As of April 9, gold prices are experiencing notable fluctuations as concerns about a potential recession in the United States rise. This unease has been fueled by President Donald Trump’s unwavering stance on tariffs, particularly with a significant duty on pharmaceutical imports on the horizon. In response to the volatile stock market, investors are increasingly turning to safe-haven assets like gold and silver to protect their wealth.
Current Gold and Silver Prices
On April 9, the gold price per 10 grams at the Multi Commodity Exchange (MCX) was reported at ₹88,424. This comes as the price of silver also saw a rise, reaching ₹88,814 per kilogram. As early as 9:50 AM, the rates were as follows:
- 24-carat gold: ₹88,570 per 10 grams
- 22-carat gold: ₹81,189 per 10 grams
- Silver (999 Fine): ₹89,110 per kilogram
City-Specific Price Breakdown
Here’s a detailed look at the gold and silver prices across major cities in India on April 9:
Mumbai
- Gold bullion: ₹88,460 per 10 grams
- MCX Gold: ₹88,424 per 10 grams
- Silver bullion: ₹89,010 per kilogram
- MCX Silver 999: ₹88,814 per kilogram
Chennai
- Gold bullion: ₹87,720 per 10 grams
- MCX Gold: ₹88,424 per 10 grams
- Silver bullion: ₹89,270 per kilogram
- MCX Silver 999: ₹88,814 per kilogram
Bengaluru
- Gold bullion: ₹88,530 per 10 grams
- MCX Gold: ₹88,424 per 10 grams
- Silver bullion: ₹89,080 per kilogram
- MCX Silver 999: ₹88,814 per kilogram
New Delhi
- Gold bullion: ₹88,310 per 10 grams
- MCX Gold: ₹88,424 per 10 grams
- Silver bullion: ₹88,860 per kilogram
- MCX Silver 999: ₹88,814 per kilogram
Kolkata
- Gold bullion: ₹88,340 per 10 grams
- MCX Gold: ₹88,424 per 10 grams
- Silver bullion: ₹88,900 per kilogram
- MCX Silver 999: ₹88,814 per kilogram
Hyderabad
- Gold bullion: ₹88,580 per 10 grams
- MCX Gold: ₹88,424 per 10 grams
- Silver bullion: ₹89,040 per kilogram
- MCX Silver 999: ₹88,814 per kilogram
Market Trends
The ongoing trade tensions and tariff developments are causing a ripple effect in the gold and silver markets. As investors seek stability amidst uncertainty, the demand for these precious metals is likely to remain high. For those looking to invest, keeping an eye on these prices is essential to making informed decisions.
In summary, with rising concerns about the economy and shifting market dynamics, gold and silver are increasingly viewed as vital components of a diversified investment strategy. Stay updated with the latest market trends to navigate these challenging times effectively.
