Gold Rate Today, October 9: Gold Price Retreats Slightly on Profit Booking After Record Rally, Check Prices of Yellow Metal in Mumbai, Delhi, Bengaluru, Chennai and Other Metro Cities

New Delhi, October 9: Gold and silver prices edged lower in early trade on Thursday, October 9, following a strong rally in the previous session that pushed both metals to record highs. Traders opted for profit booking at elevated levels, triggering a short-term pullback on the Multi Commodity Exchange (MCX). At around 9:15 am, December futures for MCX Gold were trading at Rs 1,22,789 per 10 grams, down 0.34%, while December silver futures slipped 0.75% to INR 1,48,738 per kg. On October 8, gold had touched Rs 1,23,450 and silver surged to INR 1,50,282 per kg.

Rahul Kalantri, VP of commodities at Mehta Equities, noted that gold has support at INR  1,22,500 and INR 1,21,780, with resistance at INR 1,23,950 and INR 1,24,600. Silver’s support and resistance levels are INR 1,48,750, INR 1,47,850 and INR 1,50,850, INR 1,51,750, respectively. Gold Rate Today, October 8: Gold Price Hits New Record High on MCX; Check Prices of Yellow Metal in Mumbai, Delhi, Bengaluru, Chennai and Other Metro Cities.

Despite the mild correction, gold has seen over a 50% increase in domestic spot prices this year, driven by global economic uncertainties, geopolitical tensions, and a weakening dollar. Strong central bank buying and heavy inflows into gold ETFs have further supported the bullish trend. Analysts suggest that while short-term volatility is likely, the long-term outlook for precious metals remains positive, particularly if the US Fed implements rate cuts amid persistent global uncertainties. Gold Prices Hit Record High, Surge Past USD 4,000 for the First Time Ever Amid US Government Shutdown and Inflation Concerns.

Gold Prices Across Major Indian Cities on October 9, 2025

The recent minutes from the US Fed’s September policy meeting highlighted growing concerns about risks to the job market, while persistent inflation has kept the central bank cautious. CME FedWatch data suggests markets are pricing in 25-basis-point rate cuts in October and December with high probability. Analysts say that if these cuts materialise, combined with ongoing geopolitical and economic uncertainties, gold and silver prices could continue their upward trajectory, making precious metals an attractive hedge for investors seeking long-term security.

(The above story first appeared on LatestLY on Oct 09, 2025 10:58 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).