Gold prices: On Thursday, October 9, 2025, gold prices saw some relief after a record surge internationally. A day after gold crossed $4,000 per ounce for the first time in the international market, investors began booking profits, creating pressure. In cities like Mumbai, the price of 24-carat gold was ₹1,23,940 per 10 grams, and the price of 22-carat gold was ₹1,13,610 per 10 grams. Note that these prices exclude GST and making charges.
Silver, meanwhile, was trading at ₹1,61,000 per kilogram.
Today’s Gold Rates in Major Cities in India (October 9)
Here are the prices of 22- and 24-carat gold per 10 grams in different cities across the country:
City 22-carat gold (₹) 24-carat gold (₹)
Delhi 1,13,760 1,24,090
Jaipur 1,13,760 1,24,090
Ahmedabad 1,13,660 1,23,990
Mumbai 1,13,610 1,23,940
Pune 1,13,610 1,23,940
Hyderabad 1,13,610 1,23,940
Chennai 1,13,610 1,23,940
Bengaluru 1,13,610 1,23,940
Kolkata 1,13,610 1,23,940
Source: Local Bullion Associations, prices excluding GST and making charges.
Futures Market and International Situation
The domestic futures market also witnessed a softening trend. Gold futures, expiring on December 5, 2025, on MCX, fell 0.43% to ₹1,22,674 per 10 grams. Silver futures fell 0.92% to ₹1,48,481 per kilogram.
In the international market, spot gold fell 0.4% to ₹4,020.99 per ounce after touching a record high of ₹4,059.05 on Wednesday. US gold futures (December delivery) also slipped 0.7% to ₹4,040.70.
A Look at Gold Forecasts for 2025
Gold has recorded a spectacular gain of over 50% in the past few months, outperforming other investment options such as equities and real estate. Experts believe this upward trend could continue, with periodic corrections. According to Sandeep Raichura, Director of PL Capital, international gold prices could rise from current levels to $4,800 per ounce, indicating a further increase of approximately 26%.
Why is Gold Shining?
Several global economic factors are behind this surge in gold prices, including inflation fears, central banks’ monetary policies, and geopolitical tensions. On September 23, 2025, US spot gold reached a record high of approximately $3,791.11 per ounce, nearly doubling in the past two years.