Gold Prices Fall Sharply in Bengaluru, Chennai, Hyderabad; Check 24K, 22K, 18K Gold Rates Today, March 9

Gold rates today: The yellow metal is once again under pressure at the start of the week. Gold prices in major Indian cities fell sharply on Monday morning, taking cues from weakness in the international bullion market.

Gold rates in Bengaluru, Chennai and Hyderabad have declined by more than 8.5% over the past 10 days, despite ongoing geopolitical tensions globally. The primary reason behind the fall is the sharp surge in the US dollar index, which has climbed to a three-month high, along with the US 10-year Treasury yield rising to a one-month high.

Both global and domestic bullion markets are currently under pressure amid the ongoing US-Iran tensions. At the same time, crude oil prices have surged more than 30%, while the Indian equity market in India also saw sharp declines impacting investor sentiment in bullion.

As a result, gold prices today have corrected significantly, which analysts say could present a buying opportunity for retail investors looking to enter the market at lower levels.

Meanwhile, silver prices are trading cautiously, currently down about 32% from their record highs seen earlier in January.

Gold Rate in Bangalore

On 9th march,the 22-carat gold rates in Bangalore today declined by Rs. 1800 to cost Rs. 1,48,200. Meanwhile, 24-carat gold now retails for Rs. 1,61,680 per 10 grams, which dropped by Rs. 1960. Just like that, 18-carat gold rates in Bangalore also fell by Rs. 1470 to retail at Rs. 1,21,260 per 10 grams.

Gold Prices in Chennai Today

The gold rate in Chennai experienced a sharp fall today. The 24-carat gold rate in Chennai crashed by Rs. 1090 per 10 grams to cost Rs. 1,63,090 per 10 grams, while the 22-carat gold rate in Chennai dropped by Rs. 1000 and now retails at Rs. 1,49,500 per 10 grams.

Gold Rate In Hyderabad

Following Chennai and Bengaluru's lead, gold prices in Hyderabad today fell dramatically across purities. The 24 karat gold rate in Hyderabad is now available at Rs. 1,61,680 which fell by Rs. 1960. While the 22 karat gold rate in Hyderabad fell by Rs. 1800 and now retails at Rs. 1,48,200.

Outlook on Gold and Silver Price Ahead

"Gold and silver remain in a structurally strong uptrend, supported by geopolitical uncertainty, elevated global debt, and expectations of accommodative monetary policy. With tensions in the Middle East intensifying and energy prices rising, safe-haven demand for gold continues to build. As long as gold sustains above the $5,200 zone, the momentum favors a move toward $5,450-5,600 in the near term. Dips are likely to attract strategic buying rather than aggressive selling." said Prithviraj Kothari, Managing Director at RiddiSiddhi Bullions Ltd., President of India Bullion and Jewellers Association Ltd. and Chairman at Jain International Trade Organisation.

"Silver, meanwhile, is benefiting from both monetary and industrial tailwinds. A persistent multi-year supply deficit, strong demand from solar, EVs, and AI infrastructure, and renewed investment flows are tightening the market. Once Silver sustains above $90, it will be the path toward $100-105 levels. Its higher beta nature suggests it could outperform gold in this phase of the rally. While short-term volatility will remain high due to geopolitical headlines and US economic data, the broader bias for both metals stays constructive, with corrections likely to be shallow and temporary." Kothari further added.

Gold Future Price On MCX

On the Multi Commodity Exchange (MCX), the gold futures for April 2nd, 2026, delivery are extending losses of 0.23%, trading at Rs. 1,61,400 per 10 grams at the time of writing. Similarly, the silver futures for the May 5th expiry dipped today by 0.74%, trading at Rs. 2,66,300 per kg.

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