Gold Prices Dip on May 9 Despite India-Pakistan Tensions; Check Latest City-Wise Rates

Despite growing geopolitical tensions between India and Pakistan, gold prices dipped on May 9, catching many market watchers off guard. A mix of global trade optimism and easing recession fears seems to be tempering demand for the yellow metal in India.

Gold Rates See a Dip Amid Global Developments

• On Friday, gold prices cooled off across major Indian cities.
• The decline comes in the wake of the UK-USA trade deal wrapping up and China's renewed confidence in resolving trade issues with the US.
• The softening demand has surprised analysts, especially considering the recent surge where gold nearly touched the ₹1 lakh mark per 10 grams.

Current Gold Prices Across Major Cities (May 9, 2025)

City	22K Gold (₹/10g)	24K Gold (₹/10g)
Delhi	₹90,300	₹98,500
Jaipur	₹90,300	₹98,500
Ahmedabad	₹90,200	₹98,400
Patna	₹90,200	₹98,400
Mumbai	₹90,150	₹98,350
Hyderabad	₹90,150	₹98,350
Chennai	₹90,150	₹98,350
Bengaluru	₹90,150	₹98,350
Kolkata	₹90,150	₹98,350

In Mumbai, 22-carat gold dropped by ₹1,150, settling at ₹90,150 per 10 grams, while 24-carat gold was priced at ₹98,350.

Gold Futures & Silver Trend

• On the Multi Commodity Exchange (MCX), gold futures for June 5 were trading slightly higher at ₹96,325 per 10 grams, up by 0.16%.
• Meanwhile, silver futures for July 4 delivery declined by 0.24%, trading at ₹96,284 per kilogram.
• In retail markets like Mumbai, silver held steady at ₹99,000 per kg.

Why Are Gold Prices Fluctuating ?

Several key elements influence gold rates in India:

• Global market trends
• Import duties and local taxes
• Fluctuations in currency exchange rates

Gold remains an integral part of Indian culture - valued for both its emotional significance and investment appeal. With ever-changing global cues, market watchers keep a close eye on rate movements to make timely decisions.