Gold, silver prices today: Check retail rates of 24K, 22K gold, 18K, 999 silver in Delhi, Mumbai, Kolkata, other cities

Gold and silver prices today, 12 July: The price of the yellow metal in India’s retail market plunged this week as compared with last week when it stood at ₹147,850. The fall in bullion comes as investors assessed renewed fighting between the US and Iran. Washington recently launched third round of strikes this week against Tehran after Iran fired “warning shots” at a vessel transiting the Strait of Hormuz.

The escalation in hostilities between the adversaries raises the prospect of the US Federal Reserve interest rate hikes as higher rates are a headwind for bullion, which doesn’t pay interest. Since gold prices do not change on weekends because the global and domestic commodity markets are closed, local jewelers on Sunday, 12 July, will follow prices registered at Friday’s closing rates.

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On 10 July, the price of gold settled at ₹144,020 per 10 grams. Friday evening’s closing rate of 999 fine silver is ₹222,980 per kg. Prices on Bullion Association on India website will only update again when global trading resumes on Monday morning at 9:00 AM. Since 3 July gold price, which is heavily dependent on the international spot market and the USD/INR currency exchange rate, has been largely on a downward trajectory.

Silver prices reflect significant drop of 6.19% since last week. MCX gold rate on 12 July was recorded no change and stood at ₹143,480 per 10 grams while MCX silver futures, on the other hand, stood 0.01 % higher at ₹222,680 per kg. Notably, the yellow metal is down by more than a fifth since the West Asia war started in late February, with a wave of profit-taking ending a three-year bull run.

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World Gold Council’s Gold Mid-Year Outlook 2026 report published in July indicated the possibility of an upward trend toward US $4,500/oz in the face of worsening economic or geopolitical conditions and increased participation from long-term investors.

Here’s a look at the latest gold prices across major Indian cities on 12 July 2026.