Gold Price Update, June 9: Chennai & Bangalore Observe BIG DROP in 24K, 22K,18K Gold Rates Today

The second week of June 2025 has brought good news for buyers, as gold rates in India, including in major cities like Chennai and Bangalore, have declined sharply. The drop in gold prices is mainly because of the weak domestic demand and the absence of any fresh triggers from the market. Meanwhile, global gold prices remained stable, with spot gold trading above USD 3,300 per ounce, as easing US-China trade tensions helped reduce safe-haven demand. Investors are now closely watching the upcoming US CPI data, which is expected to provide the future direction of gold price movement globally.

Gold Rate in Chennai Today

On June 9th, the 22-carat gold rate in Chennai fell by Rs. 250 per 10 grams to cost Rs. 89,550 per 10 grams. While the 24-carat gold prices in Chennai today dropped by Rs. 280 and currently cost Rs. 97,690 per 10 grams. Even the 18-carat gold rate today declined by Rs 200 per 10 grams to cost Rs 73,650.

Likewise, the 100 grams of 22-carat gold stand at Rs. 8,95,500 after dropping Rs. 2500, while the 24-carat gold price in India per 100 grams is now retailing at Rs. 9,76,900, which dropped by Rs. 2800.

Gold rate in Bangalore today

The 22-carat gold price in Bangalore has dropped today and now costs Rs. 89,550 per 10 grams, down by Rs. 250. Meanwhile, the 24-karat gold price in Bangalore today fell by Rs. 280, bringing the price down to Rs. 97,690 per 10 grams. Just like that, the 18-carat gold prices dropped by Rs. 200 per 10 grams, now priced at Rs. 73,650.

MCX Gold and Silver Futures Update

On the Multi Commodity Exchange (MCX), gold futures slated to mature on August 5th is currently lower by 0.39% at Rs 96,657. Similarly, silver futures, which are set to expire on July 4, 2025, rose by 0.18 % and are trading at Rs 1,05,650 at 12 noon on Monday , June 9th.

Silver Rate in Chennai Today

Silver prices in Chennai today also fell sharply, just like gold. Currently, 1kg of silver in Chenani costs Rs. 117,100 after shipping Rs. 1,000. While 100g of silver rates in India cost Rs 11,700 per 100.

Silver Rate in Bangalore Today

The similar silver rate in Bangalore today also showed no movements. At present, 1kg of silver in Bangalore costs Rs. 1,07,000. While 100g of silver rates in India cost Rs 10,700.

Market Outlook for Gold Prices

"Silver extended gains to 13-year highs on Friday, and platinum reached the highest since early 2022, signalling growing investor appetite for precious metals used in key industries. Spot prices for both metals continued to rally on Friday after spikes of more than 4% in the previous session. Gold slipped as bond yields and the dollar pushed higher after a slightly better-than-expected jobs report prompted traders to trim bets that the Federal Reserve will cut interest rates twice this year. Gold is up 26% this year as an expanding US-led tariff war boosted its safety appeal and central banks maintained elevated levels of buying. Silver and platinum had been lagging behind, but they are now catching up, with year-to-date gains of 25% and 29%, respectively. Both are driven by the ebbs and flows of industrial demand. Silver is a key input into photovoltaic solar panels, while platinum is used in catalytic converters in combustion engines and laboratory equipment."

Spot Gold Prices + Spot Silver Price Today

As per the latest Reuters commodity report, "Spot gold edged 0.1% lower to $3,310.68 an ounce, as of 0400 GMT. U.S. gold futures lost 0.5% to $3,330.10. Spot silver was unchanged at $35.98 per ounce."

Disclaimer: The recommendations made above are by market analysts and are not advised by either the author, nor GoodReturns. The author, nor the brokerage firm nor GoodReturns would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.