Gold, silver rate today May 9: Gold prices witnessed a marginal decline in early trade on Saturday, May 9, while silver prices edged higher amid continued geopolitical tensions and strong global bullion trends.

According to the GoodReturns website, the price of 24-carat gold fell by ₹10 to ₹1,52,670 per 10 grams. The price of 22-carat gold also slipped by ₹10 and was trading at ₹1,39,940 per 10 grams.

Silver, however, continued to remain firm. The price of one kilogram of silver rose by ₹100 to ₹2,75,100 in major Indian cities.

In Delhi, 24-carat gold was priced at ₹1,52,870 per 10 grams, while 22-carat gold stood at ₹1,40,090 per 10 grams. The rate for 18-carat gold in the national capital was ₹1,14,650 per 10 grams. Silver prices in Delhi were quoted at ₹275 per gram.

Gold prices remained largely similar across Mumbai, Kolkata, Bengaluru, and Hyderabad, where 24-carat gold was trading at ₹1,52,670 per 10 grams. Chennai continued to record slightly higher bullion prices, with 24-carat gold priced at ₹1,53,850 per 10 grams.

Similarly, 22-carat gold prices in Mumbai, Kolkata, Bengaluru, and Hyderabad stood at ₹1,39,940 per 10 grams, while Chennai recorded ₹1,41,030 per 10 grams.

Silver prices in Delhi, Mumbai, and Kolkata stood at ₹2,75,100 per kilogram, while Chennai reported slightly lower prices at ₹2,74,800 per kilogram.

Domestic gold and silver prices

Bullion traders said domestic gold and silver prices are being influenced by international spot rates, rupee-dollar movements, import costs, and investor sentiment linked to geopolitical developments.

Weatlh expert Ponmudi R, CEO of Enrich Money, said: "MCX Gold futures are trading near the ₹1,52,000–₹1,53,000 zone, showing signs of stabilization after recovering from the recent lower levels near ₹1,49,000–₹1,48,000, indicating selective buying interest emerging at lower support zones. Technically, immediate resistance is placed at ₹1,54,000–₹1,55,500, followed by a stronger hurdle near ₹1,58,000–₹1,60,000. A sustained breakout above these levels could strengthen bullish momentum and extend the recovery toward higher levels."

He added: "On the downside, immediate support is seen near ₹1,50,000–₹1,48,000, while stronger support remains positioned around ₹1,45,000–₹1,43,000. A decisive break below this zone could weaken the recovery structure and trigger further corrective pressure. The broader trend remains cautiously positive, with prices holding above key support levels. However, further directional momentum will depend on a sustained breakout above the ₹1,55,500 resistance zone."
 

MUST READ: Gold outlook: Can oil shocks, central bank buying revive bullion prices in May?

Delhi remains one of India’s key bullion markets, with Chandni Chowk continuing to be a major hub for jewellery and precious metal trade. Industry experts noted that gold demand in the national capital typically rises during the wedding season and festive periods such as Akshaya Tritiya and Dhanteras. Retail buyers should note that prevailing market rates exclude making charges and 3 per cent GST.

Global gold price

Globally, gold prices moved higher on Friday and were headed for a weekly gain as investors turned to safe-haven assets amid rising tensions in the Middle East. Spot gold gained 0.5 per cent to $4,709.89 per ounce, while US gold futures rose 0.2 per cent to $4,719.60 per ounce.

The gains came after renewed tensions between the United States and Iran. According to reports, US President Donald Trump confirmed an exchange of fire between American and Iranian naval forces in the Strait of Hormuz, increasing concerns over global trade disruption and inflationary pressures.

MUST READ: Is gold becoming investors’ favourite safe-haven bet again in 2026?

Among other precious metals, spot silver surged 2.1 per cent to $80.09 per ounce, while platinum rose 0.6 per cent to $2,034.80. Palladium declined 0.3 per cent to $1,476.04 and was down over 3 per cent for the week.

On the Multi Commodity Exchange (MCX), gold futures for June delivery opened at ₹1,52,672 per 10 grams, up ₹411 from the previous close of ₹1,52,261. During intra-day trade, the contract touched a high of ₹1,53,103, reflecting continued investor interest in safe-haven assets amid ongoing geopolitical uncertainty.

MUST READ: Are NSE Electronic Gold Receipts better than physical gold or Gold ETFs?