Gold prices today in your city: Check prices in Mumbai, Bengaluru, Chennai, Hyderabad, New Delhi and Kolkata on June 9
Gold, silver prices in your city, June 9: The prices of the yellow metal have moderated following the weak US economic data prior to the decision of the Federal Reserve on benchmark interest rates and US President Donald Trump's discussions with Chinese counterpart Xi Jinping.
Gold prices have risen by nearly 30 per cent year-on-year (YoY), yielding around 15 per cent CAGR since 2001. Since 1995, gold has surpassed inflation by more than 2-4 per cent, according to data. Meanwhile, silver prices exceeded the ₹ 1 lakh/kg mark last week. Amid ongoing price volatility, gold and silver continue to serve as safe-haven commodities for investors aiming to safeguard their portfolios.
The MCX gold index stood at ₹ 97,051 per 10 grams on June 9 at 6:25 am, according to the official website. Meanwhile, the MCX silver prices were recorded at ₹ 1,05,525 per kilogram, it showed.
According to data on the Indian Bullion Association (IBA) on June 9 at 6:25 a.m., 24-carat gold was priced at ₹ 97,160/10 gm, while 22-carat gold was priced at ₹ 89,063/10 gms. Silver prices today are at ₹ 1,05,910/kg (Silver 999 Fine), as per the IBA website.
So, check here for prices of gold and silver in your city today on June 9 — Delhi, Kolkata, Mumbai, Hyderabad, Bengaluru, and Chennai. Notably, for retail customers, jewellers may add making charges, taxes and GST to the bill, which could hike the final price. Gold bullion rates in Mumbai — ₹ 96,980/10 gm.
96,980/10 gm. MCX Gold rate in Mumbai — ₹ 97,051/10 gm.
97,051/10 gm. Silver bullion rate in Mumbai — ₹ 1,05,720/kg.
1,05,720/kg. MCX Silver 999 rate in Mumbai — ₹ 1,05,525/kg. Gold bullion rates in New Delhi — ₹ 96,810/10 gm.
96,810/10 gm. MCX Gold rate in New Delhi — ₹ 97,051/10 gm.
97,051/10 gm. Silver bullion rate in New Delhi — ₹ 1,05,540/kg.
1,05,540/kg. MCX Silver 999 rate in New Delhi — ₹ 1,05,525/kg. Gold bullion rates in Kolkata — ₹ 96,850/10 gm.
96,850/10 gm. MCX Gold rate in Kolkata — ₹ 97,051/10 gm.
97,051/10 gm. Silver bullion rate in Kolkata — ₹ 1,05,580/kg.
1,05,580/kg. MCX Silver 999 rate in Kolkata — ₹ 1,05,525/kg. Gold bullion rates in Hyderabad — ₹ 97,140/10 gm.
97,140/10 gm. MCX Gold rate in Hyderabad — ₹ 97,051/10 gm.
97,051/10 gm. Silver bullion rate in Hyderabad — ₹ 1,05,890/kg.
1,05,890/kg. MCX Silver 999 rate in Hyderabad — ₹ 1,05,525/kg. Gold bullion rates in Chennai — ₹ 97,260/10 gm.
97,260/10 gm. MCX Gold rate in Chennai — ₹ 97,051/10 gm.
97,051/10 gm. Silver bullion rate in Chennai — ₹ 1,06,030/kg.
1,06,030/kg. MCX Silver 999 rate in Chennai — ₹ 1,05,525/kg. Gold bullion rates in Bengaluru — ₹ 97,060/10 gm.
97,060/10 gm. MCX Gold rate in Bengaluru — ₹ 97,051/10 gm.
97,051/10 gm. Silver bullion rate in Bengaluru — ₹ 1,05,800/kg.
1,05,800/kg. MCX Silver 999 rate in Bengaluru — ₹ 1,05,525/kg.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
14 minutes ago
- Mint
Canada's Ex-Minister Urges Better China Ties to Hedge US Risks
Canada should bolster ties with China to hedge against uncertainty from US President Donald Trump's approach to bilateral relations, according to a former top Canadian official. 'Who are the other reliable partners we have in the world?' said Bill Morneau, who served as finance minister under former Canadian Prime Minister Justin Trudeau through 2020. Noting that China is Canada's second-largest trading partner, after the US, he said it's no surprise that Prime Minister Mark Carney is looking to build 'a more stable and expansive trading relationship with China and other countries.' Morneau's comments come as Canada seeks to diversify its economic partnerships while talks with the US drag on. Earlier this month, Carney spoke with Chinese Premier Li Qiang about trade and tackling the fentanyl crisis in a sign of warming ties. Carney's government also invited Saudi Crown Prince Mohammed bin Salman to the Group of Seven leaders' summit in Alberta this weekend. Morneau, speaking Wednesday at the Bloomberg Invest conference in Hong Kong, said that while Ottawa should look to reach a trade deal with Washington and maintain strong ties, officials also need to protect the economy and Canada's own interests from the currently 'very volatile' relationship with its southern neighbor. Canadian and US officials have been holding trade talks for months, with Trump and Carney in direct contact ahead of the G-7 meeting beginning June 15. The two sides are looking to negotiate a deal to ease tariffs on each other's goods. Meanwhile, many of the issues Trump has raised, including undocumented migration into the US, don't relate to Canada, Morneau said. 'My expectation is that much of this is obviously posturing,' said Morneau, who was also previously governor of the International Monetary Fund and World Bank. The renegotiation of the trade agreement between the nations will likely include greater access into Canada's protected dairy market and an increased Canadian role in NATO, Morneau said, while any major change to natural-resource sharing — such as Canadian fresh water — is off the table. Carney this week announced a boost to defense spending to meet NATO's target this year, saying it's needed in a 'darker, more competitive world.' Trump has called for all countries to increase their share of global military spending in order to rely less on the US. 'You want to get to as best you can with as many partners as you can, whether its with China or with other parts of the world,' Morneau said. This article was generated from an automated news agency feed without modifications to text.
Time of India
23 minutes ago
- Time of India
Trump's AI czar downplays risk AI chip exports could be smuggled
White House AI czar David Sacks on Tuesday downplayed the risk that coveted American AI chips could be smuggled to bad actors, and expressed concern that regulating U.S. AI too tightly could stifle growth and cede the critical market to China. "We talk about these chips like they could be smuggled in the back of a briefcase. That's not what they look like. These are server racks that are eight feet tall and weigh two tons," Sacks said at the AWS summit in Washington. "They don't walk out doors. It's very easy to basically verify that they're where they're supposed to be," he said. The comments indicated President Donald Trump 's approach to AI could be centered on expanding markets abroad for U.S. AI chips and models. Former President Joe Biden had emphasized policies that countered risks the chips could be diverted to China and used to bolster Beijing's military. "I do worry we're on a trajectory where fear could overtake opportunity and we end up sort of crippling this wonderful progress that we're seeing," Sacks said, citing a raft of bills in state legislatures seeking to regulate AI, as well as permitting challenges facing companies seeking to build the data centers that power AI. Trump rescinded Biden's executive order aimed at promoting competition, protecting consumers and ensuring AI was not used for misinformation. He also rescinded Biden's so-called AI diffusion rule, which capped the amount of American AI computing capacity that some countries were allowed to obtain via US AI chip imports. "We rescinded that Biden diffusion rule, diffusion a bad word. Diffusion of our technology should be a good word," Sacks said. The Trump administration and the United Arab Emirates also announced a plan last month for the Gulf country to build the largest artificial intelligence campus outside the U.S. after Biden in 2023 put in place rules that curbed most AI chip shipments to the region. Taking aim at that regulation, Sacks said, "What play are we giving them? We're basically going to push them into the arms of China." He added that if, in five years, AI chips made by sanctioned Chinese telecoms equipment giant Huawei were everywhere, "that means we can't let that happen." The need to remove hurdles to U.S. AI innovation is urgent as China has made important advances in its AI models, Sacks said. This year, the Chinese AI app DeepSeek shocked the world with its sophisticated, affordably trained model. "China is not years and years behind us in AI. Maybe they're three to six months," said Sacks. "It's a very close race." The White House later said he was referring to China's AI models, adding that Chinese AI chips are one to two years behind their U.S. counterparts.
Time of India
34 minutes ago
- Time of India
$1 Trillion GDP Boost in Sight: Abhishek Banerjee on promising sectors, gold and market sentiment
As global macroeconomic cues continue to shape market sentiment, ET Markets' Neha Vashishth Mahajan sat down with Abhishek Banerjee, CEO & Founder of LotusDew Wealth, to decode key global trends like interest rates, inflation, China's disinflation, and Donald Trump's tariff bombshell. Banerjee also shared his outlook on Indian equity markets, sectoral opportunities, and why microcaps remain a compelling space despite volatility. EXCERPTS Q. Interest rates are coming down globally. What impact do you see on Indian stocks, and how do global developments factor in? Abhishek Banerjee: Interest rates reflect both economic activity and global trade dynamics. Right now, trade is facing uncertainty due to tariffs and supply chain disruptions. Companies are unsure whether to delay procurement or over-order in anticipation of rising costs. This creates volatility, slowing trade, reducing the velocity of money, and putting mixed pressures on inflation. Some firms are pre-ordering large shipments, such as Apple, to hedge against future tariffs. But overall, we're seeing a slowdown in global demand and production. This gives central banks more room to cut interest rates. Today, most central banks are turning dovish, inclined to cut rates rather than raise them. The European Central Bank announced a cut, RBI too cut the repo rates. For equities, lower interest rates are positive. They reduce the discount rate used in stock valuations, which boosts prices, especially for high P/E, growth-oriented stocks. India, being a growth market, is likely to benefit more from this trend. Smaller and high-growth companies could outperform in a falling interest rate environment. Q. Gold prices have surged recently. Traditionally, gold rises when equities fall—but lately, both have been moving up together. Why is this happening, and what's your outlook? Abhishek Banerjee: Earlier, gold and equities were uncorrelated. Now, they're moving in tandem largely because central banks are buying gold as a reserve instead of US dollars. That's putting upward pressure on bullion. Some experts, including prominent investors and even Goldman Sachs, predict gold could touch $4,000–$5,000. I don't share that view. I believe gold has already peaked. Instead, I'm more bullish on silver, which has industrial uses—especially in EVs and electronics. Gold is more of a store of value and is driven by sentiment, while silver is increasingly relevant for future-facing industries. If you're looking at precious metals, silver and other rare earths have more upside potential, though access to some of these materials is still limited in public markets. Q. Donald Trump's repeated tariff announcements are shaking markets. Goldman Sachs estimates US inflation could hit 4% this year, with tariffs contributing significantly. The Fed has paused rate cuts, and US yields are already higher than most G10 nations. What's your take? Abhishek Banerjee: What's changed is perception. Earlier, Trump's tariff moves seemed calculated, even strategic—some thought Elon Musk might be influencing them. But with their differences now out in the open, that perception has shifted. People are beginning to question whether these are smart moves or simply political posturing. Importantly, the market still treats tariffs as temporary negotiating tools. But I believe they're becoming permanent. That means higher baseline prices and stickier inflation. While central banks may cut rates in the near term, we could see reversals if inflation doesn't ease. For India, though, this uncertainty presents an opportunity. We're benefitting from lower oil prices, growing exports—especially in defence and electronics—and higher tax collections. The government has offered relief to middle-income earners, and corporate balance sheets are flush with cash. India has around ₹10 lakh crore in corporate reserves, and we're beginning to see that being deployed in capex. Over the next 4–6 quarters, as that money is converted into productive assets, India could add $1 trillion to the economy—moving from a $4 trillion to a $5 trillion economy faster than expected. China's inflation has remained below 1% for over two years, despite fiscal and monetary stimulus. What's going on? Abhishek Banerjee: China's biggest growth engine—real estate—is struggling. With population growth slowing and urbanization largely complete, marginal demand is hard to stimulate. Meanwhile, China has overcapacity in manufacturing—they're extremely efficient, and there's little room left to extract more gains. While valuations looked attractive recently, it's risky—like catching a falling knife. China has fiscal and FX space to act, but they're also distracted by geopolitical tensions, trade wars, and a focus on military engagement. Amid all this, India has a relative advantage and looks far more promising for investors in the near term. Which sectors are likely to benefit in the near term? Abhishek Banerjee: Auto and consumer sectors are immediate beneficiaries. With April salary hikes and tax relief, consumers have more disposable income. That translates into car purchases, home upgrades, and premium consumption—travel, electronics, etc. Real estate could also benefit. On the flip side, pharma and IT services face headwinds. IT services in particular are under structural pressure despite some FX-driven margin improvements. Q. What's your take on microcaps? Brokerages seem bullish. Abhishek Banerjee: We've always been bullish on microcaps—they're our specialty. The SME segment alone has given 65% CAGR returns, though it's a high-risk space with some stocks losing 98% of their value while others gain 35x. It's a stock picker's market. Many smaller companies are undervalued simply because they've lacked investor attention. Now, with stretched valuations in large and midcaps, money is trickling down into these overlooked gems.
