Gold Prices Slip Again, Silver Turns Weaker: Updated Gold and Silver Rates in 10 Major Indian Cities

Gold and silver prices in India have continued their downward movement, extending the softening trend seen over the past few sessions. After witnessing a strong surge earlier this month, precious metals are now facing selling pressure due to global market developments. On January 9, 2026, gold prices declined for the third consecutive day, while silver recorded its second straight session of losses. This correction has brought prices below their recent highs, offering some relief to buyers but creating uncertainty for short-term investors.

Market data shows that gold had recently staged a sharp rally, climbing by nearly ₹3,000 per 10 grams in just two trading sessions after a brief period of stability. However, that upward momentum has now faded. Over the last three days, 24-carat gold has fallen by around ₹830 per 10 grams, while 22-carat gold has dropped by approximately ₹760 per 10 grams. On Friday alone, prices of both 24-carat and 22-carat gold slipped marginally by ₹10 per 10 grams.

Silver prices have also mirrored this trend. After rising strongly for three consecutive days, silver has cooled over the past two sessions. In the Delhi market, silver prices have fallen by ₹5,100 per kilogram within two days. As of January 9, silver is trading at ₹2,51,900 per kilogram in the national capital, marking a decline of ₹100 from the previous day’s level.

Gold Rates Today Across 10 Key Indian Cities

Here is an overview of the latest gold prices for 10 grams in major Indian cities, based on different purity levels:

In Delhi, 24-carat gold is priced at ₹1,38,140 per 10 grams, while 22-carat gold stands at ₹1,26,640. The 18-carat variant is selling at ₹1,03,640 per 10 grams.

In Mumbai, gold rates are slightly lower, with 24-carat gold at ₹1,37,990, 22-carat at ₹1,26,490, and 18-carat gold priced at ₹1,03,490 per 10 grams.

In Kolkata, prices remain similar to Mumbai, where 24-carat gold is available at ₹1,37,990, 22-carat at ₹1,26,490, and 18-carat gold at ₹1,03,490 per 10 grams.

In Chennai, gold continues to trade at higher levels compared to other cities. Here, 24-carat gold costs ₹1,39,080 per 10 grams, 22-carat gold is priced at ₹1,27,490, and 18-carat gold stands at ₹1,06,390.

In Bengaluru and Hyderabad, gold prices are aligned with Mumbai levels. In both cities, 24-carat gold is priced at ₹1,37,990, 22-carat at ₹1,26,490, and 18-carat gold at ₹1,03,490 per 10 grams.

In Lucknow, gold prices are slightly higher, with 24-carat gold at ₹1,38,140, 22-carat at ₹1,26,640, and 18-carat gold priced at ₹1,03,640 per 10 grams.

In Patna, the rate for 24-carat gold is ₹1,38,040, while 22-carat gold costs ₹1,26,540 and 18-carat gold is priced at ₹1,03,540 per 10 grams.

In Jaipur, gold prices are similar to Lucknow, with 24-carat gold at ₹1,38,140, 22-carat at ₹1,26,640, and 18-carat gold at ₹1,03,640 per 10 grams.

In Ahmedabad, 24-carat gold is trading at ₹1,38,040 per 10 grams, 22-carat gold at ₹1,26,540, and 18-carat gold at ₹1,03,540.

Silver Prices in Major Markets

Silver prices have also softened after a recent rally. In Delhi, Mumbai, and Kolkata, silver is currently trading at ₹2,51,900 per kilogram. Among major metropolitan cities, Chennai remains the most expensive market for silver, where prices are significantly higher at ₹2,71,900 per kilogram.

What Is Driving the Decline in Prices?

The recent decline in gold and silver prices is largely being linked to global commodity market factors. One of the primary reasons is the annual rebalancing of the Bloomberg Commodity Index (BCOM), a process that typically takes place in January.

According to a recent report by Deutsche Bank analyst Michael Hsueh, this rebalancing—scheduled between January 9 and January 15—may trigger increased selling in certain commodities. Fund flows associated with the index adjustment are expected to put pressure on precious metals such as gold and silver during this period.

The analyst also noted that aluminium could face similar pressure, while commodities like cocoa, crude oil, natural gas, and gas oil may benefit from changes in index weightings.

What Should Investors Expect Next?

Experts believe that gold and silver prices may remain volatile in the short term as global funds realign their positions. While the current dip could present a potential opportunity for long-term investors, those seeking short-term gains are advised to proceed cautiously.

With international trends, currency movements, and global commodity dynamics continuing to influence domestic prices, investors and buyers should keep a close watch on market developments before making significant investment or purchase decisions.