Gold Prices Dip Across Major Indian Cities on June 9 Amid Profit Booking
India witnessed a moderate decline in gold prices on June 9, 2025, as investors booked profits following a recent surge. Rates for 18K, 22K, and 24K gold dropped across major cities including Chennai, Mumbai, Delhi, Kolkata, and Hyderabad, although some regional variations were observed.
National Price Trends
On Monday, the average national gold prices were:
- 24K gold: ₹9,769 per gram (down ₹28)
- 22K gold: ₹8,955 per gram (down ₹25)
- 18K gold: ₹7,327 per gram (down ₹21)
This pullback comes after gold touched multi-month highs last week, with 24K rates nearing ₹9,800 per gram.
City-wise Gold Rates
In Chennai and Bangalore, gold prices saw a noticeable correction:
- 24K: ₹9,769/g
- 22K: ₹8,955/g
- 18K: ₹7,327/g
These rates marked a decline of ₹250 to ₹280 per 10 grams compared to the previous day.
Mumbai, however, showed a contrasting trend with slight gains:
- 24K: ₹9,975/g (↑₹43)
- 22K: ₹9,130/g (↑₹40)
- 18K: ₹7,470/g (↑₹32)
Delhi mirrored Mumbai with similar upticks:
- 24K: ₹9,975/g
- 22K: ₹9,145/g
- 18K: ₹7,483/g
In Kolkata, 24K gold hovered around ₹76,736 per 100 grams (approximately ₹7,673 per gram), following the general national downtrend.
Hyderabad recorded minimal drops:
- 24K (10g): ₹9,798.90
- 22K (10g): ₹8,981.90
Market Drivers
The dip in gold prices was largely driven by profit booking after gold recently hit a high. On the Multi Commodity Exchange (MCX), gold futures for August delivery opened lower at ₹96,333 per 10 grams, down ₹703 or 0.72%. Market analysts pointed to several factors:
- A natural correction after last week’s highs.
- Weaker short-term sentiment due to seasonal decline in demand.
- Ongoing global geopolitical uncertainties.
Silver, in contrast, showed strength. July silver futures rose 0.18% to ₹105,650 per 10 grams, indicating a bullish trend in broader bullion markets.
Expert Insights
Manoj Kumar Jain, a market expert, noted that while prices are under pressure due to profit booking, long-term fundamentals for gold remain strong. He suggested traders watch key support and resistance levels closely.
Industry analysts also expect gold to maintain a bullish trajectory over the longer term, possibly touching ₹1.1 lakh per 10 grams by mid-2026. However, in the short term, the market is likely to remain volatile, influenced by global economic cues and central bank policies.
Weekly Snapshot
| Date | 24K (/g) | 22K (/g) | 18K (/g) |
|---|---|---|---|
| June 6 | ₹9,960 | ₹9,130 | ₹7,470 |
| June 8 | ₹9,797 | ₹8,980 | ₹7,348 |
| June 9 | ₹9,769 | ₹8,955 | ₹7,327 |
The data shows a clear trend of softening prices after peaking earlier in the week.
What It Means for Buyers and Investors
For jewellery buyers, the current dip offers a more attractive entry point, particularly for wedding and festive purchases. Investors, on the other hand, may view this correction as a temporary phase in a longer-term upward trend.
Financial advisors suggest that gold continues to be a safe-haven asset, especially amid global uncertainties. However, they advise caution in the short term due to ongoing volatility.
Conclusion
June 9 marked a day of correction for gold prices across India. While some cities like Mumbai and Delhi witnessed minor gains, the overall national trend was downward. With global factors and seasonal demand influencing prices, the gold market is expected to remain dynamic in the coming weeks.
