Gold and silver rates today, October 9: Gold rebounds, silver rises; WGC data shows strong ETF buying

Gold and silver prices rose on Friday, October 9, ahead of the festive season. Gold was quoted at ₹1,51,080 per 10 grams and silver at ₹2,24,140 per kg in the latest Bullions.co.in update at 10:20 am. Check gold rates in major cities and the latest available prices at Tanishq, Malabar Gold, Joyalukkas and Kalyan Jewellers.

According to Bullions.co.in, 24-carat gold was priced at ₹1,51,080 per 10 grams on Friday morning, up ₹1,170, or 0.78%. Silver 999 fine rose ₹2,670, or 1.21%, to ₹2,24,140 per kg.

In the international market, spot gold rose 1.1% to $4,177.44 an ounce, while spot silver gained 1.4% to $60.16 an ounce, Reuters reported on Friday.

Gold rate today in India: 24K, 22K and 18K gold prices

These are indicative bullion rates. The final price of jewellery may vary depending on the jeweller, local market conditions, making charges and applicable taxes.

Gold rates today in popular cities

Goodreturns listed the following indicative gold rates for major Indian cities on October 9. The rates below are per gram and exclude GST, TCS and other applicable levies.

Jewellers gold rates today, October 9

Gold prices at major jewellery chains can differ from indicative bullion rates. The following are the latest available rates verified from the October 8 update; they should not be treated as independently confirmed October 9 prices.

Jewellery prices may vary by location and product. Making charges, taxes and other applicable costs can increase the final bill.

Silver rate today in India

Silver prices also moved higher on Friday morning. According to Bullions.co.in, silver 999 fine rose to ₹2,24,140 per kg as of 10:20 am.

The quoted prices are indicative national bullion rates. City-wise retail prices may differ, and the final price of silver articles can include additional charges and applicable taxes.

Silver rates today in popular cities

Silver prices are generally quoted by weight and purity, but the final price paid by consumers can vary across local markets and retailers.

The latest national bullion rate available from Bullions.co.in was ₹2,24,140 per kg for 999 fine silver. Separate, verified October 9 rates for Delhi, Mumbai, Chennai, Kolkata and other cities were not available in the supplied data, so city-specific prices have not been estimated.

Why are gold and silver prices rising today?

Gold gained support on Friday as the US dollar weakened, Treasury yields eased and crude oil prices declined. These factors helped precious metals recover after their recent losses, Reuters reported.

In India, gold had already rebounded sharply on Thursday. According to the All India Sarafa Association, the price of 99.9% purity gold in New Delhi rose ₹3,600 to ₹1,52,500 per 10 grams, inclusive of taxes, after two sessions of declines.

Silver, however, had fallen ₹3,000 to ₹2,24,000 per kg on Thursday, according to the same report.

The contrasting moves underline the volatility in precious metals this week. Although prices recovered in Friday's international trade, the market outlook remains sensitive to US interest-rate expectations, currency movements and geopolitical developments.

What does the World Gold Council say about gold demand?

The World Gold Council's September market commentary showed that investment demand remained strong despite the decline in gold prices.

Gold ended September at $4,176 an ounce, down 8.5% from the previous month. The council attributed the correction to rising US Treasury yields, a stronger dollar and a reduction in futures positions.

Despite the fall, global gold exchange-traded funds attracted $10 billion in inflows during September, equivalent to 67 tonnes. Indian gold ETFs recorded inflows of $496 million, or 3.1 tonnes, during the month.

The figures suggest that some investors continued to use gold to diversify their portfolios even as prices corrected.

Consumers planning festive purchases should compare prices across jewellery chains and local retailers rather than relying on a single quoted rate. For gold jewellery, it is important to check the purity, making charges and final bill. Buyers of silver should also confirm the product's purity and weight.

Bullion prices and city-wise retail rates may use different benchmarks and calculation methods. Consumers should check the rate quoted by their local jeweller before making a purchase.