Will gold continue to fall today? Check the price of the precious metal in your city

Gold price today

• Gold spot price at $4,470.51/oz, down 0.15% but up 3.31% over the past week
• MCX gold futures closed at Rs 1,37,700 per 10g, down 0.03% from previous close
• Gold expected to trade between Rs 1,35,000 and Rs 1,38,000 in coming sessions

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Gold saw a drop in the global market early on January 9, almost a repeat of domestic market a day earlier with a volatile rupee weighing on sentiment.

At 7.45 am, spot gold was trading at $4,470.51 an ounce, a decline of 0.15 percent from the previous close. The metal, however, has gained 3.31 percent in the past week.

On MCX, futures price closed at Rs 1,37,700 for 10 grams on January 8, a 0.03 percent decline from its previous close at Rs 1,37,742.

"Gold traded weak, with MCX gold slipping by nearly Rs 900 to Rs 1,36,950, despite relatively steady international prices. Rupee volatility weighed on domestic bullion sentiment, even as broader global cues remained mixed," said Jateen Trivedi, VP, research analyst (commodity and currency), LKP Securities.

According to the January 8 Augmont Bullion report, gold rebounded after touching the psychological level of $4,500 (Rs 1,39,000). Downside support is at $4,350 (Rs 1,35,000), and resistance $4550 (Rs 1,40,000).

"Precious metals saw profit-booking as traders locked in profits ahead of the US NFP report as investors weighed mixed US economic data, while geopolitical risks remained a significant focus," the report said.

Read more: Why gold may remain a reliable wealth builder in 2026: 5 trends to watch

Outlook: Volatility ahead

"The week ahead is data-heavy for the US, with key releases including ADP non-farm employment and non-farm payrolls, which are likely to add volatility and provide direction to gold prices. For now, gold is expected to trade in a volatile range between Rs 1,35,000 and Rs 1,38,000 over the next few sessions," said Trivedi.

Trading in futures involves standardised contracts to buy and sell the precious metal at a predetermined price. On MCX, gold futures peaked at Rs 1,40,465 as recorded on December 26.

The rupee ended lower on January 8 after a choppy session as fresh, surprise intervention by the Reserve Bank of India was outweighed by tariff worries and equity outflows. It ended the day at 89.91.

Gold prices vary by purity. Check out below to see the prices of gold based on its purity

Gold Price Today (₹)

City-wise gold prices in India today

Gold rates across India’s major cities showed remarkable uniformity, with only marginal differences due to local taxes, jeweller margins, and logistics costs.

Gold Price In Indian Cities (₹)

Why is gold volatile?

"Gold traded weak, with MCX gold slipping by nearly Rs 900 to Rs 1,36,950, despite relatively steady international prices. Rupee volatility weighed on domestic bullion sentiment, even as broader global cues remained mixed," said Jateen Trivedi, VP Research Analyst (Commodity and Currency), LKP Securities.

According to the Augmont Bullion report, gold rebounded after touching the psychological level of $4,500 (Rs 1,39,000). Downside support is $4,350 (Rs 1,35,000), and resistance is $4550 (~Rs 1,40,000).

"Precious metals saw profit-booking as traders locked in profits ahead of the US NFP report as investors weighed mixed US economic data, while geopolitical risks remained a significant focus," the report stated.

Read more: Why gold may remain a reliable wealth builder in 2026: 5 trends to watch

"The week ahead is data-heavy for the US, with key releases including ADP non-farm employment and non-farm payrolls, which are likely to add volatility and provide direction to gold prices. For now, gold is expected to trade in a volatile range between Rs 1,35,000 and Rs 1,38,000 over the next few sessions," said Trivedi.