Domestic precious metal markets recorded sharp upward momentum on Friday, October 09, 2026, with gold prices rising by approximately ₹1,140 per 10 grams across major retail trading hubs. The uptick reflects strong festive and pre-wedding seasonal demand across the country, supported by supportive overseas cues and short-covering in commodity futures. Spot gold globally advanced toward $4,169 an ounce, while a softer domestic currency provided additional floor pricing for imported precious metals. Retail jewellers across northern and western markets report increased footfall as households begin token bookings ahead of upcoming festive shopping milestones.

City-Wise Gold Rates on October 09, 2026

Retail prices vary marginally across state borders due to differing local municipal levies, octroi, and transportation freight costs. In the national capital, Delhi, 24-carat gold stands slightly higher at ₹15,086 per gram (₹1,50,860 per 10 grams), while 22-carat jewelry gold retails at ₹13,830 per gram (₹1,38,300 per 10 grams). In Mumbai and Kolkata, 24-carat gold trades at ₹15,071 per gram (₹1,50,710 per 10 grams), with 22-carat priced at ₹13,815 per gram (₹1,38,150 per 10 grams). In southern centers such as Chennai, Bengaluru, and Hyderabad, 24-carat prices mirror Mumbai at ₹15,071 per gram, though Chennai’s 18-carat retail tier trades at a premium of ₹11,350 per gram due to regional ornamental making norms. In Gujarat’s primary centers, Ahmedabad and Vadodara, 24-carat gold is quoted at ₹15,076 per gram and 22-carat at ₹13,820 per gram.

Key Drivers Behind the October 09 Surge

Market analysts attribute today’s price resurgence to a combination of international macroeconomic developments and domestic liquidity dynamics. On the Multi Commodity Exchange (MCX), gold contracts consolidated firmly toward the ₹1,50,000 per 10 grams mark following active short-covering from institutional players. Globally, cooling United States Treasury yields and a temporary pause in the US dollar index’s recent rally made non-yielding bullion an attractive hedge for international reserve managers and retail investors alike. Furthermore, the onset of the festive shopping cycle—beginning with Navratri and leading into Dhanteras and Diwali—consistently tightens domestic physical supply, encouraging jewelers to replenish physical inventories at wholesale bullion desks.

Retail Buyer Advisory: GST, Making Charges, and Hallmarking

Consumers purchasing physical jewelry are reminded that the daily quoted retail rate reflects bare bullion value before mandatory levies and processing charges. Retail transactions attract a mandatory 3% Goods and Services Tax (GST) alongside making charges that typically range between 6% and 18%, depending on craftsmanship intricacy. The Bureau of Indian Standards (BIS) mandates that all hallmarked jewelry carry a six-digit alphanumeric HUID (Hallmark Unique Identification) code stamped alongside the purity mark—such as 916 for 22-karat or 750 for 18-karat ornaments. Industry bodies advise checking that the day’s base rate matches the official jeweler display board and verifying the HUID number via the BIS Care mobile portal before finalizing any festive purchase.