Sharp Surge In Gold Rate Today, July 10: Find Out The Latest 24k,22k,18k Gold Prices in Chennai & Hyderabad

Gold rate today in Chennai & gold rate in Hyderabad have risen for the second consecutive day this week, jumping by Rs. 1,000 per 10 grams of 22k gold, which is currently at Rs. 133,500.

Over the past few days, gold rates have been quite volatile, mostly lower since the market due to a drop in demand for the precious metal, since no major festivals or other triggers are impacting gold rates this month.

However, gold prices have become slightly cheaper for buyers this week overall, with 24K gold down roughly Rs 217 per gram from Monday's open to today.

This week's price movement is primarily affected by the global factors, which include the Fed rate-hike fears, the ongoing US-Iran conflict, and the rising dollar.

"Gold and silver retreated as oil prices spiked and inflation fears resurfaced after President Trump declared the US-Iran interim ceasefire "over," following fresh strikes on US military sites in Bahrain and Kuwait," said Prithviraj Kothari, Managing Director at RiddiSiddhi Bullions Ltd., President of India Bullion and Jewellers Association Ltd., and Chairman at Jain International Trade Organisation.

"Crude jumped over 5% on the escalation. Meanwhile, Fed minutes showed a divided committee, with most members preferring to hold rates steady, though a few pushed for a hike. Markets now see a 68% chance of a September rate hike and 87% by January 2027. Technically, gold's $4,080 target has played out, with the next move hinging on US-Iran developments, while silver looks poised to test $55," he further added.

Gold Rate Today in Chennai

Gold rates in Chennai for the 22-carat, the most commonly purchased variety, surged by Rs. 300 to reach Rs. 133,500 per 10 grams. While the 24-carat gold rose by Rs. 330 per 10 grams to touch Rs. 145,640. In a similar vein, 18-carat gold rates in Chennai saw a substantial rise of Rs.900, reaching Rs.111,700 per 10 grams.

For other gold weight categories, prices saw a significant rise. The price of 1 gram of 24-carat gold increased by Rs. 33, bringing it to Rs. 14,564, while 100 grams surged by Rs. 3,300, now priced at Rs. 145,640.

Meanwhile, 1 gram of 22-carat gold in Chennai jumped by Rs. 30 to reach Rs. 13,350, with 100 grams soaring by Rs. 3,000, now priced at Rs. 1,335,000.

Gold Rate in Hyderabad

The 24-carat gold rate in Hyderabad surged by Rs. 380 per 10 grams, now priced at Rs. 144,820. Similarly, the 22-carat gold rate rose by Rs. 350 per 10 grams to retail at Rs. 132,750. The 18-carat gold price in Hyderabad also saw a similar rise, increasing by Rs. 290 per 10 grams to cost Rs. 108,620.

MCX Gold Futures Prices Today

On Friday's trading session, gold futures on the Multi Commodity Exchange are trading 0.43% lower at Rs. 144,676 per 10 grams. While the silver futures prices are down 0.21% at Rs. 226,020 per kg of white metal.

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