Gold is having a bit of a “bounce-back” morning.1 As of Friday, January 9, 2026, prices in India have shifted upward, recovering from a two-day slide that saw the metal dip earlier in the week.2
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The thing is, the global market is on edge today. We’re waiting for the US Non-Farm Payrolls (NFP) report at 7:00 PM IST. Or nothing. Let’s be real, traders are literally holding their breath—if the US job numbers are weak, gold could skyrocket. If they’re strong, we might see another price drop. Those too.
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The “Gold Log”: Field Notes
It’s an ongoing situation where the Rupee is playing spoilsport, hovering around 90.05 against the Dollar.
The Global Pulse: Spot gold is trading near 4,470 per ounce.3 It hit a record high of 4,549 just after Christmas, and now it’s consolidating.4
The Geopolitical X-Factor: Trump’s recent comments about Greenland have actually unified the EU against him. Add in the US-Venezuela tension, and you’ve got a perfect recipe for “safe-haven” buying.
The Sunday Factor: Don’t forget, the Union Budget is being presented this Sunday. There’s a lot of chatter about the government potentially rationalizing gold import duties to curb smuggling.
The MCX Action: February futures are trading around ₹1,38,012, up about 0.20% this morning.
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City-Wise Gold Prices (Jan 9, 2026)
[Table: Purity & Location Rates]
| City | 24K (per 10g) | 22K (per 10g) | 18K (per 10g) |
| Delhi | ₹1,38,860 | ₹1,27,300 | ₹10,418 |
| Mumbai | ₹1,38,710 | ₹1,27,150 | ₹10,403 |
| Chennai | ₹1,39,640 | ₹1,28,000 | ₹10,680 |
| Bangalore | ₹1,38,710 | ₹1,27,150 | ₹10,403 |
| Hyderabad | ₹1,38,710 | ₹1,27,150 | ₹10,403 |
And Here’s the Kicker…
While today’s rates show a slight “uptick” of about ₹700–₹800 per 10 grams compared to yesterday, the long-term trend for 2026 is still wildly bullish. The thing is, HSBC is already predicting gold could hit 5,000 (roughly ₹1.5 Lakh per 10g) by June if the US Fed continues with its projected rate cuts.5
Investors are currently “locking in profits,” which explains why the price isn’t shooting up in a straight line. It’s a messy, volatile range. If you’re looking to buy jewelry, wait until after the NFP report tonight—the weekend rates might be very different.
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End…
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