Big Jump In India Gold Rates Today; 24K Gold Now Rs.14,700 Costlier; Silver Rates Flat On June 9

Gold prices in India surged today, snapping a multi-day losing streak and making the precious metal more expensive for buyers. This is the first increase in gold rates this week after prices had declined by nearly Rs. 53,500 per 100 grams over the past eight days.

The sharp rise in gold prices today can be due to the rise in demand in the ongoing wedding season in India.

International factors are also supporting domestic gold prices.Spot gold traded above $4,300 per ounce after easing Middle East tensions between Iran and Israel boosted market sentiment, while the market is looking forward to upcoming US inflation data for clues on the Federal Reserve's interest rate path.

"Gold and silver faced significant selling pressure last week. COMEX gold dropped to $4300 its lowest level of 2026 posting a weekly decline of nearly 4%, while silver fell by 7% to touch $66. Gold and silver are falling due to a confluence of powerful headwinds. A stronger-than-expected May NFP 172,000 jobs versus an 85,000 forecast reignited fears of a Fed rate hike, with markets now pricing in a quarter-point increase by year-end. The DXY surged, making dollar-denominated bullion more expensive for global buyers and suppressing demand." said Prithviraj Kothari, Managing Director at RiddiSiddhi Bullions Ltd., President of India Bullion and Jewellers Association Ltd. and Chairman at Jain International Trade Organisation.

Gold Rates in India Today

As of 9th June, gold rates in India for 22-carat, or standard, gold spiked by Rs. 1,350 per 10 grams to Rs. 1,40,400. The 24-carat gold rate in India is currently at Rs. 1,53,160, up by Rs. 1,470 per 10 grams. Just like that, 18-carat gold rates also surged by Rs. 1100 to retail at Rs. 1,14,870.

Similarly, the 100 grams of 24-carat gold is now costing Rs. 15,31,600 after surging Rs. 14,700 and the 22-carat gold per 100 grams is now at Rs.14,04,000, which surged by Rs.13,500. The cheaper variant, 18-carat gold, is now at Rs.11,48,700.

Silver rates in India today

White metal rates in India observed no major movement. Today, 1 kg of silver costs Rs.2,60,000. Similarly, 100 grams of silver is now priced at Rs. 26,000.

MCX Gold and Silver Futures Update

On the Multi Commodity Exchange (MCX), gold futures, scheduled to mature on August 5, continued to decline by slipping by 0.05%, or 84 points, bringing the current trading value to Rs. 1,54,700. In a similar pattern, silver futures, set to expire on July 3rd, traded with losses during the session. The metal is currently trading at Rs. 2,44,831 after gaining 1558 points, or 0.63%.

Spot Gold & Spot Silver Prices in the International Market Today

As per the latest report from Reuters, "Spot gold held its ground at $4,332.50 per ounce, ​as of 0222 GMT. Spot silver fell 0.7% to $67.71 per ounce."

Gold Price & Silver Outlook Ahead & Analysis

"Gold is currently trading at deeply oversold levels near the critical support zone of $4,300 (approximately Rs. 1,54,000). A technical rebound of 3-4% is anticipated from current levels, driven by bottom-fishing activity. However, a sustained break below this support would shift the near-term bias decisively lower, exposing the $4,000-$4,100 range (approximately Rs. 1,50,000-Rs. 1,51,500) as the next downside target." Kothari further explained

"Silver is similarly oversold, testing key support in the $66-$67 range (approximately Rs. 2,40,000- Rs. 2,42,000). As with gold, a 3-4% technical recovery is the base case on dip-buying, but a confirmed sustainability below this support would accelerate selling pressure toward $60 (approximately Rs. 2,20,000) in the short term," he added.

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