Gold and Silver see soft correction in India; Market trends under watch

India’s gold slips 14% this month as US dollar strength and Middle East news shake markets, city-wise rates inside

Post Published By: Sona Saini

Updated : 9 April 2026, 11:06 AM IST

Gold and silver fall in India

New Delhi: On April 9, 2026, gold and silver prices in India saw some fluctuations amid developments in the Middle East. Israel and Iran recently observed a 15-day ceasefire and while there were minor military actions targeting Hezbollah positions in Lebanon, both sides have emphasized efforts to maintain calm and avoid escalation. Combined with a stronger U.S. dollar, these factors contributed to moderate pressure on precious metals, influencing gold and silver rates in major Indian cities.

Current Gold and Silver Rates

Silver: Spot prices across India stood at Rs 1,50,000 per kg. On the MCX, silver fell 1.52% to Rs 2,36,233 per kg.
Gold: On the MCX, gold dropped 0.46% to Rs 1,51,084 per 10 grams. In Mumbai, 24-carat gold was trading at Rs 1,36,700 per 10 grams, while 22-carat gold was available at Rs 1,11,850 per 10 grams. These prices exclude GST and making charges.

Gold Rates Across Major Indian Cities

22K Gold (per 10g) 24K Gold (per 10g) :

Delhi: Rs 1,12,000 | Rs 1,36,850
Jaipur: Rs 1,12,000 | Rs 1,36,850
Ahmedabad: Rs 1,11,900 | Rs 1,36,750
Pune: Rs 1,11,900 | Rs 1,36,750
Mumbai: Rs 1,11,850 | Rs 1,36,700
Hyderabad:  Rs 1,11,850 | Rs 1,36,700
Chennai: Rs 1,11,850 | Rs 1,36,700
Bengaluru: Rs 1,11,850 | Rs 1,36,700
Kolkata: Rs 1,11,850 | Rs 1,36,700

Gold has dropped over 14% this month, marking its steepest monthly decline since October 2008. The stronger US dollar has been a major factor in this fall.

Why Gold Prices Are Falling

Several factors influence gold prices in India:

1. International Market Rates: Global gold prices directly affect local rates.
2. Import Duties and Taxes: These add to the final price in India.
3. Exchange Rate Fluctuations: A stronger rupee can lower gold prices, while a weaker rupee pushes them higher.

Middle East Tensions Add Pressure

The recent fall in prices coincides with rising geopolitical tensions. Israel carried out strikes on Hezbollah positions in Lebanon, killing at least 182 people and injuring hundreds. In response, Iran closed the Strait of Hormuz, a key shipping route. The United States is urging both sides to maintain peace talks.

Gold: A Cultural and Financial Asset in India

Gold is more than just an investment in India. It is deeply rooted in cultural traditions, especially during weddings and festivals. Investors and traders closely watch daily fluctuations to make informed decisions in a constantly changing market.