# Domestic Bullion Rebounds After Selloff as 24K Gold Surges by Rs 1,140

> Gold prices in India posted sharp gains on October 9 with 24-carat metal jumping Rs 1,140 to touch Rs 1,50,710 per 10 grams, supported by retreating US Treasury yields and softer crude oil prices, even as silver edged marginally lower.

**Type:** article · **Category:** Money · **Published:** 2026-10-09 · **Source:** TrendKia
**Canonical:** https://trendkia.com/en/money/sone-ki-kimaton-men-joradara-uchhala-24-kaireta-aura-22-kaireta-ke-taja-bhava-dekhen-45244 · **Language:** English
**Tags:** Gold Price Today, Silver Price Today, MCX Gold, Bullion Market, 24K Gold Price, 22K Gold Price

Indian bullion markets witnessed a notable turnaround on October 9 as domestic gold prices recovered aggressively following a recent downward phase. The yellow metal posted sharp gains across all purities, supported by softer international crude oil benchmarks and easing sovereign debt yields in the United States, whereas retail silver rates experienced a minor dip across domestic trading counters.

## Retail Gold Rates Across 24K, 22K and 18K Segments
Retail price charts showed that 24-carat pure gold advanced by Rs 1,140 per 10 grams across the country, lifting the benchmark retail price to Rs 1,50,710 per 10 grams. In the consumer-heavy jewelry segment, 22-carat gold appreciated by Rs 1,050 to reach Rs 1,38,150 per 10 grams. Similarly, 18-carat gold increased by Rs 850 per 10 grams, taking its counter rate to Rs 1,13,030.

For bulk physical volumes, 100 grams of 24-carat gold appreciated by Rs 11,400 to retail at Rs 13,81,500. Alongside this, the 100-gram denomination for 22-carat gold climbed by Rs 10,500 to trade at Rs 15,07,100.

## Silver Retails Marginally Lower
In contrast to the buoyant action in bullion gold, physical silver witnessed a muted tone. The price for 1 kilogram of silver in India fell by Rs 100, bringing the retail rate down to Rs 2,34,900. In smaller retail lots, 100 grams of silver quoted at Rs 23,490 across physical markets.

## Gold Quotations Across Key Indian Metros
Metropolitan retail hubs reflected the broader national surge in uniform fashion. In Chennai, the price of 24-carat gold was recorded at Rs 1,50,710 per 10 grams, while 22-carat gold stood at Rs 1,38,150 per 10 grams.

Jewelry hubs in Bangalore echoed identical figures, quoting 22-carat gold at Rs 1,38,150 per 10 grams and 24-carat gold at Rs 1,50,710 per 10 grams. Hyderabad bullion counters followed parallel tracks with 22-carat gold quoted at Rs 1,38,150 per 10 grams and 24-carat gold priced at Rs 1,50,7100 per 10 grams.

## Futures Action on MCX and Key Technical Ranges
On the Multi Commodity Exchange, gold futures contracts scheduled for maturity on December 4 gained 1.11 percent to hover at Rs 1,51,277 during active trading hours. Concurrently, MCX silver futures maturing on December 4 climbed 1.46 percent, changing hands at Rs 2,24,470.

Technical projections outlined by ICICI Direct Research indicate that MCX Gold December contracts are positioned to discover technical support near the Rs 148,500 zone before attempting an upward push toward Rs 152,000. Meanwhile, MCX Silver December contracts are projected to oscillate across a broader trading boundary of Rs 220,000 to Rs 228,000, with an extended move toward Rs 230,000 contingent upon a definitive breakout above the Rs 228,000 hurdle.

## Global Spot Valuations and Treasury Yield Trends
In international trade, spot gold climbed 1.1 percent to $4,177.44 per ounce after falling to a two-month low during the preceding Wednesday session. Active US gold futures similarly picked up 1.1 percent to touch $4,202.00 per ounce.

A primary driver underpinning this rebound has been the decline in crude oil, which is currently hovering in the proximity of $102 per barrel. Furthermore, benchmark US Treasury yields pulled back from 24-year peaks following robust participation at a 30-year bond auction, signaling that long-term sovereign paper continues to draw capital despite the recent broad market selloff.

## Monetary Policy Trajectory and Industry Commentary
Market readings from Trading Economics indicate an 82 percent implied probability that the Federal Reserve will hold benchmark borrowing rates steady during the current monthly policy review, contrasted with an 81 percent likelihood of a rate increase when policymakers reconvene in December.

Providing perspective on the macroeconomic crosscurrents, Prithviraj Kothari, Managing Director at RiddiSiddhi Bullions Ltd., President of the India Bullion and Jewellers Association Ltd. and Chairman at Jain International Trade Organisation, noted that bullion assets have slipped past crucial supports at $4,100 for gold and $60 for silver, pinned down by a dollar index positioned around an 18-month high along with growing anticipation of monetary tightening.

Kothari observed that the CME FedWatch tool currently factors in an 18 percent probability of policy movement this month, rising to 80 percent for December. Minutes from recent Federal Reserve deliberations indicate divergent views among central bankers, with select members focusing on energy cost shocks while a hawkish contingent remains vigilant over demand-driven price pressures.

He further pointed out that the International Monetary Fund has sounded alarms over elevated energy expenses, historic sovereign debt volumes and the rapid artificial intelligence boom. From a chart perspective, Kothari highlighted that gold is now watching the $4,000 mark, while silver exhibits a head-and-shoulders breakdown structure that exposes potential downward targets toward $57.

## What this means for you
The sudden recovery in domestic bullion prices directly impacts household budgets planning jewelry purchases ahead of the festive and wedding season.

- **For retail jewelry buyers:** A jump of Rs 1,140 on 24K and Rs 1,050 on 22K gold increases the direct outgo on ornament bills. Consumers purchasing larger quantities such as 100 grams will now pay over Rs 10,000 more compared to the previous session.
- **For physical silver buyers:** Silver prices eased by Rs 100 to trade at Rs 2,34,900 per kilogram. This minor decline offers marginal cost stability for individuals acquiring silverware or bullion bars.
- **For commodity and MCX traders:** Active gold contracts rose over 1 percent to Rs 1,51,277, with support projected around Rs 148,500 and resistance at Rs 152,000. Short-term derivative participants should align stop-loss positions within these forecasted ranges.
- **For macroeconomic tracking:** With rate hike expectations for December hovering near 80 to 81 percent, market volatility is likely to persist across dollar-backed assets. Buyers and investors should monitor global crude trends and Treasury yields for sustained direction.

## Why this happened
The sharp turnaround in bullion values stems from a combination of cooling energy commodity prices and shifting debt market dynamics in the United States. Following recent multi-week lows, technical buying emerged as macroeconomic pressures temporarily moderated.

- **Cooling crude oil benchmarks:** Global crude oil fell toward $102 per barrel during recent sessions. Easing energy price spikes helped relieve immediate macroeconomic pressure, enabling spot bullion to stage a technical recovery.
- **Retreat in US sovereign yields:** US Treasury yields pulled back from 24-year peaks following robust buying interest during a 30-year bond auction. This indicated sustained investor appetite for long-dated government paper and eased pressure on zero-yield precious metals.
- **Federal Reserve monetary policy expectations:** Projections show an 82 percent likelihood of interest rates remaining unchanged this month, though traders factor in an 80 to 81 percent probability of a hike in December. This split focus created room for a short-term rebound.
- **Oversold technical bounce:** Spot gold bounced 1.1 percent from a two-month low to reach $4,177.44 per ounce, while US futures gained to $4,202.00. The move reflects short-covering after prices tested critical psychological thresholds under a firm dollar index.

## Questions & Answers

### 1. What is the retail price of 24-carat gold in India on October 9?
The price of 24-carat gold increased by Rs 1,140 to settle at Rs 1,50,710 per 10 grams.

### 2. How much did 22-carat gold rise across domestic markets?
The 22-carat gold rate climbed by Rs 1,050 to reach Rs 1,38,150 per 10 grams.

### 3. What is the current retail rate for silver in India?
Silver fell by Rs 100 to trade at Rs 2,34,900 per kilogram, with 100 grams retailing at Rs 23,490.

### 4. At what levels did MCX gold and silver futures trade?
December 4 gold futures traded 1.11 percent higher at Rs 1,51,277, while silver futures advanced 1.46 percent to Rs 2,24,470.

### 5. What were the prevailing spot gold rates in global trade?
Spot gold climbed 1.1 percent to $4,177.44 per ounce, while US gold futures stood at $4,202.00 per ounce.

### 6. What technical levels has ICICI Direct Research projected for MCX Gold?
The research desk identified technical support near Rs 148,500 and an upside target toward Rs 152,000.

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