Gold prices in India continued their upward trend on Thursday, October 9, following a strong global rally driven by festive demand and geopolitical uncertainty. Prices climbed across all purity levels, reflecting sustained buying interest among investors and jewellers.
According to Goodreturns, the rate of 24-carat gold stood at ₹12,415 per gram, up by ₹22 from the previous session. 22-carat gold was priced at ₹11,380 per gram, higher by ₹20, while 18-carat gold rose by ₹16 to ₹9,311 per gram.
In major cities, gold prices showed similar trends:
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Delhi: ₹12,440 (24K), ₹11,405 (22K)
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Mumbai: ₹12,415 (24K), ₹11,380 (22K)
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Chennai: ₹12,460 (24K), ₹11,420 (22K)
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Kolkata: ₹12,420 (24K), ₹11,385 (22K)
The rally in gold prices comes as global spot gold briefly touched $4,059.05 per ounce earlier this week — a new all-time high — amid rising safe-haven demand and expectations of U.S. interest rate cuts.
The yellow metal continues to be viewed as an inflation hedge, with festive and wedding season purchases in India further supporting domestic demand.
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The information provided is for informational purposes only and should not be considered financial or investment advice. Gold and commodity prices are subject to market fluctuations. Always verify local rates before making purchases. Author or Business Upturn is not liable for any losses arising from the use of this information.