Gold Falls For Fourth Straight Session As Stronger Rupee Drags Domestic Prices

Gold prices in Delhi fell for the fourth consecutive session on July 9, 2026, with the price of 99.9 per cent purity gold declining by Rs 350 to Rs 1,48,100 per 10 grams. The precious metal had closed at Rs 1,48,450 per 10 grams in the previous session. Silver also extended its losses, falling by Rs 7,800 to Rs 2,32,000 per kilogram, inclusive of all taxes, from Rs 2,39,800 per kilogram a day earlier.

The decline in domestic bullion prices came even as gold and silver traded higher in international markets.

Rupee Strength Weighs On Domestic Bullion

The appreciation of the rupee against the dollar reduced the cost of imported bullion, putting pressure on domestic gold and silver prices, according to a PTI report. Weak local demand also contributed to the decline. The stronger rupee offset the gains seen in overseas bullion markets, resulting in lower prices in the domestic market.

Overseas Markets Trade Higher

In the international market, spot gold rose by $27.23, or nearly 1 per cent, to $4,104.75 per ounce. Spot silver also gained more than 1 per cent to trade at $58.96 per ounce after recovering from the sharp decline in the previous session.

The recovery in overseas bullion prices followed reports that fresh attacks involving the US and Iran had ended.

Market Awaits US Home Sales Data

Market participants are also tracking US home sales data, which is scheduled to be released later in the day. The data is being watched for signals on the US Federal Reserve’s interest rate outlook.

At the same time, the dollar and Treasury bond yields remained steady during the session.

Domestic bullion prices often reflect a combination of international price movements, currency fluctuations and local demand conditions. On July 9, the impact of the stronger rupee and subdued buying outweighed the gains in the overseas markets, leading to another decline in gold and silver prices in the domestic market.