As of today, June 8, 2025, gold prices in India's major metro cities reflect a mix of factors, including global market trends, local demand, and economic conditions. Here's a snapshot of the latest gold rates in Mumbai, Delhi, and Chennai.

Mumbai:

In Mumbai, the price of 24-carat gold is ₹9,797 per gram. For 22-carat gold, the rate is ₹8,980 per gram. Different sources provide slightly varying figures, with one mentioning ₹99,671 per 10 grams for 24 Carat and ₹91,299 per 10 grams for 22 Carat. Another source indicates ₹9,941.22 per gram for 24K gold, ₹9,112.79 per gram for 22K gold, and ₹7,455.92 for 18K gold. These rates are indicative and do not include GST, TCS, and other levies. Local jewelers should be consulted for the exact rates. Historical context indicates that fluctuations in Mumbai's gold rates are influenced by international factors and determined by the Indian Bullion Jewellers Association, considering dealer rates and import duties.

Delhi:

The gold rates in Delhi show some variation across different sources. One source indicates that 24-carat gold is priced around ₹99,763 per 10 grams, while 22-carat gold is approximately ₹91,463 per 10 grams. Another source states the price of 10 grams of 22 karat gold is Rs. 69,050, and the price of 10 grams of 24 karat gold is Rs. 75,310. Yet another source provides a rate of ₹9,080 per gram for 22 karat gold and ₹9,534 per gram for 24 karat gold. These discrepancies highlight the importance of checking with local jewelers for the most accurate and current pricing. Like Mumbai, Delhi's gold market is significantly influenced by global and local factors that cause daily fluctuations.

Chennai:

Chennai's gold rates are reported as ₹9,797 per gram for 24-carat gold and ₹8,980 per gram for 22-carat gold. One source indicates ₹98,796 per 10 grams for 24 Carat and ₹90,498 per 10 grams for 22 Carat. Another source mentions ₹9,145.60 per gram for 22 karat gold and ₹9,975.60 per gram for 24 karat gold. Demand in Chennai is primarily driven by jewelry purchases rather than gold biscuits or coins. As with the other metro cities, these rates are indicative and may vary.

Factors Influencing Gold Prices:

Several factors influence gold prices in India, including:

• Global Economic Trends: International market movements, economic uncertainties, and geopolitical tensions significantly impact domestic gold rates.
• US Federal Reserve Policies: Expectations of US Federal Reserve rate cuts often bolster investor sentiment, contributing to upward price movements.
• Safe-Haven Demand: During times of economic uncertainty, gold is seen as a safe-haven asset, increasing demand and prices.
• Currency Exchange Rates: The USD to INR exchange rate plays a crucial role, as gold is primarily traded in US dollars.
• Local Demand: Festivals, wedding seasons, and cultural factors drive local demand, affecting prices.
• Import Duties and Taxes: Government policies on import duties and taxes also influence gold rates.

Market Trends and Predictions:

The gold rate forecast for the week of June 9, 2025, to June 13, 2025, indicates a potentially negative trend due to global cues and investor profit booking. However, predictions suggest a bullish trend with prices likely to move upward, with limited downside risk.

Investment Advice:

Given the fluctuating nature of gold prices, it's essential for investors to stay informed, monitor market trends, and consult trusted sources before making any investment decisions. Gold continues to be a popular investment choice in India, serving as a hedge against inflation and a safe haven during economic uncertainty.