Gold Prices Surge as US-Iran Tensions Ebb

9-carat gold has gained popularity in recent years as gold prices have reached record highs. However, for the average person, it's unclear whether buying 9K yellow metal jewelry is worth the investment or if traditional 24K and 22K gold should be chosen instead.

Globally, gold prices rose on Monday following a pause in the US-Iran conflict and a slight decrease in oil prices. Meanwhile, investors awaited the US Federal Reserve's monetary policy decision scheduled for Wednesday.

At the Multi Commodity Exchange of India, gold traded 0.56% higher at Rs 1,43,911, while US Spot gold was trading over $4,000 per ounce around 1400 IST on Monday. In contrast, gold rate in India (retail) for 24K rose by Rs 930 to Rs 1,45,860 for 10 grams.

9 carat gold is made up of 37.5% pure gold and 62.5% other metals like copper or silver, making it stronger for everyday wear.

Jewellers such as Mia by Tanishq and Palmonas have opted for this type of gold ornament due to its lower cost compared to high-karat gold and soft yellow color. A hallmark is usually given in most 9 carat jewellery to provide credibility to the metal.