevated for longer," Motilal Oswal said in a report.
Although reports suggested regional mediators were attempting to revive recently signed US-Iran MoU, uncertainty surrounding geopolitical situation kept oil prices volatile and inflation concerns elevated, the brokerage added.
The rupee erased some gains Friday as banks bought dollars for importers, who feared a further rise in crude oil prices after a fragile ceasefire between the US and Iran was shattered, which weighed on the Indian currency, they said. At 1350 IST, the rupee was 95.3550 per dollar, up from 95.3875 at the close of the previous day. End
US$1 = INR 95.38
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Akul Nishant Akhoury
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