Gold, silver prices today, 9 October: Check retail rates of 24K, 22K gold, 999 silver in Delhi, Mumbai and Kolkata
Gold and silver prices: The price of the yellow metal in India's retail market rose on Wednesday, 9 October, after US President Donald Trump said the US will not attack Iran before the midterm elections.
Trump on Thursday said that the US will not attack Iran before the 3 November midterm election, explicitly tying the timing of potential further military action to the domestic political calendar. He also added that his administration is having productive discussions with Tehran, according to a CNBC report .
Subsequently, in the international markets, gold firmed on Friday as a softer US dollar and easing Treasury yields boosted bullion’s appeal, while market players weighed lingering inflation concerns and the outlook for Federal Reserve interest rates. Spot gold rose 0.9% to $4,169.32 per ounce by 0137 GMT after hitting a two-month low on Wednesday. US gold futures gained 0.9% to $4,194.40.
Due to these developments, both 24-karat and 22-karat gold rates are showing a marginal increase across major cities in India. Silver prices also rose in the domestic bullion market.
MCX gold rate on 9 October was trading 0.72% higher at ₹ 1,50,990 per 10 grams. MCX silver futures were trading about 1.22% higher at ₹ 2,24,180 per kg at around 9:13 am.
In the retail market, gold is sold in 24-karat and 22-karat purity. While 24-karat gold is considered the purest form, 22-karat gold is commonly used for jewellery because it is more durable.
Here's a look at the latest gold prices across major Indian cities on 9 October.
Shivam writes on personal finance, equity markets, and mutual funds. He has previously contributed to several leading publications, including Moneycontrol. He can be reached at [email protected]
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