Gold and Silver Prices Today (8 July): Gold Rates Slip Slightly, Silver Also Sees a Dip Across Major Cities
Check out gold and silver prices in your city today. (July 8)
Gold and silver prices: Gold and silver prices witnessed a marginal decline in India’s retail market on Wednesday, 8 July, as global market sentiment remained cautious amid rising geopolitical tensions. Both 24-karat and 22-karat gold prices recorded a small drop across major Indian cities, while silver rates also moved lower.
In the futures market, MCX gold was trading around ₹1,45,350 per 10 grams, down 0.36%, while MCX silver futures declined nearly 0.39% to around ₹2,30,160 per kg during early trade.
The decline in precious metal prices came as international markets reacted to fresh tensions between the United States and Iran. Rising concerns over oil supply disruptions pushed crude oil prices higher, influencing investor sentiment across global markets.
Latest Gold and Silver Rates in India on 8 July
New Delhi
- 24K Gold: ₹1,44,840 per 10 grams
- 22K Gold: ₹1,32,770 per 10 grams
- 999 Fine Silver: ₹2,29,350 per kg
Mumbai
- 24K Gold: ₹1,45,090 per 10 grams
- 22K Gold: ₹1,32,999 per 10 grams
- 999 Fine Silver: ₹2,29,740 per kg
Bengaluru
- 24K Gold: ₹1,45,450 per 10 grams
- 22K Gold: ₹1,33,329 per 10 grams
- 999 Fine Silver: ₹2,30,350 per kg
Kolkata
- 24K Gold: ₹1,45,140 per 10 grams
- 22K Gold: ₹1,33,045 per 10 grams
- 999 Fine Silver: ₹2,29,860 per kg
Hyderabad
- 24K Gold: ₹1,45,560 per 10 grams
- 22K Gold: ₹1,33,430 per 10 grams
- 999 Fine Silver: ₹2,30,530 per kg
Chennai
- 24K Gold: ₹1,45,760 per 10 grams
- 22K Gold: ₹1,33,613 per 10 grams
- 999 Fine Silver: ₹2,30,840 per kg
Why Are Gold and Silver Prices Moving?
Precious metal prices are being influenced by global developments, including US-Iran tensions, crude oil movements, currency fluctuations and expectations around central bank policies. Gold is often considered a safe-haven asset during periods of uncertainty, but short-term price movements continue to depend on global market conditions.
Silver prices are also affected by industrial demand along with investment trends, making the metal sensitive to both economic growth expectations and geopolitical events.
Investors and buyers are closely watching international developments as they may impact gold and silver prices in the coming days.
News source: Information for this article was gathered from a variety of reliable news outlets.
