Gold Prices Rise in India Amid Global Uncertainty

On 9 July 2026, the price of 24K gold at ₹145,650 per 10 grams, reflecting a gain of ₹1,760 compared to its previous close. Meanwhile, 22K gold is at ₹133,513 per 10 grams. Gold prices in India are largely influenced by international spot gold rates, US dollar fluctuations, and import duties on Gold among other things. Gold prices in India continue to remain higher than in Dubai. On 9 July 2026 the price of 24K gold in India is at ₹145,650 per 10 grams, while in Dubai it is ₹129,186, reflecting a difference of ₹16,464 or 12.74%. Similarly, 22K and 18K gold prices in India were also about 12.74% costlier compared to the price of gold in Dubai , not accounting for fees, duties, and taxes. Gold prices are trending sideways on the back of renewed hostilities in the Middle East, leading to a rise in oil prices and reigniting inflationary concerns. Washington confirmed a second wave of strikes on Tehran stating the attacks were carried out to reduce threats of navigation through the Strait of Hormuz . US President Donald Trump on Wednesday said that the ceasefire with Iran was ‘over’ and warned of a new blockade, adding to supply concerns. Traders currently weigh in at least one rate hike by the US Federal Reserve for this year. ALSO READ Gold plunges 25% from peak: Should investors buy the dip or wait? However, minutes from the FOMC revealed that only a few policymakers were in favour of rate increase. Over the past six months gold prices have fallen by more than 9%. Analysts suggest gold prices extend further declines on the back of record high dollar index and increased inflationary concerns. High probability of rate hike by Fed continues to weigh on the yellow metal as the appeal of gold reduces in higher interest rate environments. “ MCX Gold August futures may slip to Rs 143,000/10g as trend looks weak in the global markets,” said Jigar Trivedi, Senior Research Analyst at IndusInd Securities. Retail investors are advised to track not just domestic rates but also international trends before making buying decisions. ALSO READ Silver Rate Today 3rd July 2026: Silver is up by 1.76%; check prices in Mumbai, Bengaluru, Hyderabad, Delhi, Ahmedabad