Gold prices declined for the third consecutive day on July 9, with 24K gold falling ₹349 per gram over the past three days. Here's the latest city-wise gold and silver rates and the reasons behind the decline.
Gold prices continued their downward trend on July 9, marking the third consecutive day of decline. Compared with July 8, 24K gold fell by ₹213 per gram, 22K gold dropped by ₹195, and 18K gold declined by ₹159.
The correction follows a similar fall on July 8, indicating sustained weakness in domestic gold prices.
Over the three-day period from July 7 to July 9, 24K gold has fallen by ₹349 per gram, 22K gold by ₹320, and 18K gold by ₹262, making it one of the sharpest short-term declines in recent weeks.
The continued drop could offer some relief to buyers planning jewellery purchases, while existing investors may closely watch global market trends for further price movement.
| Purity | Price (Per Gram) |
| 24K Gold (99.9% purity) | ₹14,312 |
| 22K Gold (91.6% purity) | ₹13,119 |
| 18K Gold (75% purity) | ₹10,734 |
City-wise gold rate (1 gram)
| Cities | 24 Carat | 22 Carat | 18 Carat |
|---|---|---|---|
| Chennai | ₹14,454 | ₹13,249 | ₹11,069 |
| Mumbai | ₹14,312 | ₹13,119 | ₹10,734 |
| Delhi | ₹14,327 | ₹13,134 | ₹10,749 |
| Kolkata | ₹14,312 | ₹13,119 | ₹10,734 |
| Bangalore | ₹14,312 | ₹13,119 | ₹10,734 |
| Hyderabad | ₹14,312 | ₹13,119 | ₹10,734 |
| Thiruvananthapuram | ₹14,312 | ₹13,119 | ₹10,734 |
City-wise silver rate
| City | (10 grams) | (100 grams) | (1 kg) |
| Chennai | ₹2,449 | ₹24,490 | ₹2,44,900 |
| Mumbai | ₹2,449 | ₹24,490 | ₹2,44,900 |
| Delhi | ₹2,451 | ₹24,510 | ₹2,45,100 |
| Kolkata | ₹2,449 | ₹24,490 | ₹2,44,900 |
| Bangalore | ₹2,449 | ₹24,490 | ₹2,44,900 |
| Hyderabad | ₹2,449 | ₹24,490 | ₹2,44,900 |
| Kerala | ₹2,449 | ₹24,490 | ₹2,44,900 |
Gold hits one-week low amid surge in oil prices
Gold prices fell more than 1% on Wednesday, July 8, dropping to their lowest level in a week. The decline came after fresh tensions emerged in West Asia, pushing global oil prices sharply higher.
The fall followed US President Donald Trump's statement that an interim peace arrangement with Iran was "over." Higher oil prices raised concerns that inflation could remain elevated, leading investors to expect tighter US monetary policy. This reduced the appeal of gold, putting pressure on prices.
Why gold prices fell despite rising geopolitical tensions
Gold is typically seen as a safe-haven asset during wars, geopolitical conflicts and periods of economic uncertainty. However, this time, rising oil prices overshadowed that safe-haven demand.
After US President Donald Trump said an interim peace arrangement with Iran was "over," oil prices surged by more than 5%, raising fears that higher energy costs could fuel inflation. If inflation remains high, the US Federal Reserve may keep interest rates elevated for longer or even raise them further.
Higher interest rates reduce the appeal of gold because it does not offer any interest. Expectations of tighter monetary policy also tend to strengthen the US dollar, making gold more expensive for buyers using other currencies and putting additional pressure on prices.
Published: 09 Jul 2026, 09:29 am IST
Related Topics
Subscribe to our Newsletter
Disclaimer: Kindly avoid objectionable, derogatory, unlawful and lewd comments, while responding to reports. Such comments are punishable under cyber laws. Please keep away from personal attacks. The opinions expressed here are the personal opinions of readers and not that of Mathrubhumi.
