Gold Price Today (April 9): Gold Gains Momentum on MCX; Silver Surges Too | City-Wise Rates Inside

By | April 9, 2025

Gold prices continued their bullish momentum in India on Wednesday, April 9, 2025, riding high on strong buying interest and renewed fears of a potential global recession. Domestic prices for both gold and silver witnessed a notable surge, with futures trading in the green and city-wise retail rates reflecting the uptrend.

Let’s break down today’s gold and silver price movements and see how much you’ll need to shell out in major Indian cities for these precious metals.

Gold Price 22 Carat Today on MCX: April 9 Highlights

Gold prices on the Multi Commodity Exchange (MCX) opened on a strong note. The June 5 contract for gold began trading at ₹87,998 per 10 grams, up by ₹350 from the previous close of ₹87,648. As the session progressed, prices soared to ₹88,895, marking a solid gain. The contract was last seen trading at ₹88,655, reflecting an increase of ₹688 or 7.79% from the previous day’s close.

This rise is being attributed to continued interest from investors who are viewing gold as a safe haven amid economic uncertainty and a potential slowdown in global growth.

Silver Futures Also Shine

Silver futures also kicked off the day on a positive note. The May 5 contract opened at ₹89,005 per kilogram, up ₹261 from the last closing price of ₹88,744. During the trading session, silver hit a low of ₹88,525 and reached a high of ₹89,500.

At the time of writing, silver was trading at ₹88,910, gaining ₹662 or 0.75%. The strong demand for silver, especially from industrial sectors and retail investors, is playing a key role in driving prices up.

Global Gold Rate Today: COMEX and Spot Market Update

On the international front, gold prices remained firm, supported by safe-haven demand. The COMEX gold futures were trading at around $3,035.4 per troy ounce, while spot gold hovered near $3,023.35 per ounce around 10:45 AM IST.

With the U.S. Federal Reserve’s rate stance and fears of a potential recession dominating the global financial conversation, gold is increasingly seen as a hedge against uncertainty.

City-Wise 22 Carat Gold Price Today

Gold prices vary across cities due to local taxes, making it crucial for buyers to know the updated rates in their region. Here’s a quick look at today’s retail gold prices for 22-carat and 24-carat gold across key metros:

Delhi

  • 24-Carat Gold: ₹90,590 per 10 grams
  • 22-Carat Gold: ₹83,050 per 10 grams

Mumbai

  • 24-Carat Gold: ₹90,440 per 10 grams
  • 22-Carat Gold: ₹82,900 per 10 grams

Kolkata

  • 24-Carat Gold: ₹90,440 per 10 grams
  • 22-Carat Gold: ₹82,900 per 10 grams

Chennai

  • 24-Carat Gold: ₹90,440 per 10 grams
  • 22-Carat Gold: ₹82,900 per 10 grams

While prices are mostly aligned in Mumbai, Kolkata, and Chennai, Delhi saw a slightly higher rate today, both in 24K and 22K segments.

Silver Price Today: Steady Gains Across Indian Cities

Silver prices have also seen an upward trend today. The precious metal is witnessing strong industrial demand as well as investment interest, leading to price jumps in major Indian cities.

Delhi

  • Silver (1 kg): ₹93,000

Mumbai

  • Silver (1 kg): ₹93,000

Kolkata

  • Silver (1 kg): ₹93,000
  • Chennai
  • Silver (1 kg): ₹1,02,000

Notably, Chennai recorded the highest silver rate in the country today at ₹1,02,000 per kg—almost ₹9,000 more than other major cities.

🔍 What’s Driving the Surge in Gold and Silver?

The recent rally in gold and silver prices is not without reason. A mix of global macroeconomic tensions, geopolitical unrest, and expectations of rate cuts by major central banks is leading investors to seek refuge in precious metals.

Gold, in particular, has a historical track record of performing well during times of inflation and market volatility. Silver, on the other hand, benefits from both its investment value and its industrial applications, making it a dual-demand asset.

Final Word: Should You Invest Now?

With gold prices soaring to all-time highs and silver gaining momentum, many investors are left wondering—is this the right time to invest? While prices are indeed high, the underlying factors driving the surge suggest that the metals could continue their upward trend in the near term. However, those looking to invest should always do so with a long-term horizon and consider diversification to reduce risk.