On August 8, 2025, gold and silver prices surged in both domestic and international markets. On the MCX, gold rose by ₹700 per 10 grams, and silver increased by ₹700 per kilogram. The strengthening dollar, the US-India tariff dispute, and global economic uncertainty have led investors to increase gold purchases, considering it a safe haven asset.
Gold Price Today: On Friday, August 8, 2025, the Indian futures market MCX witnessed a significant increase in gold and silver prices. Gold jumped by ₹700 per 10 grams, and silver rose by ₹700 per kilogram. This surge reflects not only the growing interest of domestic investors but also signals the escalating global tensions and the deepening tariff dispute between the US and India.
The international market also saw gains, with gold rising by $34.80 to reach $3,488.50 per ounce, a 1.01 percent increase. Silver also saw a positive movement, increasing by $0.201 to $38.495 per ounce.
Why are Gold and Silver Prices Rising?
According to experts, global economic instability, fears of recession, and geopolitical tensions have led investors to turn to safe-haven assets. This is why the demand for gold and silver is constantly increasing. Following the US announcement of an additional 25 percent tariff on India, the domestic stock market has experienced volatility, making gold an even more attractive investment option.
Today's MCX Rates
On Friday, gold on the Multi Commodity Exchange (MCX) touched ₹1,05,626 per 10 grams. Similarly, silver prices also increased, reaching ₹1,38,200 per kilogram. This increase has generated enthusiasm among investors, leading to higher trading volumes.
Latest Gold Prices in Your City
The latest gold prices in major cities across the country are as follows:
Delhi:
- 24 Carat Gold: ₹1,02,710 per 10 grams
- 22 Carat Gold: ₹94,160 per 10 grams
Ahmedabad and Patna:
- 24 Carat: ₹1,02,610
- 22 Carat: ₹94,060
Mumbai, Hyderabad, Chennai, Bengaluru, Kolkata:
- 24 Carat: ₹1,02,560
- 22 Carat: ₹94,010
The difference in these prices is due to local taxes, jewelers' premium rates, and logistic charges.
Repo Rate Stable, but Market Volatility Persists
The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) kept the repo rate unchanged at 5.5 percent in its August meeting. Despite this, the situation in global markets and issues such as US tariffs have jolted domestic markets, leading investors to buy gold to avoid inflation and market risks.
How are Gold and Silver Prices Determined?
Gold and silver prices depend on several factors:
- International Prices: The movement of gold and silver on the New York Mercantile Exchange (COMEX) also affects India.
- Dollar-Rupee Exchange Rate: A b dollar makes gold more expensive in India because payments are made in dollars.
- Import Duty and GST: India is the largest importer of gold. Customs duties, GST, and local taxes affect prices.
- Supply and Demand: Demand for gold increases in India during the wedding and festival season, which drives up prices.
- Inflation and Interest Rates: When inflation rises or interest rates fall, investment in gold tends to increase.
- Gold in India: Not Just an Investment, but a Part of Culture
In India, the demand for gold is not limited to investment. It is also a very important metal from a cultural, religious, and social perspective. Buying gold during weddings, festivals, and auspicious occasions is a tradition. This is why the demand for gold remains even in the face of market downturns or global crises.
