On Wednesday, 9 October, gold and silver prices in India's retail market saw a rise following geopolitical developments. US President Donald Trump's statement that the US would not attack Iran before the 3 November midterm elections contributed to this upward trend. His remarks, reported by CNBC, included mention of productive discussions with Tehran, easing some market tensions.
Internationally, gold prices firmed as a softer US dollar and easing Treasury yields boosted its appeal. Spot gold rose 0.9% to $4,169.32 per ounce, recovering from a two-month low. US gold futures also gained 0.9%, reaching $4,194.40. These international trends influenced domestic markets, leading to marginal increases in both 24-karat and 22-karat gold rates across major Indian cities.
Silver prices also rose in the domestic bullion market. On MCX, gold futures were trading 0.72% higher at ₹1,50,990 per 10 grams, while silver futures were up about 1.22% at ₹2,24,180 per kg. In the retail market, gold is typically sold in 24-karat (the purest form) and 22-karat (more durable and commonly used for jewellery) purity.
Here are the latest gold and silver prices across major Indian cities on 9 October: In New Delhi, 24-karat gold was priced at ₹150,460 per 10 grams, and 22-karat gold at ₹137,922 per 10 grams, with silver at ₹223,390 per kg. Mumbai saw similar trends, with 24-karat gold at ₹150,720 per 10 grams and 22-karat gold at ₹138,160 per 10 grams, while silver was priced at ₹223,770 per kg. Other cities like Bengaluru, Kolkata, Hyderabad, and Chennai also reflected these upward movements in gold and silver prices.