On 9th May 2026, gold prices extended their bullion rates across India, with major cities such as Delhi, Mumbai, Chennai, Hyderabad and Kolkata witnessing a rise in the cost of gold in the market due to the global market volatility.
The factors that are driving up the gold price are several. These include concerns about inflation globally, international movement of bullion and currency fluctuations, coupled with the current wedding season and high domestic demand.
The average price of 24-carat gold (999 purity) closed at ₹1,51,078 per 10 gram as of Friday’s market end, according to the Indian Bullion and Jewellers Association (IBJA). Bullion markets will be open on Monday but it is anticipated that rates will be the same on the weekend of Saturday and Sunday.
On Multi Commodity Exchange (MCX), 24-carat gold closed at ₹1,52,589 per 10 gram, up ₹59 from the previous trade.
Gold rates Rise in major cities
Gold rates at the retail level were found to be different in different Indian cities due to the variations in taxes, transportation charges and jeweller margins.
Gold Rate Today – May 9, 2026
| City | 24K Gold (₹/10 gm) | 22K Gold (₹/10 gm) | 18K Gold (₹/10 gm) |
|---|---|---|---|
| Delhi | ₹1,52,880 | ₹1,40,100 | ₹1,14,660 |
| Mumbai | ₹1,52,680 | ₹1,39,950 | ₹1,14,510 |
| Kolkata | ₹1,52,680 | ₹1,39,950 | ₹1,14,510 |
| Chennai | ₹1,53,840 | ₹1,41,020 | ₹1,17,720 |
| Hyderabad | ₹1,52,680 | ₹1,39,950 | ₹1,14,510 |
Chennai had the highest prices of gold among the metros on Friday.
Gold rates have skyrocketed in Kerala
The prices of bullion also saw a significant rise in the state of Kerala, when compared to earlier sessions.
| Gold Type | Price (₹/10 gm) | Increase |
|---|---|---|
| 22K Gold | ₹1,39,460 | ₹2,720 |
| 24K Gold | ₹1,52,140 | ₹2,970 |
The rise has been attributed to rising demand for jewellery and global price movements.
IBJA Benchmark Gold Prices
According to the latest benchmark gold rates released by IBJA, it is as follows:
| Gold Purity | Price (₹/10 gm) |
|---|---|
| 24 Carat | ₹1,51,078 |
| 23 Carat | ₹1,50,473 |
| 22 Carat | ₹1,38,387 |
| 18 Carat | ₹1,13,309 |
| 14 Carat | ₹88,381 |
These rates are used in the Indian bullion market as reference prices.
The price of silver is holding steady
The silver prices in major cities in India did not move significantly from these levels unlike gold.
Silver Rate Today – May 9, 2026
| Silver Type | Price |
|---|---|
| Silver 999 | ₹2,65,000 per kg |
| Sterling Silver (925) | ₹2,55,000 per kg |
The prices of silver in Delhi, Mumbai, Kolkata and Chennai were quoted at around ₹2,650 per 10 gram.
Why Gold prices are Fluctuating?
Gold remains very sensitive to world and domestic events, market experts say.
Some of the major factors affecting prices include:
- Global economic uncertainty
- Concerns about inflation in the international market.
- The Fed policy expectations.
- The ongoing volatility in the USD.
- Rising safe-haven demand
- Wedding jewellery shopping in India
- Retail and investment buying.
Gold has declined from early this year’s record levels, but it remains one of the most popular investment vehicles in today’s uncertain economic climate.
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The buyers are also warned to inspect the final retail price thoroughly as charges by the jeweller, plus GST and local premiums can add much to the overall price, in addition to the standard bullion price.
