Gold rates in India jumped sharply on October 9, 2026, driven by strong performance at MCX and global bullion markets as crude oil prices corrected. The spot gold price surged over 1% to around $4,175 per ounce, supported by pullbacks in treasury yields and the US dollar. Market sentiment improved as expectations grow that the US Federal Reserve will keep rates unchanged this month before a December policy hike.
Price Surge Across Carats
10 grams of 24-carat gold reclaimed the Rs 1.51 lakh mark at MCX, surging by Rs 1,140 to Rs 1,50,710. For 22-carat gold, 10 grams climbed by Rs 1,050 to Rs 1,38,150. The price of 18-carat gold jumped by Rs 850 to Rs 1,13,030 per 10 grams. These increases reflect broader gains in the gold market, with 100 grams of 24-carat gold rising by Rs 11,400 to Rs 15,07,100.
For buyers, the upward trend suggests caution, with purchases potentially staggered until Rs 1,50,000 is convincingly crossed. Silver showed a 2.17% range on Thursday, indicating smaller positions and lower leverage may be warranted. A break below Rs 2,19,800 could signal that the overnight recovery has not addressed silver’s domestic weakness, according to Vikram Subburaj, CEO of Giottus.com.
Analyst Outlook and Market Focus
Jateen Trivedi, VP Research Analyst at LKP Securities, emphasized that the key focus will be on next week’s US CPI data, which is expected to shape expectations around the Fed’s interest-rate trajectory. Volatility is likely to remain raised, with the gold range projected between Rs 1,48,000 and Rs 1,52,500.
Retailers’ Gold Prices on October 9
Tanishq offered 22-carat gold at Rs 13,860 per gram, Rs 138,600 per 10 grams, and Rs 1,386,000 per 100 grams. Their 24-carat gold was priced at Rs 15,120 per gram and Rs 1,51,200 per 10 grams, while 18-carat gold stood at Rs 11,340 per gram and Rs 1,13,400 per 10 grams. These prices highlight the competitive nature of the retail gold market in India.
IBJA’s 999 purity gold rate reached Rs 14,961 per gram, with 995 purity at Rs 14,902 and 916 purity at Rs 13,705. The 750 purity gold was priced at Rs 11,221, and 585 purity gold at Rs 8,752. These rates reflect the precision in pricing across different gold purities offered by the retailer.
Kalyan Jewellers listed 22-carat gold at Rs 14,240 per gram and Rs 1,42,400 per 10 grams. These figures show the competitive pricing strategies among major jewelry retailers in the country.
Leave a Reply