Gold Price Today, November 9: Gold prices remained largely steady on Monday, trading close to the USD 4,100 mark as weakness in the US dollar supported bullion. However, expectations of a Federal Reserve rate hike during the December FOMC meeting capped gains.
As of 5:45 am, spot gold was trading 0.1 per cent higher, up USD 1.7, at USD 4,072.09. The yellow metal started the week on a positive note after registering a weekly gain.
Spot silver also traded higher, rising 0.5 per cent or USD 0.33 to USD 52.32.
On the domestic front, gold and silver futures were not trading at the time of writing this report. During the special Diwali trading session, gold and silver prices on the Multi-Commodity Exchange (MCX) settled at Rs 142520 per 10g and Rs 185011 per kg, respectively.
Gold Price Today: Why is gold up today?
Gold prices edged higher on Monday, supported by weakness in the US dollar. The US dollar index, which measures the greenback against a basket of six major currencies, was trading 0.1 per cent lower.
A weaker US dollar makes gold cheaper for holders of other currencies, supporting demand and bullion prices.
Cooling energy prices also provided support to gold, with crude oil prices trading lower. Brent crude was trading below the USD 98 mark, while WTI was around USD 90.
Last 10 Days Price of Gold
| DATE | 24 CARAT GOLD | 22 CARAT GOLD |
|---|---|---|
|
Nov 08, 2026 |
₹1,43,600↑ 0.00 |
₹1,31,750↑ +₹110 |
|
Nov 07, 2026 |
₹1,43,600↓ -₹2,430 |
₹1,31,640↓ -₹2,220 |
|
Nov 06, 2026 |
₹1,46,030↑ +₹3,070 |
₹1,33,860↑ +₹2,800 |
|
Nov 05, 2026 |
₹1,42,960↑ +₹3,160 |
₹1,31,060↑ +₹2,900 |
|
Nov 04, 2026 |
₹1,39,800↑ +₹270 |
₹1,28,160↑ +₹250 |
|
Nov 03, 2026 |
₹1,39,530↑ +₹510 |
₹1,27,910↑ +₹470 |
|
Nov 02, 2026 |
₹1,39,020↓ -₹10 |
₹1,27,440↓ -₹10 |
|
Nov 01, 2026 |
₹1,39,030↑ +₹1,39,030 |
₹1,27,450↑ +₹1,27,450 |
|
Oct 31, 2026 |
₹0↓ -₹1,44,090 |
₹0↓ -₹1,32,090 |
|
Oct 30, 2026 |
₹1,44,090↑ +₹1,44,090 |
₹1,32,090↑ +₹1,32,090 |
Declining oil prices can ease inflationary pressures and inflation expectations, potentially lowering bond yields and supporting gold’s appeal.
However, expectations of a Federal Reserve rate hike during the December FOMC meeting remained high despite cooling energy prices.
As per the CME FedWatch tool, there was about an 80 per cent chance of a rate hike by the US Federal Reserve.
Higher interest rate expectations can increase bond yields and the opportunity cost of holding non-yielding gold, potentially weighing on bullion prices.
Gold Price Today: US inflation data in focus
Market participants will now turn their attention towards inflation data due later this week, which could influence expectations around the Federal Reserve’s monetary policy.
Speeches by various Federal Reserve officials will also remain in focus, with investors watching for guidance that could influence the trajectory of gold and silver prices.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)